MLC_Annual_Marketing_Plan_Full_Toolkit.pptx

PowerPoint Presentation

CREATE AN ANNUAL MARKETING PLAN

Full ToolkitCEB Marketing Leadership Council

11FRAMEWORK FOR ANNUAL MARKETING PLANNINGManage Planning LogisticsConduct Planning AnalysesPrioritize and Budget for Key InitiativesCommunicate Marketing Plan5Analyze past years marketing plan performance.8Identify marketing initiatives with the maximum growth potential.13Summarize key plan objectives, strategies, initiatives, and success measures.6Select a limited number of key analyses that will provide the most critical inputs for your current year marketing plan.9Short-list marketing initiatives with the maximum business and financial impact.14Set individual goals based on the marketing plans objectives.7Conduct the selected planning analyses needed to populate your marketing plan.10Identify the resources needed to execute planned marketing initiatives.15Create a dashboard to track the performance of the planned marketing initiatives.11Benchmark your marketing budget breakdown against that of your peers, as needed.12Create a marketing budget for executing the planned marketing initiatives.1List the business objectives your plan will help fulfillObjective Definition Tool (p.3-4)

2Identify stakeholders involved in plan creation.Marketing Plan Team Builder Tool(p.5-9)

3Create a workflow and timeline, and allocate planning responsibilities.Suggested Planning Activities (p.10-11)4Identify and select metrics to measure plan success.Planning Project Management Tool (p.12-13)Metrics Selection Tool (p.14-15)

OBJECTIVE DEFINITION TOOL3OBJECTIVE STATEMENT TOOLHow and when to use this tool: Use this worksheet to list business objectives of your current year marketing plan for ready reference. Use the illustrative examples given in the template below as a reference to state your objectives and success measures for each objective. Marketing PlanBusiness Unit-Level Marketing Goal: Increase gross revenue by 15%Marketing Plan ObjectivesMeasures1. Increase overall sales by 25% across Health Insurance products% Change in Sales for Current Year from Previous Year2. Increase customer loyalty across primary target segment (working professionals between the age groups of 18 to 35 years)Change in Net Promoter ScoreIllustrative Example, Alpha Insurance Company# 2014 The Corporate Executive Board Company. All Rights Reserved. 4MARKETING PLAN TEAM BUILDER TOOL5Build a marketing plan creation team that consists of representatives from Marketing as well as other departments that provide critical inputs to create your annual marketing plan.STRUCTURING A MARKETING PLANNING TEAMFacilitate provision of different data needed for external and internal analysis to be conducted to assess current and potential marketing capabilities, opportunities, and threats.Weigh-in and select most impactful marketing initiatives for the current year.Identify dependencies between different departments workflows and develop synergistic plans to execute marketing planning initiativesReview success of marketing planning initiatives against set objectivesIllustrative Example, Alpha Insurance CompanyProvide insights on company, competitor, and customer trends evidenced from traditional market research and customer data sourcesMarketing Research/ Analytics

Provide expertise on creating budgets and financial plans for current year marketing initiativesCorporate FinanceProvide voice of the customer inputs into marketing planningSalesProvide business unit objectives and current year priorities that influence current year marketing planBusiness Unit Head, Health InsuranceProvide guidance on how to align current year marketing planning objectives to overall strategic objectives Corporate PlanningServe as the chief facilitator and decision maker of the annual marketing plan creation team. (Vice President, Marketing) Plan LeaderCollective Roles and ResponsibilitiesNote: The figure on this page represents typical stakeholders involved in the marketing plan creation process. These stakeholder roles may vary for your company.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 6STAKEHOLDER INPUT ASSESSMENT TEMPLATEStakeholderRole In Marketing PlanningCritical Inputs RequiredCustomer InsightsProvide critical customer and competitor data for analysis and creating current year marketing initiatives.Brand Performance dataUsage and attitude studiesCustomer verbatimSegmentation dataSales1. Provide voice of customer inputs on customer experience, purchase process, channel partner management, etc.VOC survey findingsSales feedback formsHow to Use This Tool: Use this tool to create a list of key stakeholders who you will have to coordinate with to create your annual marketing plan. List out each stakeholder in the first column and write down their key priorities. Then mention all critical inputs that you require from the stakeholder (such as customer data, sales data, etc.). Illustrative Example, Alpha Insurance CompanyInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 7MARKETING PLANNING TEAM BUILDER TEMPLATEInstructions: Fill out the template below to identify individuals to staff your annual marketing plan creation team. In addition, use this template to list out the key roles, responsibilities and areas of expertise each member must have. Refer to the illustrative example on the Slide 5 of this deck to help you fill this template.Marketing Planning Team Roles and Responsibilities Charter[Enter collective team objectives][Insert the team members role, responsibilities and area(s) of expertise][Insert Designation]

[Insert the team members role, responsibilities and area(s) of expertise][Insert Designation][Insert the team members role, responsibilities and area(s) of expertise][Insert Designation][Insert the team members role, responsibilities and area(s) of expertise][Insert Designation][Insert the team members role, responsibilities and area(s) of expertise][Insert Designation][Insert the leaders role and responsibilities][Insert Plan Leader Designation]InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. STAKEHOLDER INPUT ASSESSMENT TEMPLATEStakeholderRole In Marketing PlanningCritical Inputs RequiredInstructions: Refer to the Slide 6 of this deck to fill this template.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. SUGGESTED PLANNING ACTIVITIES(Pdf Format)

10SUGGESTED PLANNING ACTIVITIESHow to use this Tool: This tool lists out the suggested activities needed to help you create an annual marketing plan.

To use the tool, follow the steps below:Double click on the icon below to open the PDF and access a list of marketing planning action steps.

# 2014 The Corporate Executive Board Company. All Rights Reserved. 11PLANNING PROJECT MANAGEMENT TOOL(Excel Format)12Planning project management ToolHow to use this Tool: The Planning Project Management Tool helps you create a schedule for your annual marketing plan.

To use the tool, follow the steps below:Double click on the icon below to activate the open the excel tool and read through the tool instructions. Next, scroll through the different tabs, to help you perform calculations and achieve desired outcomes.

# 2014 The Corporate Executive Board Company. All Rights Reserved. 13METRICS SELECTION TOOL(Excel Format)

14METRICS SELECTION ToolHow to use this Tool: The Metrics Selection Tool helps you select metrics to measure success of your marketing plan initiatives.

To use the tool, follow the steps below:Double click on the icon below to activate the excel interface of the tool and read through the tool instructions. Next, scroll through the different tabs, to help you perform calculations and achieve desired outcomes.

# 2014 The Corporate Executive Board Company. All Rights Reserved. 15FRAMEWORK FOR ANNUAL MARKETING PLANNINGManage Planning LogisticsConduct Planning AnalysesPrioritize and Budget for Key InitiativesCommunicate Marketing Plan1List the business objectives your plan will help fulfill.8Identify marketing initiatives with the maximum growth potential.13Summarize key plan objectives, strategies, initiatives, and success measures.2Identify stakeholders involved in plan creation.9Short-list marketing initiatives with the maximum business and financial impact.14Set individual goals based on the marketing plans objectives.3Create a workflow and timeline, and allocate planning responsibilities.10Identify the resources needed to execute planned marketing initiatives.15Create a dashboard to track the performance of the planned marketing initiatives.4Identify and select metrics to measure plan success.11Benchmark your marketing budget breakdown against that of your peers, as needed.12Create a marketing budget for executing the planned marketing initiatives.75Analyze past years marketing plan performance.Prior Year Performance Analysis Tool (p. 17-22)6Select a few optional planning analyses to populate your marketing plan.Planning Analysis Prioritization Tool (p. 23-24)Market Overview Tool (p.25-26)Competitive Positioning Tool (p.27-28)Trends Assessment Tool.(p.29-38)Customer Share Development Tool. (p.39-40)Monitor emerging consumer trends for your industry (B2C). (p.41-42)Customer Understanding Tool (p.43-62)Brand Health Scorecard (p.63-64)Competitive Differentiation Tool(p.65-78)

