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KNOW YOUR
CUSTOMER -
INTIMATELY
Jeanette Cheah
ANZ Group Innovation
INTRODUCTION 3
SO… 

TELL ME ABOUT
YOURSELVES.
WHAT? WHY?
COFFEE
ORDER?WHO?
IN TODAY’S SESSION
‣ What is market research?
‣ How it applies to the business cycle
‣ How does it work?
‣ Making it real with DIY resources
4
WHAT IS
MARKET
RESEARCH?
KNOW YOUR CUSTOMER - INTIMATELY
6WHAT IS MARKET RESEARCH?
www.dollarphotoclub.com
9
“Advertising people who ignore research are as
dangerous as generals who ignore decodes of
enemy signals.”
- David Ogilvy
WHAT IS MARKET RESEARCH?
10
“It’s really hard to design products by focus
groups. A lot of times, people don’t know what
they want until you show it to them.”
- Who Else? (Steve Jobs)
WHAT IS MARKET RESEARCH?
11
“Without data you’re just another person with an
opinion.”
– William Edwards Deming
http://startupquotes.startupvitamins.com/
WHAT IS MARKET RESEARCH?
MARKET
RESEARCH IN
BUSINESS
KNOW YOUR CUSTOMER - INTIMATELY
14MARKET RESEARCH IN BUSINESS
BUSINESS MATURITYBUSINESS INCEPTION
GREEN-
FIELDS IDEA
PITCH FOR $$
USER TESTING
GO TO
MARKET PLAN
HOW TO
SCALE
BRAND /
VOICEVALIDATE MVP
MAKING
THINGS
BETTER
MARKET RESEARCH IN BUSINESS 17
18MARKET RESEARCH IN BUSINESS
BUSINESS MATURITYBUSINESS INCEPTION
GREEN-
FIELDS IDEA
PITCH FOR $$
USER TESTING
GO TO
MARKET PLAN
HOW TO
SCALE
BRAND /
VOICEVALIDATE MVP
MAKING
THINGS
BETTER
MARKET RESEARCH IN BUSINESS
MAKING
THINGS
BETTER
“By proactively seeking
customer feedback…
we’ve ‘saved’ $60
million worth of home
loans…”
- ANZ Executive, 2015
MARKET RESEARCH IN BUSINESS 19
http://vinomofo.com/
http://www.vision6.com.au/
https://www.youtube.com/watch?v=Ei5qVoYqzMc
VINOMOFO uses research and
insights to drive their
‘unignorable’ email and content
strategy.
WATCH: Andre Eikmeier, co-
founder, Joint CEO of
VINOMOFO
BRAND /
VOICE
KEY CHALLENGE/QUESTION
How might you apply market
research help the MM and PM
in this situation?
CASE STUDY
SUMMARY
To increase sales for a particular product, a Marketing Manager
(MM) and Product Manager (PM) were asked to create an offer to
entice new customers.
The General Manager of the business thought that a significant
discount would be appropriate and put pressure on the MM and
PM to make it happen.
The MM and PM knew that this would cost the business a lot of
money, and might not have guaranteed results - but also want to
make their boss happy and hit their sales targets.
A BANK
21
CHECKING IN 22
SO… 

HOW ARE WE
GOING?
www.dollarphotoclub.com
THE MARKET
RESEARCH
PROCESS
KNOW YOUR CUSTOMER - INTIMATELY
24
1.
DEFINE THE
PROBLEM
2.
DEVELOP THE
RESEARCH PLAN
3.
DO THE
RESEARCH!
4.
INTERPRET AND
REPORT
THE MARKET RESEARCH PROCESS
5.
CHOOSE
BUSINESS
ACTIVITIES
MARKET RESEARCH - TYPES
Quantitative
‣ Data-driven - volume
‣ Statistical, choices
‣ Check-boxes, scales
‣ Closed-ended questions
‣ Do you like ice cream?
‣ How often do you..?
‣ Rate your experience…
26
Qualitative
‣ In-depth, more emotional
‣ Interviews, focus groups
‣ Picture descriptions
‣ Open-ended questions
‣ “Complete this sentence…”
‣ “How do you feel when…”
‣ Tell me about a time…”
‣ “What do you associate with…”
2.
DEVELOP THE
RESEARCH PLAN
HOW DO YOU DO QUANTITATIVE RESEARCH?
