2.2 Laughlin, P. (2014), Holistic customer insight as an engine of growth

Question 1

What are customer insights

Answer 1

A non-obvious understanding of your customers, which, if acted upon, has the potential to change their behaviour for mutual benefit

Question 2

There are four critical technical areas that go to make up a holistic definition of customer insights.

Answer 2

• Customer data management
• Analytics teams
• Consumer research
• Database marketing

Question 3

what is in the centre of customer insight engien

Answer 3

Customer data is at the centre.
- Ensuring data quality and a permission-based approach to data usage is key to its smooth working

Question 4

Converging evidence. (arrow in engine)

Answer 4

• researchers pool the evidence they have, usually defined by product/channel/segment or with relevance to a specific business issue. common themes emerge and can be used to generate an understanding of how and why certain behaviours are apparent.

Question 5

Test hypotheses (arrow in engine)

Answer 5

Variants of the proposition should form a test construct for database marketing experimentation

Question 6

Feel experiences (arrow in engine)

Answer 6

• the customer insight team is informed not only as to whether a business change has driven a desired behaviour, but also how customers perceived this. That then naturally leads on to converging the analytical and research evidence from real-world testing, as in the first step.

Question 7

How does the angine (virtuos curcle) work?

Answer 7

Akin to an engine, the point of this activity is to drive action by the wider organization (the rest of the vehicle), leading to improved commercial returns and better customer experiences (progress in the wider world).