7Conduct the selected planning analyses needed to populate your marketing plan.PRIOR YEAR PERFORMANCE ANALYSIS TOOL

17STEP 1: ASSESS PRIOR PLAN PERFORMANCES.No.Prior-year Brand or Product Marketing InitiativesSuccess Metric TargetedActual Performance MetricReason for Success/Failure1. Simplify our product value proposition and existing marketing collateral to help sales speak sensibly about us.10% higher YoY conversion rate5% lower YoY conversion rateSimplified value proposition and collateral resulted in detail-oriented customers losing interest in our insurance policies.1How and when to use this tool: Use this tool to gauge the success of you prior-year brand or product marketing plan, even before you begin working on a current year plan. The following steps will help you fill out the table below:Begin by listing out the big initiatives you undertook last year, in the first column on the left. (Include all initiatives that made up ~80% of your marketing budget)In the second column, fill out the success metrics your team established for each initiative.In the third column, fill out the actual metrics your team achieved, compared to what it was tasked with.In the last column, for all the projects cite reasons for why the initiatives succeeded or failed.Refer to the examples in the first row to guide you in filling out the table below.Refer to slide 22 in the appendix of this tool for a list of commonly measured success metrics used my marketers.Illustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. 18

STEP 2: FACTOR IN CHANGING COMPANY GOALSHow and when to use this tool: Use the table below to identify how changing corporate goals will impact your brand/product marketing planning for the current year.The following steps will help you fill out the table below:In broad terms, fill out current and prior year marketing goals as they translate from the corporate to marketing and brand/product level.In the last column, note down how the goals may have changed at each level from the last year.Refer to the example table below to guide you in filling out the template belowPrior YearCurrent YearChangeCorporate ObjectivesMarketing ObjectivesBrand/Product Line Objectives22If youre not sure of the corporate-level objectives, fill out the bottom two rows with marketing objectives as the CMO or head of marketing would articulate themIllustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. 19STEP 3: Identify marketing initiatives1How and when to use this tool: The objective of filling out this tool is to identify 2-3 potential marketing initiatives for the current year. CEB Marketing recommends conducting additional detailed analyses as time allows to identify and focus in on the best possible initiatives. To fill out this tool:Use the column numbered on slide 18 and the cell numbered on slide 19 to fill out the top 2-3 learnings from those pages, in the left hand column. Next, in the right hand column, fill out corresponding marketing initiatives likely to build upon prior plan performance and account for changing goals.

Use the example table on the top to fill out the template for your company below.

12From column numbered on page 182From cell numbered on page 19S.No.Learnings from Steps 1 and 2Identified Marketing Initiatives

Illustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. 20

APPENDIX(Prior Year Campaign Analysis Tool)Commonly Measured Marketing Metrics# 2014 The Corporate Executive Board Company. All Rights Reserved. While creating a marketing dashboard, select the metrics that fulfill key information needs and can be sourced from currently attainable information.

Select marketing metrics that demonstrate current progress, analyze past performance and predict future success.

Effective marketing metrics are:Aligned to organizational goalsObjectiveReliableAccessibleMeaningfulSensitive (responsive to change)

The table on the right lists the metrics that marketers measured most frequently.COMMONLY MEASURED MARKETING METRICSMarket Share MetricsMarket ShareMarket Share GrowthMarket SizeMarket Share by Customer SegmentBrand Health MetricsBrand RecognitionBrand EquityBrand Attribute RecallBrand ValueBrand Price PremiumPurchase Funnel MetricsAwarenessPreferenceTrialRepeat PurchaseSales Volume and Cost of Sales MetricsTotal VolumeUnit VolumeMarketing Expenses as a Percentage of SalesCost per LeadCustomer Acquisition CostCost per SaleCost to ServeLoyalty MetricsWillingness to RecommendAttitudinal LoyaltyChurn RateShare of WalletNet Promoter Score (NPS)Customer Lifetime ValueMedia and Advertising MetricsImpressionsReachMessage RecallAided AwarenessUnaided AwarenessMessage AssociationCost Per Million ImpressionsGross Rating Points (GRP)Channel Awareness or AssociationSource: CEB Marketing Survey# 2014 The Corporate Executive Board Company. All Rights Reserved. 22PLANNING ANALYSIS PRIORITIZATION TOOL(Excel Format)

23PLANNING ANALYSIS PRIORITIZATION ToolHow to use this Tool: The Planning Analysis Prioritization Tool helps you select among the different optional analyses you need to do for your business.

To use the tool, follow the steps below:Double click on the icon below to open the excel tool and read through the tool instructions. Next, scroll through the different tabs, to help you perform calculations and achieve desired outcomes.

# 2014 The Corporate Executive Board Company. All Rights Reserved. 24MARKET OVERVIEW TOOL(Excel Format)

25Market overview ToolHow to use this Tool: The Market Overview Tool helps you get an in-depth understanding of the current state of the market and future market potential.


# 2014 The Corporate Executive Board Company. All Rights Reserved. 26COMPETITIVE POSITIONING TOOL(Excel Format)

27Competitive positioning ToolHow to use this Tool: The Competitive Positioning Tool helps you gauge the uniqueness of their brand/product offering and identify areas to capture competitive advantage.


# 2014 The Corporate Executive Board Company. All Rights Reserved. 28TRENDS ASSESSMENT TOOL

29Employ a series of objective screens to test trends for relevance, impact, and growth potential.

First, conduct a quick sanity check to screen out non-industry specific trends.

Second, define current core businesses and capabilities for your company and filter down to the trends with the largest impact on your core attributes, products, and services.

Third, evaluate trends based on criteria such as the competitive landscape and overall alignment to the portfolio, to determine trends, or innovation spheres, with significant growth potential.

OVERVIEW OF THE TREND SCREENING PROCESSUse Simple Screens to Test for the Growth Potential of Key Trends Core Impact AssessmentAlpha Health Insurance identifies 12 trends that will have the most impact on its core capabilities, products, and services. Megatrend Ranking ScorecardThe 12 most applicable trends are then assessed on multiple market attractiveness and technological criteria to stack rank the areas with the highest growth potential.Relevance ScreenForty most relevant trends enter the pipelineImpact ScreenTwelve trends with the largest impact on the core businesses and capabilities pass throughOpportunity ScreenSix trends with the highest scores against prioritized criteria are identified for focus and investmentGlobal MegatrendsScreen #1Screen #2Screen #3Innovation Opportunities Alpha Health Insurance selects six Innovation opportunities that represent a single trend or several trends with similar growth implications.Source: CEB analysisRelevance ScreeningAlpha Health Insurance shortlists 40 trends that are specific to its industry and could potentially impact its business in the near-term.As an example below, see how Alpha Health Insurance uses a three-step filtering process to select relevant and impactful trends. Use worksheets on subsequent pages to unearth impactful trends for your industry.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 30STEP#1: SHORTLIST TRENDS SPECIFIC TO YOUR INDUSTRYHow and when to use this tool: Use this worksheet to create a short list of all possible trends that could potentially influence your brand or product line. At this stage, list out as many trends in the first column of the table below. Next, take a best guess at filling out the potential business implications of each trend in the second column. HELPFUL TIPS AND GUIDELINES: Use the tips below, to outline as many industry-specific trends as possible:Scan news, business and industry-specific publications to get a sense of which political, economic, social or technological trends can influence your brand or product line in the next 1-3 years (5 years if you are building a long-term plan). While its easy to select trends that have traditionally been important to your brand or product, for break-through growth, identify trends that will most likely become important in future.

