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Market Research Techniques for Effective Brand Management and Profitable Growth

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Market Research Techniques for Effective Brand Management and Profitable Growth Market Research Techniques for Effective Brand Management and Profitable Growth Presented to: Twelfth National Forum Customer Based Marketing Strategies Orlando, Florida Sue Reimbold Mark Rudzinski Vice President, Marketing and Managing Director Communications © 2007 Aeffect, Inc Agenda • Introductions • Opening Discussion: Current Practices • Rationale For This Session • Learning Objectives • Strategic Framework • Innovations in Formative Brand Research • Innovations in Evaluative Brand Research • Maximizing Your Research ROI © 2007 Aeffect, Inc. 2 Community Health Network • 5-hospital network serving Central Indiana area, including Indianapolis • Integrated delivery system featuring: – Community and tertiary level hospitals – Nationally recognized heart hospital – Owned primary care practices, urgent care centers, surgery centers – Extensive e-business portfolio • Joined in 2002 to rebuild marketing function, with a special focus on building a differentiated brand in the market place – “Inside out” in thinking about branding – Key goal was to reverse that process, and build our brand centered around our customers wants, needs, goals and expectations © 2007 Aeffect, Inc. 3 Aeffect, Inc. • Strategic marketing research and consulting firm based in Deerfield, IL • Serves clients across the health care sector: – Providers and payors – Pharma/Device – Governmental: CMS and CDC • Extensive corporate practice: – Consumer packaged goods – Business services – Media and entertainment – Travel/tourism – Technology – Finance • Scope of engagements: – Market segmentation and profiling – Brand development and monitoring – Communications planning, evaluation and tracking © 2007 Aeffect, Inc. 4 Agenda • Introductions • Opening Discussion: Current Practices • Rationale For This Session • Learning Objectives • Strategic Framework • Innovations in Formative Brand Research • Innovations in Evaluative Brand Research • Maximizing Your Research ROI © 2007 Aeffect, Inc. 5 Opening Discussion • What questions or issues are typically brought to your door? • What types of research activities is your organization engaged in? • Does your organization have a marketing information plan? • How do you determine what research you are going to do in a given year? • What are your motivations for attending this session? • What do you hope to learn? © 2007 Aeffect, Inc. 6 Agenda • Introductions • Opening Discussion: Current Practices • Rationale For This Session • Learning Objectives • Strategic Framework • Innovations in Formative Brand Research • Innovations in Evaluative Brand Research • Maximizing Your Research ROI © 2007 Aeffect, Inc. 7 Rationale for This Session 1. Market forces are elevating the priority of the consumer 2. Provider organizations striving to be more customer-centric 3. Driving need to understand consumers in a more intimate and nuanced fashion than before 4. State of research within the provider realm still at a relatively basic level 5. Emerging generation of marketing leaders have much more sophisticated demands regarding customer insight 6. Build on typical “Research 101” conference presentations © 2007 Aeffect, Inc. 8 Agenda • Introductions • Opening Discussion: Current Practices • Rationale For This Session • Learning Objectives • Strategic Framework • Innovations in Formative Brand Research • Innovations in Evaluative Brand Research • Maximizing Your Research ROI © 2007 Aeffect, Inc. 9 Learning Objectives 1. Provide a framework for taking a more strategic approach to marketing research 2. Explore sophisticated techniques that are commonplace in other sectors of the economy and how they can be applied to provider-sponsored brand research 3. Guidance on maximizing the return on your research investment © 2007 Aeffect, Inc. 10 Agenda • Introductions • Opening Discussion: Current Practices • Rationale For This Session • Learning Objectives • Strategic Framework • Innovations in Formative Brand Research • Innovations in Evaluative Brand Research • Maximizing Your Research ROI © 2007 Aeffect, Inc. 11 Strategic Framework for Brand Research • “Low hanging fruit” to increase innovation and effectiveness of your brand research is not in the realm of methodology and technique • Focus on strategic management of marketing research investment • Develop a marketing information strategy for your organization: – Align research investment with brand development needs – Have a plan for ensuring timely stream of inbound intelligence that helps keep your brand fresh, relevant and differentiated – Integrate information across primary and secondary sources – Leverage all points of data collection: registration, patient satisfaction – Guide