“Product” can be a physical object, software, a service, or a combination of these. “Market” can refer to target audience segments, ideal customer profiles, personas, or a combination. The “fit” is the magic. “Product-market fit means being in a good market with a product that can satisfy that market.” -Marc Andreessen, co-author of Mosaic, co-founder … Read more
Delivering a high-quality customer experience on a consistent basis converts customers into enthusiastic brand advocates – people who genuinely want to tell their friends and colleagues about the experience your products and/or services deliver. And they might even post on their social media platforms, which is incredibly strong (and essentially free) marketing – boosting levels of … Read more
“The B2B landscape is undergoing significant transformation. Fueled by rapid integration of digital technologies, sellers continue to invest, innovate, and experiment with how they present their offerings. Their B2B customers are shifting toward consumer-like purchasing behavior. They’re also demanding a much more sophisticated buying experience and are willing to walk away if they don’t get … Read more
To personalize a consumer experience, you must tailor interactions based on customer data such as demographics, purchase history and preferences. As customer expectations have evolved, so has the need for more sophisticated approaches. Enter hyper personalization. While personalization might involve sending a targeted email based on past purchases, “hyper personalization” predicts future behavior and proactively … Read more
Ecolabels and green stickers are labeling systems for food and consumer products. The use of ecolabels is voluntary, whereas green stickers are mandated by law; for example, in North America major appliances and automobiles use Energy Star. They are a form of sustainability measurement directed at consumers, intended to make it easy to take environmental concerns into account when … Read more
The return on investment of artificial intelligence is multifaceted and extends beyond mere financial metrics. While the cost efficiency and operational optimizations are tangible and quantifiable benefits, the enhanced decision-making, personalized customer experiences, revenue growth, and risk mitigation contribute to the holistic value proposition of AI adoption. Innovation that Drives Revenue Growth and Market Expansion … Read more
“Better decisions make a better world. However, improving decisions is a messy and difficult thing.” – The Decision Lab There is a common misconception that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. Behavioral economics looks at the differences between what people “should” do and what they actually do … Read more
Lifetime Value (LTV), sometimes referred to as Customer Lifetime Value (CLV), is the average revenue a single customer is predicted to generate over the duration of their account. Customer Acquisition Cost (CAC) is the average expense of gaining a single customer. The ratio of lifetime value to customer acquisition cost helps you determine how much … Read more
Voice of the Customer (VoC) programs are great for capturing, measuring, and, ultimately, improving your customer experience. But how do you take those great customer insights and get them from idea to solution? Ideas to improve or enhance an organization’s products and services can come from many sources. Sometimes it’s the people within the organizations … Read more
Generation Z, is the youngest, most ethnically-diverse, and largest generation in American history, comprising 27% of the US population. Pew Research recently defined Gen Z as anyone born after 1997. Gen Z grew up with technology, the internet, and social media, which sometimes causes them to be stereotyped as tech-addicted, anti-social, or “social justice warriors.” Millennials currently hold the … Read more
As organizations grow in size and the buying cycle gets more complex, maintaining a one-to-one relationship with prospects and customers at every stage of the buyer’s cycle can be quite an arduous task. It takes years to win a customer. Building a positive customer experience is not an overnight process. You have to spend a … Read more
According to Greg Chapman, Founder and CEO of The Pocket CMO, ‘customer segmentation provides a comprehensive understanding of your current and potential consumers that produces a variety of rich data including identifying the financially-optimal targets for your brand.’ Greg shares that: “Profiles are built from data. Personas are built from insights. You don’t market to … Read more