Trends Aggregation SheetS.No.Observed TrendImplication for Your Brand or Product Line1. Technologization of Insurance Sales: With the number of on-the-go sales executives increasing, organizations are increasingly providing tablet technology to sale s representatives to help them in managing their workflow and accounts.Deploy tablet technology and sales applications to our key account management sales representatives .InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Technological ProwessOur products must harness our technological capabilities and assetsDefine core brand or product value proposition and capabilities, and determine the trends that could have a high impact on these attributes and on your customers.

Define 3-5 (current) core brand or product attributes to predict the relevance of prevailing megatrends and predict future success.

If a trend is likely to have a material impact on the product or brand, target it for further investigation.

STEP#2: SELECT TRENDS THAT IMPACT YOUR COREAssessment of Trend Impact on Core Businesses and CapabilitiesIllustrativeConnection to the BrandOur products must help customers emotional connect with our brand moreCustomer BenefitOur products must increase the profitability of our customersScope of BenefitsOur products must cover all benefits that our customers valueCompetitive PositioningOur products must enable us to compete on innovation and costTrends that do not significantly impact core capabilities are not investigated further.HHHHHLTrendsTechnologization of Insurance SalesIncreased Customization of Healthcare productsIncreasing Awareness of Health and WellnessRegulatory ReformSource: CEB analysis

ResultThe four trends with high potential impact to Alpha Health Insurances core capabilities are targeted for further evaluation.As an example below, see how Alpha Health Insurance uses five core product attributes to shortlist four impactful trends for further investigation. These trends are listed below on bottom-right of the page. Use the worksheet on Slide 36 of this deck to note down core product attributes and impactful trends for your brand or product line.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 32Use standardized assessment criteria to quickly and easily compare and prioritize trends.

Rate trends on numerous dimensions, mostly oriented around business impact and growth potential for your brand or product.

Create a scorecard that generates quick, but grounded, assessments of a trends impact on your brand or product line.

Use the scorecard to arrive at a set of innovation opportunities, which represent areas that contain significant business opportunity and may or may not require significant investment or changes to product or pricing.

STEP#3: EVALUATE TRENDS FOR BUSINESS IMPACTTrend Ranking ScorecardIllustrativeEvaluation CriteriaPotential for New BusinessesPotential for DisruptionPotential for Market ShiftingRate of Technology AdoptionPortfolio ImpactRevenue PotentialAverage TrendsTechnologization of Insurance Sales32233355Increased Customization of Healthcare products111N/A1250 Increasing Awareness of Health and WellnessResultThe top six trends (or innovation opportunities) are identified for new business opportunities that are not only aligned to Alpha Health Insurances core capabilities, but are also the most attractive from a financial and competitive perspective.Scoring Key1 = Low2 = Medium3 = HighAs an example below, see Alpha Health Insurances Trend Ranking Scorecard. In the worksheet on the Trends Assessment Tool Template, work with your teams to rank key trends for your brand or product line using the most important criteria for your company. Regulatory ReformInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 33STEP#4: Identify the Implications of the Trends on Your Planning ProcessHow and when to use this tool: Use this tool to identify the action steps required to maximize the impact of trends in business planning. To use this tool:First, fill out column 1 with the important trends identified on Slide 37 of this deck.Next, in columns 2 and 3, fill out the strengths, weaknesses, opportunities and threats to your brand or product line in light of the identified important trend. Work backwards from the opportunities and threats to identify inherent strength or weaknesses of your company that will aid/deter you from capitalizing on the identified trends.Planning Insight SheetS.No.Important TrendPlanning Insights1.Technologization of Insurance Sales: With the number of on-the-go sales executives increasing, organizations are increasingly providing tablet technology to sale s representatives to help them in managing their workflow and accounts.OpportunitiesThreatsWe can create collaterals for iPads as our target customer demographic is mostly young-adults (between 18 and 35years) who are heavy users of tablet technologyCompetitors are ahead of us in adopting tablet technology for sales operations.StrengthsWeaknessesWe have available resources to provide all our sales representatives with iPads and applications .Our current CRM systems do not integrate with mobile/tablet technology.OpportunitiesThreatsStrengthsWeaknessesOpportunitiesThreatsStrengthsWeaknessesInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 34STEP#1: SHORTLIST TRENDS SPECIFIC TO YOUR INDUSTRYInstructions: Use this worksheet to create a short list of all possible trends that could potentially influence your brand or product line. At this stage, list out as many trends in the first column of the table below. Next, take a best guess at filling out the potential business implications of each trend in the second column. Refer to Slides 30 and 31 of this deck to fill in this template.Trends Aggregation SheetS.No.Observed TrendImplication for Your Brand or Product LineInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. STEP#2: SHORTLIST trends THAT IMPACT YOUR BRAND OR PRODUCT LINE Instructions: Use this tool to help prioritize the most impactful trends for your business (from the initial list completed in Step 1). To use this tool:First, identify and describe the core brand/product attributes in the blue boxes below. Restrict the core attributes to five or less, to focus planning on a select few priorities.Next, rank the trends identified earlier (Step 1) on the closeness to each core attribute identified.Finally, in the yellow box below, list out the trends that were the closest to most core attributes.Brand/Product Attribute #3

Brand/Product Attribute #1




HHHHHLList of Trends being RankedThe key trends with the maximum impact on our brand/product attributes are:1.2.3.4.5.6.[Trend #1][Trend #2][Trend #3][Trend #4]Color code each trend youre ranking in a different color.

Do not restrict to ranking just 4 trends. Take a Life-sized print of this page, and add more trends, as identified on slide 35.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 36STEP#3: EVALUATE TRENDS FOR THEIR ABILITY TO GENERATE BUSINESS IMPACTInstructions: Use this tool to identify the final list of trends with the maximum business impact for your brand or product line. To use this tool:First, list out the trends identified in the yellow box in Step 2 (slide 36).Next, use the evaluation criteria in the top row to evaluate each trend for business impact and growth potential. You may modify the evaluation criteria for relevance to your company.Finally, average the scores obtained by each trend, and rank them. List the top three trends in the yellow box below.Suggested Evaluation CriteriaPotential for New BusinessesPotential for DisruptionPotential for Market ShiftingRate of Technology AdoptionPortfolio ImpactRevenue PotentialAverageTrends[Trend #1][Trend #2][Trend #3][Trend #4][Trend #5]Scoring Key1 = Low2 = Medium3 = HighThe trends with maximum business impact for our company are:1.

2.

3.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 37STEP#4: Identify the Implications of the Trends on Your Planning ProcessInstructions: Use this tool to identify the action steps required to maximize the impact of trends in business planning. Refer to Slide 34 of this deck to fill in this template.Planning Insight SheetS.No.Important TrendPlanning InsightsOpportunitiesThreatsStrengthsWeaknessesOpportunitiesThreatsStrengthsWeaknessesOpportunitiesThreatsStrengthsWeaknessesInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 38CUSTOMER SHARE DEVELOPMENT TOOL(Excel Format)

39Customer share development ToolHow to use this Tool: The Customer Share Development Tool helps you analyze the customer purchase process and identify purchase stall points.


# 2014 The Corporate Executive Board Company. All Rights Reserved. 40MONITOR EMERGING CONSUMER TRENDS FOR YOUR INDUSTRY(B2C)

41MONITOR EMERGING CONSUMER TRENDS FOR YOUR INDUSTRY (B2C)How to use this Tool: Click on the screenshot below to redirect to our consumer outlooks topic center powered by CEB Iconoculture.

# 2014 The Corporate Executive Board Company. All Rights Reserved. 42CUSTOMER UNDERSTANDING TOOL43Marketers have several opportunities to gather and use customer data, varying by effort and time requirements.