mid-course corrections, if needed – Serve as platform for accumulating actionable insight about targets – Provide rationale for spending/justifying your research dollars – Boost efficiency by eliminating ad hoc efforts that have little downstream impact • Cornerstone to truly differentiating your organization: anticipating and reacting to customers’ needs faster than your competition © 2007 Aeffect, Inc. 12 Strategic Framework for Brand Research • How do you align your research investment with brand development needs: – What is your organization’s approach/philosophy of marketing? – Probably the single most important questions you have in designing an effective marketing information platform • Our approach: Integrated Marketing Communications (IMC) Stage 1: Understanding Your Target Audiences • Segmentation • Knowledge, attitudes, beliefs • Values and expectations • Prioritization (lifetime value) Stage 2: Developing Stage 4: Evaluating Impact Strategies • Modeling ROI • Concept Evaluation • Database management and • Brand Positioning analysis • Message development • Refinement of segmentation • Communications Pre-testing Stage 3: Assessing Effectiveness • Monitoring In-market Response • Examining effect of comparative strategies © 2007 Aeffect, Inc. 13 Strategic Framework for Brand Research • Work through a basic business planning process just the same as if you were doing a service line plan: – Step 1: Assess your current state of activities: • Talk to key internal customers at a strategy level • Self-assess in a non-defensive manner – Step 2: Identify the ideal: • Not as if you “won the marketing budget lottery” • Use IMC as a framework to identify information needs – Step 3: Identify the gaps • What are the biggest deficit areas? How would you prioritize them • What are the barriers that need to be overcome? – Step 4: Develop the plan • What is the value proposition for this function/investment? Step 1: Step 2: Step 3: Step 4: SWOT Ideal Design Gap Analysis Develop the Plan © 2007 Aeffect, Inc. 14 Strategic Framework for Brand Research Case Study: Developing a Marketing Information Plan • Organizational challenge: address “vanilla” brand in market • Little hard information to go from—traditionally, branding internally driven by views of leadership, governance and physicians • Research consisted of traditional, “canned” image tracker: – “Preference”—dashboard item raised more questions than it answered – Factor analysis of questions showed a high level of repetitive content • Principal step: thinking through implications of IMC and identifying information needs: – Understanding consumer values – Brand monitoring – Consumer segmentation – Brand experience mapping – ROI • Mapped out 3-4 year time horizon, recognizing staff development, organizational education and budget issues © 2007 Aeffect, Inc. 15 Strategic Framework for Brand Research Case Study: Developing a Marketing Information Plan © 2007 Aeffect, Inc. 16 Introduction to Brand Research Case Study: Developing a Marketing Information Plan • Multi-stage process, which starts with a foundational understanding of the target audience’s mindset and motivations. • Each year, new information is added to deepen our understanding of audience segments and evaluate their response to programs and communications that have been developed using previously collected insights. YEAR ONE YEAR TWO YEAR THREE Formative brand research Segmentation data modeling Segment profiling Brand development Brand monitoring Key behaviors Brand modeling Brand experience mapping Message strategy implications Segmentation data collection Lifetime value modeling Brand monitoring progression of learning © 2007 Aeffect, Inc. 17 Introduction to Brand Research • How does your organization approach brand research? • What types of research activities do you engage in related to your brand? • What has worked especially well? • What fell short of expectations? © 2007 Aeffect, Inc. 18 Introduction to Brand Research • Think of brand research in two key categories: – Formative research: • Understanding values, segmenting and profiling audiences • Outcome: inform key inputs to successful brand positions—target audience definition, frame of reference to category and points of differentiation – Evaluative research: • Monitoring in-market brand performance, mapping brand experience, modeling and measuring brand equity and commitment • Outcome: measure progress toward brand development goals and guide mid-course corrections © 2007 Aeffect, Inc. 19 Introduction to Brand Research Rummaging through the toy chest . Qualitative Research Quantitative Research Formative Research • Value chain modeling • Segmentation modeling • Innovative qualitative • Behavior modeling techniques • PRIZM applications • Qualitative panels Evaluative Research • Brand experience • Measuring brand equity mapping • Measuring brand • Hot
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