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Paul Laughlin, Managing Director, Laughlin Consultancy
The Softer Skills Data Scientists also need to make an impact in business
Career within Lloyds Banking Group
❖ Created & lead customer insight teams for all the major insurance brands, products & channels used by Lloyds Banking Group over 13 years
❖ Added over £11m incremental profit to bottom line annually
❖ Pioneered work with Financial Conduct Authority on Behavioural Economics in communications
❖ Developed capability in team of 44 & mentored next generation of leaders
Helping Businesses
“Helping businesses make money from customer insight”
Laughlin Consultancy helps companies maximise sustainable value from their customer insight, for example by growing their bottom line, improving customer retention and demonstrating to their regulator that they treat customers fairly.
Socratic questioning❖ Aim is to help client have clarity on
need not just what they want:
❖ Concept clarification questions
❖ Probing assumptions
❖ Probing rationale, reasons & evidence
❖ Questioning viewpoints & perspectives
❖ Probe implications & consequences
Design MapWhat do we
already know?
What am I missing?
How could I fill this gap?
How am I going to communicate
findings?
What are the Hypotheses?
You could start at any point in the cycle but you should look to
address all elements in completing your
analysis
Who
Use / Involvement / Experience
Shopping/Buying
Engagement / Influences▪What characterises the customer/ segment−demographics−stage of life−attitudes−behaviours−dissatisfactions −routines−etc
▪What are their chief concerns in life (attitudinal data)?
▪What are their key needs and aspirations?
▪What are their circumstances and what is going on in their lives that impacts how they see the category?
▪What motivates them?
▪ What are their preferred channels for researching and purchasing products and how does this compare with other types of products?
▪ How do they make a purchase decision and what factors are important?
▪ What are their attitudes to advice? What prompts/triggers them to seek advice?
▪ How do they perceive your brand vs other brands? (product category and wider)
▪ How do they become aware of the category?
▪ What is there attitude to planning for the future? When do they think ahead, what triggers this?
▪ When do they reconsider their choices? What prompts change?
▪ What and who influences them and their choices? Who do they turn to for guidance/information/ recommendations?
▪ What competitive product holdings do they have and why?
▪ When are they receptive to messages?
▪ What does the segment need and want when buying your products?
▪ What products are they most likely to buy and why?
▪ What is the current customer experience?
▪ What are the key dissatisfactions (irritations, frustrations etc) with the current process?
Pricing/Finances
▪ How engaged/informed/involved are they with regard to competitive pricing?
▪ What products do they hold? How does this contrast with other segments?
▪ What triggered their purchase? What stops them buying?
▪ Do they go on to buy something else? (us or competitor)
▪ What are their goals and to what extent do they plan their spend (budgets)?
Context questions
Communicating your analysis effectively
Question
Data Analysis Insight
Planning & DesignPresentation &
Distribution
Buy-in Sign-off
Storytelling
❖ People are engaged by stories
❖ Psychological studies show better attention & recall (esp. feelings)
❖ Common templates:
❖ “Just imagine, if…”
❖ “Wow! I’m going to tell… about this”
❖ The Burning Platform
Tufte’s rules for Data Visualisation
❖ Graphical integrity
❖ Data-Ink
❖ Chart Junk
❖ Data Density
❖ Small Multiples
Influencing the Action needed as a result
Question
Data Analysis Insight
Planning & DesignPresentation &
Distribution
Solution
Buy-in Sign-off
It’s all about taking Action
❖ Ensuring request is for action
❖ Designing analysis for action
❖ Including recommended actions
❖ Progress updates on action
❖ Measure effect of actions
Our Exercise = Back to Socrates
Concept Clarification:
❖ What exactly does X mean? Can you give an example?
Probing Assumptions:
❖ You seem to be assuming Y, please explain why?
Probing Rationale:
❖ What evidence is there to support what you are saying?
Questioning viewpoints & perspectives:
❖ Another way of looking at this is Z, is that better?
linkedin.com/in/paullaughlin
+44 (0)7446 958061
How to keep in touch
customerinsightleader.com
laughlinconsultancy.com
@LaughlinPaul