Marketers capture customer voice early in the planning process, to limit planning focus to a select few initiatives their customers will likely reward

While some companies invest in formal VOC collection programs, there exist cheaper, and quicker next-best alternatives to capture customer voice

Use the framework on the right to decide your approach to capturing customer voice as an input to marketing planningYesNo, but we shouldDo you have sufficient time and resources to collect VOC?YesNoCollate customer/consumer insights from the VOC gatheredNo, we have a fairly good customer understandingAnalyze Customer Data for Planning Insights(Slide 50,51)Select quick-win Customer Data Collection Methods(Slide 45)Select Formal Customer DataCollection Methods(Sides 46)

FRAMEWORK FOR CAPTURING VOICE OF THE CUSTOMERHow and When to Use This Tool: Use the framework below to decide whether or not you need to commission a formal customer data collection program to inform annual planning. Answer the questions beginning from the top, and follow the arrows in the direction of your most logical answer. Along the way, use tools denoted by the tool icons, to select suitable customer data collection methods.Create a Customer Data Collection Plan(Slides 47,48)

Do you currently collect customer data?# 2014 The Corporate Executive Board Company. All Rights Reserved. 44QUICK-WIN customer data COLLECTION METHODSHow and when to use this tool: Before investing effort and resources to capture VOC, examine the list below. Work with key business partners to identify pre-existing, or readily available VOC data sources available to you. (Litmus test: The data gathered by any quick-win VOC capture method should help you answer questions on slide 48).MethodData SourcesData TypeTypical OwnerExamplesSurveysCustomer or market studies commissioned by business units, R&D, or market researchQuantitative / QualitativeMarketing ResearchR&DUsage and attitude studiesSyndicated StudiesSurvey reports, presentations and white papers authored by industry-accredited bodies, credible academics or vendorsQuantitative/QualitativeIndustry BodiesAcademic/Research InstitutionsNielsen consumer dataMarketing / buyer journalsExisting Customer, Product or Market DataCustomer or product usage information sourced from CRM and marketing automation systemsQuantitative / Qualitative

Sales RepsE-Commerce TeamDemand Gen / Content Marketing TeamMarketing OperationsProduct purchase and loyalty data from CRM or loyalty programsContent consumption data from marketing automation dashboardPublic InformationReports published bythe government, census bodies or industry associationsQuantitativeGovernmentCensus BodiesEconomic and Demographic surveysWeb Search and Social Media TrendsData from web and social media analytics; output from social listening effortsQuantitative/ QualitativeDigital Marketing/Web/Social Media TeamKeyword Clouds and Sentiments captured from Social Listening SoftwareWeb TestimonialsBuyer Web Expressions (e.g., retweets, videos, detailed Facebook or LinkedIn posts)Customer StoriesCustomer verbatims gathered from sales and/or customer service reps, and social media listeningQualitativeSales RepsCustomer Service TeamQuotesBuyer personasBusiness or Trade PublicationsCustomer interviews or surveys published in trade journalsQualitativeIndustry BodiesBusiness MediaMagazines such as B2B Marketing Magazine, AdWeek, SmartBrief, etc.Customer Polls or InterviewsEvents (e.g. Seminars, Trade Shows, Conferences, etc.)QualitativeSales RepsEvent Marketing TeamCustomer TestimonialsList out the VOC sources you know are available now or might become available to you in the near future. (Use this list to populate boxes 2 and 3 on slide 47)

1.

2.

3.# 2014 The Corporate Executive Board Company. All Rights Reserved. FORMAL Customer Data COLLECTION METHODSHow and when to use this tool: This page provides an overview of the various methods you can use to capture customer voice. As you read through the list below:Identify the VOC your organization may have already captured through these methods. Use the VOC collected to answer questions on the planning insight cheatsheet (slide 5) to identify improvement opportunities for your brand/product.In case there is a specific need to capture additional VOC, select the most appropriate collection from the list below. Refer to slides 52-62 in the appendix for additional details on each method listed below.Primary Stage of the ProcessMethodCost Data Collection TimeData TypeBest Used ForOpportunity/ Need IdentificationCustomer Advisory CouncilHighHalf DayQualitativeB2B customer feedback on industry trends. B2C variant is communities.Opportunity/ Need IdentificationCustomer InterviewsMediumOne DayQualitativeExploring customers problems and stated needs

Opportunity/ Need IdentificationEthnographyVery HighWeeksQualitativeSurfacing unknown/ unarticulated needsOpportunity/ Need IdentificationLead UsersMediumOne DayQualitativeDeveloping solutions to needs not yet experienced by the mass market

Opportunity/ Need IdentificationSurveysLowWeeksQualitative and QuantitativeQualifying market/ surfacing known needsTesting and ValidationFocus GroupMediumOne DayQualitativeHoning/ adjusting ideas to fit marketOpportunity/ Need Identification; Testing and ValidationOnline Communities (either Owned or Third Party)Medium to LowOngoingQualitativeGetting quick, directional feedback from buyers# 2014 The Corporate Executive Board Company. All Rights Reserved. Customer Data COLLECTION PLANNING SHEET (1/2)How and when to use this tool: After you have evaluated the various customer data sources available to you, create a systematic plan for capturing customer voice.First, create a Project Outline. Define the key planning question(s) you need to address through customer data, as well as list out monetary and time constraints in capturing customer data to answer that question. (Important: The key question should be narrowly defined, such that its answer has significant impact on your brand/product line)Next, identify and list out existing customer data sources that can answer the key business question identified in your project description. Identify the owner of each source, and set a timeline for when youll analyze customer information.Finally, if existing sources fail to address the key customer question, identify additional data sources that can. Keep in mind budget and monetary constraints in commissioning additional customer data collection efforts. As above, Identify the owner of each source, and set a timeline for when youll analyze customer information. (Important: Commission additional customer data collection initiatives only if they can precisely answer the key question for your brand/product line).

Project OutlineKey Business Question: Available Budget ($)Available Time (Hours/Days/Weeks)Existing Customer Data SourcesSourceOwnerAnalysis Start DateAnalysis End DateAdditional Customer Data SourcesSourceOwnerAnalysis Start DateAnalysis End Date213123Refer to the key questions listed on slide 48 to help you frame the key question for your customer data collection project.# 2014 The Corporate Executive Board Company. All Rights Reserved. Customer data can help marketers unearth opportunities expand business, retain customers and improve marketing effectiveness.Customer DATA COLLECTION PLANNING SHEET (2/2)Source: CEB Marketing Leadership Council research.Key Questions

What current customer needs are not served/underserved by your product/brand?

What customer unstated needs could you profitably develop a business around?

What existing market segments is your product/brand underserving?

Are there any adjacent market segments you could profitably serve?Key Questions

What customer segments are most dissatisfied with your product/brand?

What is the primary reason for customer dissatisfaction? Is it product or service related?

What are the key touchpoints where you could (or should) approach dissatisfied customers?Key Questions

Do customers understand and relate to your brand or marketing message?

At what point (if any) in the purchase process do customers disconnect from your marketing efforts?Business DevelopmentCustomer RetentionMarketing EffectivenessHow to Use This Tool: Use the key questions listed below as a reference to frame the key business issue for your customer data collection effort. Refer to potential planning leads in the lower half of the page to know the type of planning insight each question set can result in.Potential Planning Leads

Ideas for customer experience improvement initiatives.

Ideas for customer experience differentiation initiatives.Potential Planning Leads

Opportunities for new product development.

Opportunities for market expansion or diversification.Potential Planning Leads

Opportunities for improving Marcomm mix and content.

Opportunities to restructure lead generation process.# 2014 The Corporate Executive Board Company. All Rights Reserved. 48MANAGING DATA FROM MULTIPLE SOURCESUse people (not systems) to make sense of disparate data and prioritize key opportunities.

Like Cox, set up a Brain Trust to improve enterprise-wide customer insight quality via regular coordination and collaboration among different customer data owners.

Cox approach relies on people advantages over technology:

Scalability Collaboration between different data-set reduces the individual burden on marketers to gather customer voice.

Savvy Interpretation Brain Trust members know the advantages and limitations of their dataset.

