Blog articles about Telecom
Decision behavior amidst disruption
Adapting your marketing mix for short and long-term success
Adapting your pricing and NRM strategies
How to optimize your eCommerce strategy during disrupted consumer behavior
Exploring psychological distance, social distancing and decision
Decision behavior amidst disruption
COVID-19 is changing consumer decision behavior. Stay-at-home guidelines and stock shortages have accelerated online behavior and trials of new product choices. Which behavioral shifts will last?
As marketers, you need to quickly adapt to consumers’ short-term needs, while also keeping an eye on shoring up your long-term strategies.
To make the right decisions, it’s vital to understand the fundamentals of decision behavior.
The SKIM Habitual-Deliberate Decision Loop provides a framework for companies to understand decision behavior and help guide their business strategies – to achieve both short- and long-term goals.
It is especially useful to understand how COVID-19 dramatically changed the context of decision making. For consumers, the global crisis triggered a disruption, moving their “habitual” purchase decisions to more “deliberate” shopping behavior. With over 40 years of expertise analyzing consumer behavior, we’re here to help with tips and best practices.
Read more about the steps you can take to adapt to consumer decision behavior in the wake of COVID-19.
Adapt your marketing mix for short and long-term success
You know you need to adapt your marketing mix as you react to unprecedented events. To thrive in both the short and long term, it’s important to adapt your “4Ps” (product, place, promotions, and price) in the context of decision behavior.
The 4Ps are the factors you can control, despite uncertain times. Ensuring your strategy for each one is rooted in behavioral frameworks will give you the competitive edge.
Read on for practical considerations to keep in mind when using the traditional 4Ps.
A real-world market research case study with Big Data
The market research industry is no stranger to consumer data. However, the scale of “Big Data” generated through online behavior brings a host of challenges and opportunities for insights professionals and marketers alike. As consumers leave an endless supply of digital breadcrumbs online, how can we most effectively analyze and act on this behavior at the individual level?
Such was the challenge ArchDaily.com faced after amassing 20 terabytes of Big Data over the past three years. As the leading architectural website worldwide, interpreting this data was much more complicated than it had anticipated. With 150-200 million-page views a month, the company could see behavior volumes. However, ArchDaily.com didn’t know what was driving user behavior. It wanted to better predict architectural trends for and identify key drivers to optimize its online content strategy.
Understanding decision-making and choice overload in crowded markets
In today’s highly competitive telecommunications market, consumers face an abundance of choices online. To thrive in this environment, your product portfolio strategy should be optimized based on how decision-making is changing. You need to know how customers identify the best carrier and plan for their needs. And that’s where the most accurate customer and market insights can help.
Today’s subscription economy not only presents consumers with more choices, but also more personalized experiences. For telecom, tech and online brands these heightened expectations place even greater pressure on maximizing the revenue per user.
Whereas in the past you could position your products and services based on traditional demographic insights, those rules no longer apply today — especially when it comes to pricing.
Voice technology and Artificial Intelligence were all the buzz at IFA, Germany’s largest consumer electronics show in September. Established players launched new products in Europe and there were a few surprise offerings from new market entrants.
Google introduced its premium smart speaker -the Google Home Max- here in Germany, along with a bilingual voice assistant feature that responds to queries in English and German interchangeably. And telecom giant Deutsche Telekom introduced plans for its own smart speaker activated with the magic words “Hallo Magenta.” This introduction is the first smart speaker coming from a German company and includes Amazon’s voice assistant “Alexa” too.
As I was setting up our new office in the heart of Berlin, I reflected on how much technology has disrupted consumer behavior from the time I grew up here. Is Voice all hype in Germany? How and will German consumers embrace these AI technologies? What are the implications for brands?
Here I’m sharing the Germany insights, which we unveiled at ESOMAR Congress 2018 in Berlin.
Originally designed for the desktop environment, conjoint research on mobile requires a more innovative approach
Ensuring your market research survey is mobile-friendly is no longer a “nice-to-have” for insights professionals. With more survey respondents opting for smartphones and tablets over computers, this requirement poses an ever greater challenge for conjoint analysis.
Conjoint is the go-to methodology for measuring customer preference for product features, to determine how pricing changes affect product demand and to forecast likely acceptance of new innovations. However, it was originally designed for desktop and doesn’t marry well with the smaller screen sizes and shorter attention spans of today’s mobile respondents.
As telecom and technology markets are continually disrupted, our approach to their specific market research challenges needs to evolve with them.
What are you to do when you’re facing intense price competition, losing volume to the competition or launching new product innovations? Today’s digital consumers have more telecom and technology product options than ever before. For marketers in these industries, historical data will only take you so far when optimizing your product portfolio.
And the challenge only becomes more complex when you consider how today’s empowered consumers make purchase decisions differently than they did just a short time ago.
Every customer’s decision journey is unique, especially in an omnichannel world. Customer journey mapping allows marketers to understand the different stages customers go through before, during, and after purchase. It also examines how to influence customers at the various stages of their journey.
Whether you’re a CPG brand manager or a B2B marketer, your customer’s decision journeys are complex, dynamic, and easily disrupted by new options and inputs – online and offline. Today’s omnichannel world has created a new path to purchase for consumers, business professionals, and healthcare decision makers. Their decision journey is influenced by technology and media that didn’t even exist a few years ago, but do you know how, where, and when?
On October 27th, the European Parliament voted in favor of a proposal on net neutrality. As part of this proposal, it was also decided that roaming costs within EU territory will be abolished, starting June 1, 2017. This does not concern all roaming, but “roaming within the range of normal usage”. It isn’t yet quite clear how normal usage is defined, and we have to wait until the end of this year to find out.