Presentation for 2012 nextMedia in Toronto, Canada

Download Presentation for 2012 nextMedia in Toronto, Canada

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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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  • 1. Mirror, Mirror on the WallNew Digital Media for ALL Products & Services for Generations X & Y Template Powered by www.RedOffice.com Howard R. Moskowitz, Nadya Livshits, Linda Ettinger Lieberman, Moskowitz Jacobs, Inc. Batool Batalvi, S B & B Marketing Research Stephen D. Rappaport, Advertising Research Foundation

2. In the 21st century companies will develop New Digital Media products/services What should they be? Find out with. Empathy & Experiment 3. 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 o Why a study? o How? o So? Segmentation Wizard here is a person..offer? 4. Where do we begin? 5 KEYS EMPATHY- look at ethnography/qualitative/ psychodynamics to decode what works Its 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 5. Do we even know our customer? But first 6. 6 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, lets find out! IDENTIFY YOUR TARGET MARKET 7. 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? 8. 8 9. 9 10. Do an experiment Mix and match ideas Present to respondents Get interest Deconstructwhat floats up? Lets use a different problem approach 11. Use Mind Genomics IdeaMap .netUse Mind Genomics IdeaMap .net to create messaging for peopleto create messaging for people 11 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 processwork 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 0 ON2 No more paper mail... We will send you statements and images of transactions securely by email -2 5 -17 -5 2 ON1 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 12. 12 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. 13. 13 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. 14. 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 15. 15 ORIENTATION SCREEN-ORIENTATION SCREEN- the first screen survey participants sawthe first screen survey participants saw 16. 16 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.. 17. 17 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 18. 18 What is appealing? How do you feel when you read the concept? 19. 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? Lets see what we tested and what we found 19 20. 20 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.. 21. 21 The constant is 7 it is LOW. The elements dont increase the propensity too much either 22. 22 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 DONT WANT 23. Segment 1: Focus on self-experience 24. Segment 2: The Knowledge-Segment 2: The Knowledge- Learn New & Share MineLearn New & Share Mine ViewpointViewpoint 25. Segment 3: The Externalize &Segment 3: The Externalize & Involve Me ViewpointInvolve Me Viewpoint 26. Segment 4: The SocializeSegment 4: The Socialize Me ViewpointMe Viewpoint 27. 27 $$ 28. 28 $$ 29. 29 $$ 30. 30 $$ 31. 31 $$ 32. 32 $$ 33. 33 $$ 34. 34 Introducing Segmentation Wizard Online example http://www.mjiweb.com/mjitt/Media/Media.htm 35. 35 36. 36 37. On the spot we know what to sayOn the spot we know what to say or avoid saying foror avoid saying for Segment 1: Focus on Self-Segment 1: Focus on Self- ExperienceExperience 38. 38 39. On the spot we know what toOn the spot we know what to saysay or avoid saying for Segment 2:or avoid saying for Segment 2: Knowledge: Learn New & ShareKnowledge: Learn New & Share MineMine 40. 40 41. On the spot we know what toOn the spot we know what to saysay or avoid saying for Segment 3:or avoid saying for Segment 3: Externalize and Involve MeExternalize and Involve Me 42. 42 43. On the spot we know what toOn the spot we know what to saysay or avoid sayingor avoid saying Segment 4: Socialize MeSegment 4: Socialize Me 44. NOW YOU KNOW HOW TO REACH GENERATION X & Y CONSUMERS 45. 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 46. Thank you !