Information Adaptability Regular coordination enables all teams to identify new and more valuable information of which they were previously unaware.

Timely Delivery Coordination doesnt have to wait for the next data warehouse project to be completed.

Field Sales and Retail AnalyticsCustomer Experience AnalyticsThe Analytics Brain TrustRole: Coordinate efforts between analytics groups to avoid duplication of effortsIdentify areas of synergy and collaborationDrive awareness of analytics techniques and data idiosyncrasiesLearn from and internalize each others work to improve overall analytics masteryCentralize decisions about enterprise data and analytical tool needsMarketing AnalyticsSource: Cox Communications; CEB analysis.Business Operations and Finance AnalyticsMarketing Analytics also works closely with the Consumer Insights group which supports the whole company. This coordination helps to provide pan-enterprise visibility into organizational priorities.

2014 The Corporate Executive Board Company. All Rights Reserved. #Conduct a SWOT analysis on raw customer voice and customer data to isolate planning insights and required marketing initiatives.

First, note down interesting qualitative and quantitative pieces of customer information captured

Next, conduct a SWOT analysis on the customer voice notes to identify areas of strength, weakness, opportunity and threat for your brand or product line

As an example, on the right, see how Gentle Detergents conducts a SWOT analysis on the VOC notes it gathered for its brand.

Use the worksheet on the next page to analyze customer voice captured by your company.

MAKING SENSE OF Customer dataAlphas core brand attribute (i.e. reliability and client service) are well understood.

Existing Alpha customers are likely to recommend our products to their peers.Our health insurance products do not cover dental benefits, which most of our competitors provide.

Customer Data Collection Notes

Oh! So Alpha s health insurance products are not the same as Omegas? I always thought they were the same.

For Health Insurances, I trust Gamma Company; not sure if I want to buy from your company.

Most financial advisors in my peer circle recommend Gamma Insurance Company for its low premiums.

Your Health Insurance doesnt cover dental, but I wear braces. Not sure if it will be useful for me.

My Brother bought your health insurance and post his surgery was very happy with the services. He recommends we buy from you..

SYNDICATED DATA POINTS:Brand preference for Alpha declined 8% YoY, Gamma sales up 12% YoY.Percentage of young working professionals in the area increased by 15% in the last three years.StrengthsWeaknessesYoung working professionals and first time insurance buyers are increasing in percentage this is a new set of customer Alpha can target to build brand positioning

OpportunitiesInsurance Products differentiators are not communicated clearly to customers who confuse us with Omega Insurance Company.

Brand preference for Gamma rose at the expense of Alpha, primarily due to low insurance premiums.ThreatsSWOT Analysis1211Pseudonymed companyThree Steps to Analyze Customer Data for InsightsIllustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. 50Customer Insight Analysis SHEETHow and when to use this tool: This tool helps you analyze customer data, once you have collected it. To use this tool:First, note down interesting qualitative and quantitative pieces of customer information youve captured in the box numbered 1.Next, conduct a SWOT analysis on the customer data notes to identify areas of strength, weakness, opportunity and threat for your brand or product line. Note these in box numbered 2, below.

[Strengths of your brand or product line go here][Weaknesses of your brand or product line go here]Customer Data Collection Notes

[Your notes go here].StrengthsWeaknesses[Opportunities for your brand or product line go here]Opportunities[Threats to your brand or product line go here]ThreatsSWOT Analysis12# 2014 The Corporate Executive Board Company. All Rights Reserved. 51

APPENDIX(Customer Understanding Tool)Description of Formal VOC Collection MethodologiesWhat It Is:Group of strategic business customers that meet regularly to give industry and strategy feedbackWhen To Use It:Any time, as long as customer relationships are sufficiently strong for open discussionAdvantages:Opportunity to understand industry trends, business priorities, and strategic directionDisadvantages:Potential to alienate council participants if ideas are not implementedAdditional Resources:

Customer Advisory BoardBest Used For: B2B customer feedback on industry or strategy trends. B2C variant is communities. How To Use It:CompositionTen to 30 senior executives normally representing the 20% of your customers that generate more than 80% of your revenue. ParticipationMembers participate on a voluntary basis for the opportunity to influence company direction, in a way which is beneficial to their own needs, as well as receive exclusive information from suppliers.Selection of CustomersProper selection of attendees requires identifying not only the most strategic customer company, but also the proper individual who can best represent their companys needs, priorities, and directions. Key individuals who have a strong relationship with the sponsoring company and have valuable ideas to contribute are ideal candidates. Membership may also benefit from a few outspoken customers who have voiced strong complaints in the past about existing business practice.Frequency and Format:Councils typically meet one to two times per year. Meetings are usually held face-to-face for half a day or more. Meetings can also be held via teleconference or through interactive means though the level of two-way dialogue may suffer. Meeting agendas usually leave ample time for facilitated discussion using a variety of brainstorming and workshop techniques.ExpectationsSponsors are committed to follow through on key recommendations made by the council or at minimum provide a rational explanation for those recommendations which are ultimately not implemented. Participants also typically benefit from the prestige of participation, ability to network with each other as well as company officers, and opportunity to share best practices and new ideas.OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: CUSTOMER ADVISORY COUNCIL# 2014 The Corporate Executive Board Company. All Rights Reserved. 53What It Is:A process in which the needs and wants of customers are explored in detailWhen To Use It:Any time, as long as customer relationships are sufficiently strong for open discussionAdvantages:Opportunity to probe customer needs, goals, and success metrics; visual aids can be used

Disadvantages:No benefit of group discussion as interviews are typically one-on- one.CUSTOMER INTERVIEWSBest Used For: Exploring customers problems, and stated needs.Types of Topics in QuestionsBehaviorsabout what a person has done or is doing Opinions/valuesabout what a person thinks about a topic Feelingsnote that respondents sometimes respond with I think ... so be careful to note that youre looking for feelings Knowledgeto get facts about a topic Sensoryabout what people have seen, touched, heard, tasted or smelled Background/Demographicsstandard background questions, such as age, education, etc. Note that the above questions can be asked in terms of past, present or future.Sequence of QuestionsGet the respondents involved in the interview as soon as possible. Before asking about controversial matters (such as feelings and conclusions), first ask about some facts. With this approach, respondents can more easily engage in the interview before warming up to more personal matters. Intersperse fact-based questions throughout the interview to avoid long lists of fact-based questions, which tends to leave respondents disengaged. Ask questions about the present before questions about the past or future. Its usually easier for them to talk about the present and then work into the past or future. The last questions might be to allow respondents to provide any other information they prefer to add and their impressions of the interview.Source: http://www.managementhelp.org/evaluatn/intrview.htm./OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 54Probing TechniquesIf respondents provide incomplete or irrelevant answers, probing techniques can be used to gather more detailed responses.What Is Probing?A neutral remark that prompts the respondent to clarify or elaborate on a previous statementProbing should never lead the respondent into an answer.When Do You Probe?You want more detailed information or specific examples, behaviors, or descriptions.You dont completely understand a comment/statement.You are not sure of terminology being used.You are trying to uncover deeper feelings or motivations.Certain words usually indicate the need to probe:Quality/good/convenient/service/reputationHow to Probe?Ask when, what, where, which, and how questions.Work to get clarification without leading.Paraphrasing and Restatementwithout adding or drawing implications, So what youre saying is.ClarificationWhat do you mean by? Help me understandRequest for an example.Reflectionrepeat their feelings without agreeing or disagreeing.Repeat the last part of a respondents statement.ReweavingYou mentioned ___ a while ago. Can we talk a little more about that?Adopt sophisticated naivete postureconvey limited understanding of the issue and ask for specific details.Indicate understanding or interest, or problem of understanding.Create silences or pauses.A nod or expectant look may imply to the respondent that you are looking for a more detailed answer.Use encouragers., such as : Tell me more about, In what way?, What would be an example of that?, Anything else?, Why do you feel this way?, etc.

