CUSTOMER VALUE IN THE NOW ECONOMY

Circa late 16th century, the Old World -- the early era of colonization. Why did our ancestors leave England to establish a colony in the New World? Why would they leave the “safe” conditions of England for unknown lands?
Most of England’s populace was ‘country folk’ with little education and even fewer choices as to life decisions. The vast majority of the people were peasants and received little education and had few vocational opportunities beyond being a peasant. There were comparatively few families we would call middle class. London was overcrowded due to a population boom plus arrival of peasants who could not find reasonable employment in the countryside. It was congested with an overwhelming stench. In society, self-indulgence was rampant, rudeness ruled, and social disintegration was evident. Corruption was rampant, at all levels of society.

Religion and church were major issues. The establishment Catholic Church was being challenged by Protestants. Europe and England were in…

Finding superior customer value often requires market research to solve a problem, identify an opportunity, or understand customer behavior.Both qualitative and quantitative market research are useful tools.In quantitative market research, survey design can be a challenge. Writing a useful questionnaire is part art and part science. The purpose of a questionnaire is to gather marketing information that helps you make an informed decision.Once you have decided on the objectives of the market research, how you will use the information, who your respondent target is, and any decision criteria, it is time to draft the questionnaire. Here are 10 helpful guidelines:


1.Include a brief (2 or 3 sentences) introduction to the questionnaire telling the respondent about the questionnaire, thanking the respondent, detailing the estimated time to completion and assuring respondents of the confidentiality of their answers. This will help increase the response rate.
2.Begin the survey with a screening …

[The North Star Metric (NSM) is the single metric that best captures the core value that your product delivers to customers. Optimizing your efforts to grow this metric is key to driving sustainable growth across your full customer base.]  Sean Ellis

           A new and powerful measure that impacts marketing performance (revenue generation and profits) is the North Star Metric (NSM), born in Silicon Valley. Examples of North Star Metrics include Facebook’s daily active users and Airbnb’s night bookings for hosts and guests. An NSM is a single item metric that calculates the overall value that your products and services deliver to customers. Companies using this innovative approach must identify sub-variables that can positively move this measure – e.g., inquiries, user signups, new user activations, customer journey assessments and engagement and retention measures (Ellis, 2017). Bucky Barlow brilliantly explains this idea: “Like its namesake Polaris in the sky, your North Star Metric…