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How to use Mind Genomics(R) IdeaMap(R).net to determine Generation X and Y's New Digital Media preferences.
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Mirror, Mirror on the Wall…New Digital Media for ALL Products & Services for Generations X & Y
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Howard R. Moskowitz, Nadya Livshits, Linda Ettinger Lieberman, Moskowitz Jacobs, Inc.
Batool Batalvi, S B & B Marketing Research
Stephen D. Rappaport, Advertising Research Foundation
In the 21st century…companies will develop
New Digital Media products/services…What should they be?
Find out with…. Empathy & Experiment ™
Topics of Discussion
Psychology of Empathy ..and Science of Experiment
Is it about the product – or is it about the subject?
Data...data… Mind Genomics® of the New Digital Media oWhy a study?oHow?o So?
Segmentation Wizard™ – here is a person..offer?
Where do we begin?
•5 KEYS EMPATHY- look at ethnography/qualitative/ psychodynamics to decode ‘what works’
•It’s about who- the subject
•EXPERIMENT- gather ideas about the subject and run structured tests to discover messages about products/ services and create a typing tool
•Mix and match ideas, what floats to the top
Empathy & Experiment ™
Do we even know our customer?
But first…
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What do Generations X and Y want and need?
• What New Digital Media services/products
do they want?
• How much they are willing to pay for them?
• Are there different consumer mind-sets?
Well, let’s find out!
IDENTIFY YOUR TARGET MARKET
Gender: 49% Female/51% Male Age: 48% 18-29 years Nationality: American Family Status: 60% Single Annual Income: 28% < $30K 59% >$30Kbut < $100K 12% > $100K Education: 43% college 13% grad/professional Ethnicity: Caucasian/Black/ Asian/Latino Neighborhood: City/Suburban
You want a future..but..…You want a future..but..…
Just who exactly is YOUR Customer? Just who exactly is YOUR Customer?
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•Do an experiment
•Mix and match ideas
•Present to respondents
•Get interest
•Deconstruct…what floats up?
Let’s use a different problem approach
Use Mind Genomics® IdeaMap ®.net Use Mind Genomics® IdeaMap ®.net to create messaging for people to create messaging for people
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DEVELOP SURVEY STIMULI AND QUESTIONS
Users of New Digital
Media Devices and Services
ANALYZED SURVEY RESULTS→ Mind Genomics® IdeaMap ®.netMind Genomics® IdeaMap ®.net
INTERNET invitation
Mind Genomics ® ® IdeaMap.netnetSUY SURVEY
IDENTIFY YOUR TARGET MARKET
Total Sample
Seg 1 Self Driven Online
Banking Seekers
Seg 2 Technology/
High Security Seekers
Seg 3 Collaborative
Online Seekers
Seg 4 Personal Touch with Technology
Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26
OC1 Connect online in 'real time' with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13
OC3 Faster loan application process…work in real time online with a loan officer 0 0 -8 12 -8
OC4 Our bank's customer service reps will help you browse and use our online banking services -1 0 -6 10 -10
OC2 Use our online tool to find and schedule at your convenience an online working session with an expert such as investment broker, insurance agent, and/or loan officer -3 1 -11 6 -12
ON3 We will answer all your requests in 'real time' by email, instant or text messaging 1 7 -11 3 -1
ON4 We offer 'On demand' status reports for services requests (e.g., loan application) delivered to you via e-mail, text or instant messaging
1 6 -4 -3 0ON2 No more paper mail... We will send you statements and images of
transactions securely by email -2 5 -17 -5 2ON1 We allow you to pay bills securely using your mobile devices (cell
phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2
BR3 We offer a bank-issued smart card so we can recognize you entering the branch and process your needs faster 4 2 6 -3 13
BR4 Choose a secure eye or finger security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3
BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster 2 -1 8 -5 6
BR1 We will recognize our customer's mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services -4 -3 -6 -11 2
Online Collaborative
Online Other
In-Branch Recognition
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES
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WHAT DO WE ALREADY KNOW?