CUSTOMER INTERVIEWS (CONTINUED)Best Used For: Exploring customers problems, and stated needs.OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 55What It Is:Observations of consumers in their natural environment (without interference from observers) to better understand unspoken motivations and needsWhen To Use It:Studying process intensive activities, such as home cleaning, personal care, purchase decisions, and food preparationAdvantages:Offers in-depth insights into customers behavior in natural environment and helps uncover unarticulated needsDisadvantages:Expensive and time consuming; requires some training to conduct at the beginning; lacks breadth, as just a small group typically can be studied at one timeETHNOGRAPHYBest Used For: Surfacing unknown/ unarticulated customer needs.

Potential Focus Areas of Ethnographic Research:How consumer practices might offer ideas for new products or servicesHow product handling suggests packaging and storage innovationsThe impact of consumer lifestyles and age-related behavior on product usage and needsEmerging trends in consumer attitudes and behavior

How To Use It:Create a focused research proposalAllow time for thorough observationSelect field techniques: audio/videotapes, photographs, team observationsConduct fieldwork: at homes, stores, work, recreational sites, or a combination of locationsAnalyze findingsOPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 56ETHNOGRAPHY (CONTINUED)OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: Surfacing unknown/ unarticulated customer needs.Types of Ethnography:Ethnography Documentation Tools:Source: Mariampolski, Hy, Ethnography for Marketers: A Guide to Consumer Immersion, 2005Varieties of EthnographyPrivatePublicDelimited/ Task DrivenObserved Product Usage Structured Product UsageAccompanied Purchase Structured Product UsageOpen-Ended/ ExistentialDay in the lifeObserved Purchase Mystery ShoppingDocumentation ToolAdvantageJournals/field notebooksEnable researchers to create detailed records of participant activities and product usage.PhotographsProvide visual evidence of consumer activities, product storage, and participant environment.VideosProvide continuous audio and video footage of participant activities that can be analyzed.Best Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 57ETHNOGRAPHY (CONTINUED)OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: Surfacing unknown/ unarticulated customer needs.Total Project Timing:Project Staffing:PhaseTimingPlanning 2-3 weeksTraining 1-2 weeksRecruitment2-3 weeksFieldwork2-6 weeksAnalysis and Reporting3-4 weeksTotal10-18 weeksTeam MemberRoleIdeal NumberProject DirectorDelivering all components of the project according to client needs1Project ManagerOrganizing people, equipment, tasks1Recruitment CoordinatorRecruiting, orienting, and scheduling study subjects1EthnographerNote taking at the site4-6VideographersVideotaping at the site1-2Case AnalystsOrganizing information collected at the site1-2Source: Mariampolski, Hy, Ethnography for Marketers: A Guide to Consumer Immersion, 2005Best Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 58What It Is:Study of customers who face market-wide problems months or years before the general public.When To Use It:Open industries where lead users feel comfortable disclosing information and knowledge. Longer innovation cyclesAdvantage:Lead users help understand needs that the mass market has not yet identified, but will experience soonDisadvantage:Identifying lead users and structuring sessions to avoid biasing lead user inputsLEAD USER ANALYSISBest Used For: Developing solutions to needs not yet experienced by the mass market.OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONHow to Use ItStep 1: Project PlanningThrough brainstorming sessions, select a need-related trend in the market to focus on.Develop strategies for data collection from target and analogous markets on need-related trends.Collect all the data available on the subject through focused competitive intelligence.Step 2: Finding Lead UsersConduct interviews with industry leaders to identify lead users in the target and analogous markets, who have created solutions to deal with the need-related trends, each in his/her field of expertise.Work your way up pyramids of experts to locate lead users by getting referrals from experts in the field and identifying who has created solutions to address the needs they have.Get the widest exposure possible to the need-related trend in target and analogous markets by going to the fieldwork of lead users.

Step 3: Concept Generation and DevelopmentGenerate preliminary new product concepts that are along the lines of the solutions developed by the lead users to address their needs.Conduct workshops in collaboration with lead users to examine the preliminary new product concepts and explore new ones.Choose the product concept(s) that has the widest applications to customers in the target and analogous marketsCreate a road map for development and launch of new products based on the identified platform.Align identified new product concepts with the business objectives and development/growth plan.ConclusionLead user analysis may be expensive and costly due to the difficulty of identifying and engaging the appropriate lead user.Source: http://www.wdc-econdev.com/process7.html.

Best Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 59What It Is:Traditional methods of collecting customer data on products and services.When To Use It:Early in the research process; You lack any knowledge about what customers think in a particular areaSURVEYSBest Used For: Developing solutions to needs not yet experienced by the mass market.OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONType of SurveyAdvantagesDisadvantagesRecommendationPhoneReach 96% of all homes CATI software streamlines process Interviewers can ask for clarification on responses; additional detailSales calls often pose as research calls Typical calling window interrupts respondents personal time Call screening is common No visual supportGeneral population surveys Mail Frequently used for social researchLow cost (almost 75% less than personal interviews) Eliminates potential interviewer bias May result in biased sample Low response rate Time! Need to wait at least several weeks for all responses to arriveUse when target population is highly literate or is in a group with specialized interests WebVery low cost Extremely fast Complex questioning assures better data Anonymity of respondents results in more honest answers to sensitive topics Respondents provide more detail to open-ended questions. Survey software simplifies compilation and analysis of data collected. Do not reflect population as a wholeRespondent completion rates lower for longer surveys Random respondents may reply if your survey appears on Web page.When desired target population consists mainly of Internet users. Best Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 60What It IsA process in which sample customers discuss their needs, objectives, and opinionsin an interactive environment.When to Use ItEarly in the research process; clarify results of surveys;deepen understanding of customer opinions; identify solutions to problems.AdvantagesIdeas of one person may gain detail as others discuss; answers longer and more revealing than interview.DisadvantagesArtificial environment may bias responses; skilled moderator required; structuring random sample of customers difficult and costly; Individual opinions may conform to a group opinion; Cannot be generalized to larger population.FOCUS GROUPSBest Used For: Honing/adjusting ideas to fit the market.Note: There is a trend away from using focus groups due to disadvantages at left.Types OverviewIn-Person Focus Group FormatsTraditional GroupsGroup conversations conducted by a moderator with 7 to 12 participants,usually in a focus group facilityMini-GroupsGroup conversations similar in structure to traditional groups but with four to six participantsImmersion (or Interactive) GroupsGroup conversations similar in structure to traditional groups but with internal staffin the room participatingIn-Depth Interviews (IDI)One-on-One conversations between a respondent and a moderator to gain more depth from one individualOnline Focus Group FormatsSynchronous ChatGroup held in an online chatroom setting where respondents reply to moderator questions in real time.Discussion BoardGroups held online in a bulletin-board format in which participants log on, read messages from the moderator and other respondents, and post replies at their own convenience over the course of several daysWeb-Enabled Telephone Interview (WETI)One-on-One conversations between a respondent and a moderator via telephone with both participants simultaneously viewing an internal presentation typically so that the respondent can react to visual stimuliOPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONBest Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 61FOCUS GROUPS (CONTINUED)Best Used For: Honing/adjusting ideas to fit the market.

OPPORTUNITY NEED IDIDEATIONIDEA SELECTIONTESTING AND VALIDATIONType Strength Weakness Traditional Group Exposure to participant dispositionLimited geographic reach Not suitable for sensitive issues Mini Group Depth of responseExposure to participant dispositionEase of group control Limited geographic reachHigh cost Time intensive Limited breadth Immersion Group Exposure to participant disposition Limited geographic reachNot suitable for sensitive issues In-Depth InterviewsDepth of responseExposure to participant dispositionEase of group control Limited geographic reachHigh costTime intensiveLimited breadth Synchronous Chat TimelinessEase of geographic reachBreadth of response Lack of exposure to participant dispositionDifficult to control Limited depth of response Discussion Board Low cost Ease of geographic reachBreadth of response Lack of exposure to participant dispositionDifficult to controlWeb-Enabled Telephone InterviewEase of geographic reach Time intensiveLimited breadth Best Used For: # 2014 The Corporate Executive Board Company. All Rights Reserved. 62BRAND HEALTH SCORECARD(Excel Format)

63BRAND HEALTH SCORECARDHow to use this Tool: The Brand Health Scorecard helps you do an external analysis of brand health as an input to the planning process.