Methods
‣ Desktop research
‣ Mobile - SMS, voice, MMS
‣ Online surveys, APIs on
your website
‣ Web/email forms
‣ Point of sale - QR codes,
receipts tablet positioned
on table
27
Expert help - online
• rantandrave.com
• Stable Research
• researchnow.com
• medallia.com
• mobivity.com
• Farron Research
• Toluna - community style
3.
DO THE
RESEARCH!
DIY QUANTITATIVE RESEARCH
‣ SurveyMonkey.com
‣ OptimalWorkshop.com
‣ Optimal Sort
‣ SoGoSurvey.com
‣ buzztable.com - Guest
Manager
‣ Facebook surveys
‣ Google Forms
27
• FluidSurveys.com
• OpinionLab.com
Blend with other solutions
• Square - squareup.com/au
• Salesforce Small Business
Solutions
3.
DO THE
RESEARCH!
HOW DO YOU DO QUALITATIVE RESEARCH? 27
‣ OptimalWorkshop.com
- Reframer
‣ survata.com to find an
audience
‣ Target market -
interview or focus
group requests
2.
DEVELOP THE
RESEARCH PLAN
‣ Human analysis, more
time consuming
‣ Observations or one-way
glass!
‣ Cheese and wine nights /
dinner party style
MARKET RESEARCH RESULTS 9
‣ Think about your
audience
‣ Charts and tables
‣ Verbatim quotes
‣ Pictures / videos (especially
for UX)
‣ Personas / Customer
segments
‣ Be aware of bias in
response (and your own)
7%
8%
10%
11%
29%
35%
COMMERCIAL TV
PAY TV / NETFLIX
RADIO
SOCIAL MEDIA
NEWSPAPERS
BLOGS
CHOICE OF MEDIA
4.
INTERPRET AND
REPORT
RECAP 31
‣ Market research is the science of understanding our customers
‣ It can be applied at all stages of the business lifecycle, and can take
many different forms
‣ Qualitative / Quantitative
‣ Digital / In person
‣ DIY / with expert help
‣ Make sure you have clearly defined your research objectives before
you make decisions
‣ Humans are not black and white - your job is to interpret the results to
uncover insights and actions
Q&A
32KNOW YOUR CUSTOMER - INTIMATELY

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Know Your Customer Intimately

  • 1. KNOW YOUR CUSTOMER - INTIMATELY Jeanette Cheah ANZ Group Innovation
  • 2. INTRODUCTION 3 SO… 
 TELL ME ABOUT YOURSELVES. WHAT? WHY? COFFEE ORDER?WHO?
  • 3. IN TODAY’S SESSION ‣ What is market research? ‣ How it applies to the business cycle ‣ How does it work? ‣ Making it real with DIY resources 4
  • 4. WHAT IS MARKET RESEARCH? KNOW YOUR CUSTOMER - INTIMATELY
  • 5. 6WHAT IS MARKET RESEARCH? www.dollarphotoclub.com
  • 6. 9 “Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals.” - David Ogilvy WHAT IS MARKET RESEARCH?
  • 7. 10 “It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” - Who Else? (Steve Jobs) WHAT IS MARKET RESEARCH?
  • 8. 11 “Without data you’re just another person with an opinion.” – William Edwards Deming http://startupquotes.startupvitamins.com/ WHAT IS MARKET RESEARCH?