Regardless of the features/services companies provide:
• Consumers are shifting how they use traditional communication tools.
• Consumer device decisions become an actual/virtual reflection
• Consumer level of engagement changes daily
• Consumers’ physical face-to-face communications will decrease, perhaps marginalizing non-users, with a potential loss of social skills.
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WHAT DO WE ALREADY KNOW?
Regardless of the features/services companies provide:
• Consumers will increase the amount of time they spend re-making their image as reflected in social media
• Consumers forge new relationships,re-establish old ones and discover other people with common interests.
WE PUT TOGETHER A SIMPLE SURVEY
• Set up a conjoint online study• Concept stimuli • 7 categories of features/services
• Survey invitations• Sent to a panel of 300 respondents• 18 years of age and older
• Survey • Run October 15, 2012• Web-based internet research engine Mind Genomics® IdeaMap®.net
• Consumers asked 2 rating questions:
1) How likely would you be to subscribe on a monthly basis to this menu of services from the NEW MEDIA CORPORATION?
1=Definitely not subscribe ... 9=Definitely subscribe
2) If NEW MEDIA could deliver this specific menu, what should it charge PER MONTH?
1=Free 2=$9.99 3= $39.99 4=$5.99 5=$1.99 6=$19.99 7=$3.99 14
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ORIENTATION SCREEN-ORIENTATION SCREEN-the first screen survey participants saw the first screen survey participants saw
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Each respondent saw and rated a total of 48 concept screensEach respondent saw and rated a total of 48 concept screens(unique combinations of elements), first on overall interest…..(unique combinations of elements), first on overall interest…..
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……then asked to put their own price on a monthlythen asked to put their own price on a monthly subscription for the servicesubscription for the service
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What is appealing?
How do you feel when you read the concept?
• The data revealed four distinct respondent mind-sets
• “What to say”…. “What not to say”
• Will some messages make a respondent subscribe
to New Digital Media services?
Let’s see what we tested and what we found
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Each respondent saw and rated a total of 48 concept screensEach respondent saw and rated a total of 48 concept screens(unique combinations of elements), first on overall interest…..(unique combinations of elements), first on overall interest…..
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The constant is 7 – it is LOW. The elements don’t increase the propensity too much either…
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Segment 1: Focus on Self-Experience
Segment 2: Knowledge: Learn New & Share Mine
Segment 3: Externalize & Involve Me
Segment 4: Socialize Me
DIFFERENT CONSUMER MIND-SETS:WHAT THEY WANT AND DON’T WANT
Segment 1: Focus on self-experience
Segment 2: The Knowledge-Segment 2: The Knowledge-Learn New & Share Mine ViewpointLearn New & Share Mine Viewpoint
Segment 3: The Externalize &Segment 3: The Externalize &Involve Me ViewpointInvolve Me Viewpoint
Segment 4: The Socialize Segment 4: The Socialize Me ViewpointMe Viewpoint
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Introducing Segmentation Wizard™Online example
http://www.mjiweb.com/mjitt/Media/Media.htm
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On the spot… we know what to say On the spot… we know what to say or avoid saying for or avoid saying for Segment 1: Focus on Self-ExperienceSegment 1: Focus on Self-Experience
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On the spot… we know what to say On the spot… we know what to say or avoid saying for Segment 2:or avoid saying for Segment 2: Knowledge: Learn New & Share MineKnowledge: Learn New & Share Mine
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On the spot… we know what to say On the spot… we know what to say or avoid saying for Segment 3:or avoid saying for Segment 3:Externalize and Involve MeExternalize and Involve Me
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On the spot… we know what to say On the spot… we know what to say or avoid sayingor avoid sayingSegment 4: Socialize MeSegment 4: Socialize Me
NOW YOU KNOW HOW TO REACH GENERATION X & Y CONSUMERS…
For further information on Empathy & Experiment™
Contact Moskowitz Jacobs Inc. • call 914-421-7408 e-mail mjihrm@sprynet.com
•Visit our website www.mji-designlab.com
Thank you !
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