# 2014 The Corporate Executive Board Company. All Rights Reserved. 64COMPETITIVE DIFFERENTIATION TOOL

65Your Competitive PositionYour Unique BenefitsWhere can you win in the market?THE CRITICAL ELEMENTS OF COMPETITIVE

DIFFERENTIATIONInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 1: Identify your Unique StrengthsHow to use this tool: To identify where you can win in the market, first brainstorm your firms strengths and determine how unique they are. Unique Strengths Identification TableWhat Are Your Key Strengths?Can Any Competitor Do This As Well As You Do?How Easy Would It Be to Copy This Strength?Our Key Client Management teams have both sales representatives and health advisors that help us issue-sense proactively and present integrated solutions, instead of piece-meal remedies.Currently, none of our industry competitors have a similar account management approach.Copying our approach would require hiring new staff and up-skilling current staff, this would take any competitor at least 2-3 years to fully set it in place.Our online purchase channels make it easy for customers to make payments and file for claims. Currently, all our competitors have a higher online processing time than we doCopying our processes would require upgrading their current online transaction processes, which would require a year to set in place.HELPFUL TIPS AND GUIDELINES: Watch out for these red herrings:Proximity Bias: Tendency to overemphasize minor internal distinctions that are imperceptible to outsiders.New is Better: Tendency to automatically discount historical, but potentially superior, differentiators in favor of new trends or fads.Pie in the Sky: Overly-generic attributes like innovative or customer- centric.Dont limit your strengths to things your product does consider any organizational capability your customers may find valuable. These could possibly include skills, technologies or processes, assets or cultural values unique to your brand or product line.Dont limit competitors to rival firmsremember, do nothing and do it yourselves are also options, as are substitutes that might not be obvious.

THINKING POINTS: Think about the following questions while filling out this slide.

Have you heard anecdotes of customers using you in unique ways? What do your most loyal customers tell you?Historically, what have you viewed as your key strengths?What are the main reasons for deal wins and losses?When you look at competitors value propositions or public statements, are they aspiring to the same strengths you are?Illustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 2: Benchmark Your Unique StrengthsHow to use this tool: After identifying your unique strengths, answer the following questions to benchmark yourself against competition.HELPFUL TIPS AND GUIDELINES: Consider both your strengths from slide 67, and other capabilities that are not your strengths but that may drive value for customers.

Use the two-sided arrows at right to plot your position versus competitors as shown below.

THINKING POINTS: Think about the following questions while filling out this slide.

Which value drivers are increasing in importance? Which are decreasing?Which did you not originally anticipate?If youre in front of competitors, what capability is putting you there?Can you defend your position?Upgrade the online purchase channels to make the payment process easy for the customers.1. What are the possible things suppliers in your market can do to create value for customers?1. We stand 2nd as compared to our competitors in terms of online purchase channels.

2.

3.

4.2. For the four most important of the above value drivers, plot where you stand versus top 3 competitors: Comp. CComp. AUsComp. BComp. CComp. AUsComp. BIllustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 3: Synthesize Your Unique PositionHow to use this tool: Synthesize the output from the previous brainstorming on slides 67 and 68 to identify 2-4 key points of differentiation for your organization.

HELPFUL TIPS AND GUIDELINES: Narrow to the strengths that truly set you apart from your competitors.These should be strengths where you are ahead of competitors and can defend that position.At this point, do not consider customer needs beyond the extent necessary to brainstorm what might be valuablethe point is to uncover potentially underappreciated capabilities.

1. Low-effort online payment and claim filing processes

2.

3.

4.

5.1. Key differentiation points.1 Pseudonym.1Pseudonym. Alpha Health Insurance1 Key Differentiation Points:

Integrated Client Management team

Low-effort online payment and claim filing processes

Large Healthcare Provider NetworkIllustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Important Value Drivers Where Competitors Outperform YouImpact of the Value Driver on Your BusinessDo Customers Typically Perceive This Value? Why? Low Health Insurance PremiumsWe are losing out on market share to competitors Yes, our target customers are price-sensitive and prefer insurance products with lower premiums Key Strengths Where You Outperform CompetitorsImpact of the Strength on Your BusinessDo Customers Typically Perceive This Value? Why? Key Client Management TeamsImproves our ability to issue-sense proactively and present integrated solutions that lock-in customers for longer term solutions.Yes, customers value our ability to provide long-term solutions and cite it as a driver for high trust in our brandStep 4: Match your unique strengths to customer valueHow to Use This Tool: Based on the competitive positioning statement from slide 69, brainstorm the potential value your unique strengths can provide to customers:THINKING POINTS: Think about the following questions while filling out this slide.

What trends can you spot from a birds eye view of your customer base that a single customer cannot?Why do your most loyal customers keep coming back?Where can your strengths plug into your customers value chains?How to Use This Tool: From the arrow exercise on slide 68, identify common benefits where winning requires at least average performance.HELPFUL TIPS AND GUIDELINES: Use the grid to brainstorm how your unique strengths can solve customer problems.Again, the focus is not yet explicitly on customer needs; think about value from a supplier-out perspective.Focus on benefits that few customers self-report or ask forthese are opportunities to build loyalty by teaching customers new ways to think about their businesses.Use you-phrasingin the second column, think in terms of customers get rather than you do.

Illustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 1. Low-effort online payment and claim filing processes.

2.3.4.5.1. We stand 2nd as compared to our competitors in terms of online purchase channels.2.3.4.5.

Your Competitive PositionYour Unique BenefitsWhere can you win in the market?Your Competitive PositionYour Unique BenefitsCOMPETITIVE DIFFERENTIATION ASSESSMENT (1/2)How and when to use this tool: Based on the analysis from pages 66-70, note down your companys competitive position and unique benefits below that will be most critical to executing your plan.Illustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved.

COMPETITIVE DIFFERENTIATION ASSESSMENT (2/2)How and when to use this tool: Note down the strengths, weaknesses, opportunities, and threats to your current brand or product differentiation. Base your analysis on the competitive position and unique benefits noted on page 71. An illustrative example for Alpha insurance is filled out below, for your reference.Use key client management teams to continue to build on trust and ask for recommendations amongst their peers

2.Highlight low-effort online payment and claim filling processes as a key differentiator in marketing messaging3.4.High Insurance Premiums

2. Our extent of benefits coverage is lower than our competitors3.4.

Key Client Management Teams


Large Healthcare Provider Network4.Competitors charge lower premiums than us with comparable benefits

2. We risk losing share to competitors due to a lower extent of benefits coverage

3.

4.OpportunitiesStrengthsThreatsWeaknessesIllustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 1: Identify your Unique StrengthsInstructions: To identify where you can win in the market, first brainstorm your firms strengths and determine how unique they are. Refer to Slide 67 of this deck to fill this template.

Unique Strengths Identification TableWhat Are Your Key Strengths?Can Any Competitor Do This As Well As You Do?How Easy Would It Be to Copy This Strength?THINKING POINTS: Think about the following questions while filling out this slide.

Have you heard anecdotes of customers using you in unique ways? What do your most loyal customers tell you?Historically, what have you viewed as your key strengths?What are the main reasons for deal wins and losses?When you look at competitors value propositions or public statements, are they aspiring to the same strengths you are?InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 2: Benchmark Your Unique StrengthsInstructions: After identifying your unique strengths, answer the following questions to benchmark yourself against competition. Refer to Slide 68 of this deck to fill this template.1. What are the possible things suppliers in your market can do to create value for customers?1.