  • 10. 14MARKET RESEARCH IN BUSINESS BUSINESS MATURITYBUSINESS INCEPTION GREEN- FIELDS IDEA PITCH FOR $$ USER TESTING GO TO MARKET PLAN HOW TO SCALE BRAND / VOICEVALIDATE MVP MAKING THINGS BETTER
  • 11. MARKET RESEARCH IN BUSINESS 17
  • 12. 18MARKET RESEARCH IN BUSINESS BUSINESS MATURITYBUSINESS INCEPTION GREEN- FIELDS IDEA PITCH FOR $$ USER TESTING GO TO MARKET PLAN HOW TO SCALE BRAND / VOICEVALIDATE MVP MAKING THINGS BETTER
  • 13. MARKET RESEARCH IN BUSINESS MAKING THINGS BETTER “By proactively seeking customer feedback… we’ve ‘saved’ $60 million worth of home loans…” - ANZ Executive, 2015
  • 14. MARKET RESEARCH IN BUSINESS 19 http://vinomofo.com/ http://www.vision6.com.au/ https://www.youtube.com/watch?v=Ei5qVoYqzMc VINOMOFO uses research and insights to drive their ‘unignorable’ email and content strategy. WATCH: Andre Eikmeier, co- founder, Joint CEO of VINOMOFO BRAND / VOICE
  • 15. KEY CHALLENGE/QUESTION How might you apply market research help the MM and PM in this situation? CASE STUDY SUMMARY To increase sales for a particular product, a Marketing Manager (MM) and Product Manager (PM) were asked to create an offer to entice new customers. The General Manager of the business thought that a significant discount would be appropriate and put pressure on the MM and PM to make it happen. The MM and PM knew that this would cost the business a lot of money, and might not have guaranteed results - but also want to make their boss happy and hit their sales targets. A BANK 21
  • 16. CHECKING IN 22 SO… 
 HOW ARE WE GOING? www.dollarphotoclub.com
  • 17. THE MARKET RESEARCH PROCESS KNOW YOUR CUSTOMER - INTIMATELY
  • 18. 24 1. DEFINE THE PROBLEM 2. DEVELOP THE RESEARCH PLAN 3. DO THE RESEARCH! 4. INTERPRET AND REPORT THE MARKET RESEARCH PROCESS 5. CHOOSE BUSINESS ACTIVITIES
  • 19. MARKET RESEARCH - TYPES Quantitative ‣ Data-driven - volume ‣ Statistical, choices ‣ Check-boxes, scales ‣ Closed-ended questions ‣ Do you like ice cream? ‣ How often do you..? ‣ Rate your experience… 26 Qualitative ‣ In-depth, more emotional ‣ Interviews, focus groups ‣ Picture descriptions ‣ Open-ended questions ‣ “Complete this sentence…” ‣ “How do you feel when…” ‣ Tell me about a time…” ‣ “What do you associate with…” 2. DEVELOP THE RESEARCH PLAN
  • 20. HOW DO YOU DO QUANTITATIVE RESEARCH? Methods ‣ Desktop research ‣ Mobile - SMS, voice, MMS ‣ Online surveys, APIs on your website ‣ Web/email forms ‣ Point of sale - QR codes, receipts tablet positioned on table 27 Expert help - online • rantandrave.com • Stable Research • researchnow.com • medallia.com • mobivity.com • Farron Research • Toluna - community style 3. DO THE RESEARCH!
  • 21. DIY QUANTITATIVE RESEARCH ‣ SurveyMonkey.com ‣ OptimalWorkshop.com ‣ Optimal Sort ‣ SoGoSurvey.com ‣ buzztable.com - Guest Manager ‣ Facebook surveys ‣ Google Forms 27 • FluidSurveys.com • OpinionLab.com Blend with other solutions • Square - squareup.com/au • Salesforce Small Business Solutions 3. DO THE RESEARCH!
  • 22. HOW DO YOU DO QUALITATIVE RESEARCH? 27 ‣ OptimalWorkshop.com - Reframer ‣ survata.com to find an audience ‣ Target market - interview or focus group requests 2. DEVELOP THE RESEARCH PLAN ‣ Human analysis, more time consuming ‣ Observations or one-way glass! ‣ Cheese and wine nights / dinner party style
  • 23. MARKET RESEARCH RESULTS 9 ‣ Think about your audience ‣ Charts and tables ‣ Verbatim quotes ‣ Pictures / videos (especially for UX) ‣ Personas / Customer segments ‣ Be aware of bias in response (and your own) 7% 8% 10% 11% 29% 35% COMMERCIAL TV PAY TV / NETFLIX RADIO SOCIAL MEDIA NEWSPAPERS BLOGS CHOICE OF MEDIA 4. INTERPRET AND REPORT
  • 24. RECAP 31 ‣ Market research is the science of understanding our customers ‣ It can be applied at all stages of the business lifecycle, and can take many different forms ‣ Qualitative / Quantitative ‣ Digital / In person ‣ DIY / with expert help ‣ Make sure you have clearly defined your research objectives before you make decisions ‣ Humans are not black and white - your job is to interpret the results to uncover insights and actions
  • 25. Q&A 32KNOW YOUR CUSTOMER - INTIMATELY