2.

3

4.2. For the four most important of the above value drivers, plot where you stand versus top 3 competitors: THINKING POINTS: Think about the following questions while filling out this slide.

Which value drivers are increasing in importance? Which are decreasing?Which did you not originally anticipate?If youre in front of competitors, what capability is putting you there?Can you defend your position?InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step 3: Synthesize Your Unique PositionInstructions: Synthesize the output from the previous brainstorming on Slides 73 and 74 of this deck to identify 2-4 key points of differentiation for your organization. Refer to Slide 69 of this deck to fill this template.

1.

2.

3.

4.

5.1. Key differentiation points.1 Pseudonym.Key Differentiation Points:

Integrated Client Management team


Large Healthcare Provider Network Alpha Health Insurance1 InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Important Value Drivers Where Competitors Outperform YouImpact of the Value Driver on Your BusinessDo Customers Typically Perceive This Value? Why?Key Strengths Where You Outperform CompetitorsImpact of the Strength on Your BusinessDo Customers Typically Perceive This Value? Why?Step 4: Match your unique strengths to customer valueInstructions: Based on the competitive positioning statement from slide 75, brainstorm the potential value your unique strengths can provide to customers: Refer to Slide 70 of this deck to fill this template.Instructions: From the arrow exercise on slide 74, identify common benefits where winning requires at least average performance. Refer to Slide 70 of this deck to fill this template.THINKING POINTS: Think about the following questions while filling out this slide.

What trends can you spot from a birds eye view of your customer base that a single customer cannot?Why do your most loyal customers keep coming back?Where can your strengths plug into your customers value chains?InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 1.2.3.4.5.1.2.3.4.5.

Your Competitive PositionYour Unique BenefitsWhere can you win in the market?Your Competitive PositionYour Unique BenefitsCOMPETITIVE DIFFERENTIATION ASSESSMENT (1/2)Instructions: Based on the analysis from pages 73-76, note down your companys competitive position and unique benefits below that will be most critical to executing your plan. Refer to Slide 71 of this deck to fill this template.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved.

COMPETITIVE DIFFERENTIATION ASSESSMENT (2/2)How and when to use this tool: Note down the strengths, weaknesses, opportunities, and threats to your current brand or product differentiation. Refer to Slide 72 of this deck to fill this template1.2.3.4.

1.

2.

3.

4.OpportunitiesStrengthsThreatsWeaknesses1.2.3.4.

1.2.3.4.

InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 1 2014 CEB. All rights reserved.MLC0514714SYNFRAMEWORK FOR ANNUAL MARKETING PLANNINGManage Planning LogisticsConduct Planning AnalysesPrioritize and Budget for Key InitiativesCommunicate Marketing Plan1List the business objectives your plan will help fulfill.810Summarize key plan objectives, strategies, initiatives, and success measures.2Identify stakeholders involved in plan creation.11Set individual goals based on the marketing plans objectives.3Create a workflow and timeline, and allocate planning responsibilities.12Create a dashboard to track the performance of the planned marketing initiatives.4Identify and select metrics to measure plan success.8Identify marketing initiatives with the maximum growth potential.Marketing Initiative Selection Tool(p.80-90 )8Short-list marketing initiatives with the maximum business and financial impact.Marketing Initiative Prioritization Tool(p.91-94 )

Identify the resources needed to execute planned marketing initiatives.Marketing Resource Allocation Tool(p.95-96 )

Benchmark your marketing budget breakdown against that of your peers, as neededAccess Investment and Spend Benchmark Tool (p.97-98)11Create a marketing budget for executing the planned marketing initiatives.Marketing Budget Calculator Tool (p.99-100)5Analyze past years marketing plan performance.6Select a limited number of key analyses that will provide the most critical inputs for your current year marketing plan.7Conduct the selected planning analyses needed to populate your marketing plan.7913141315MARKETING INITIATIVE SELECTION TOOL

80Step-wise Instructions:

First, collate all the SWOT analysis findings pages from the tools you used for external analysis.

(Refer to the appendix for list of SWOT analysis pages in the external analysis tools)

Next, use the External Analysis Finding Template on the next page to fill out the combined SWOT findings for your Brand or Product Line.

Use the descriptors in the blue-outlined boxes on the right to classify SWOT findings as Strengths, Weaknesses, Opportunities, and Threats for your brand or product line.

STEP 1: CONSOLIDATE EXTERNAL ANALYSES FINDINGS StrengthsWeaknessesOpportunitiesThreatsSWOTSWOTSWOTThese are characteristics of your brand or product line that give it an advantage over othersThese are characteristics that place your brand or product line at a disadvantage relative to othersThese are environmental elements or elements of your brand or product line that you could exploit to its advantageThese are environmental elements that could cause trouble for your brand or product line12PRACTITIONER TIPSWhile combining SWOT analysis findings, ensure each box has only 3-5 line items, so that you can focus your planning on a select few impactful aims. You can limit the number of items in each box by:Ensuring you input only items that are likely to impact a majority of your revenues (i.e. more than 50% of your revenues)Clubbing related items together to a single one12InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 81EXTERNAL ANALYSIS FINDINGS TEMPLATE1. Increase range of insurance benefits to be at par with industry standards

2. Improve brand uniqueness by focusing on trust and reliability

3. Use our customers willingness to recommend to increase word of mouth in the market1. Our cost structure makes us the most expensive insurance to buy

2. Our extent of benefits coverage is lower than our competitors

3. Despite superior customer service versus competitors, we have low brand uniqueness and our offerings are mistaken for Omegas offerings.

4. Despite having high brand awareness (90%), our purchase intent is very low (60%)1. Our core brand attribute (i.e. reliability and client service) are well understood

2. Our online payment and claim filing processes are simple and low-effort

3. Existing customers are highly likely to recommend us to their peers.

4. Our brand awareness is higher than competitors as we are investing in the right communication channels1. We risk losing market share to competitors that charge lower premiums

2. It is easy for competitors to mimic our online payment and claim filing processes

3. We risk losing customers to competitors than provide a larger extent of coverage than we doOpportunitiesStrengthsThreatsWeaknesses[Insert Brand or Product Line Name]Illustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 82Step-wise Instructions:

Refer to the External Analysis Findings Template on slide 82 to gather the most important Strengths, Weakness, Opportunities, and Threats for your brand or product line.

Identify marketing initiatives necessary to minimize the weakness and threats, and maximize strengths and opportunities for your brand or product line.

Revisit page 20 of the this deck to collect the marketing initiatives identified for the current year

Create a combined list of marketing initiatives you identified as a result of internal and external analyses and note them down on the marketing initiatives shortlist.

Use the roadmap on the right to help you combine findings from External and Internal Analyses, and chalk-out an initial list of marketing initiatives for the current year. STEP 2: COLLATE EXTERNAL AND INTERNAL ANALYSIS FINDINGS TO SHORTLIST MARKETING INITIATIVES 12SWOTSWOT

341234InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 83Marketing Initiatives ShortlistMarketing Initiative Shortlist for the Current Financial YearS.No.StrategiesMarketing InitiativeReason for Selection 1.Improve brand uniqueness to reduce the risk of losing market share to competitors with similar offerings.Create an integrated marketing campaign highlighting two differentiating themes - trust and reliabilityHighlighting our key differentiators will help us differentiate our value proposition for new customers who confuse us with our competitors 2.Use peer influence to reinforce themes of trustworthiness and superior customer service to increase purchase intent during brand selection stage.Launch brand ambassador campaigns to leverage existing customers as advocates to activate word of mouth around the two key brand attributes -trust and reliabilityUsing existing customer advocates as brand ambassadors will enable us to increase purchase intent across their peer networks. 3. 4. How and when to use this tool: List down, and describe in fair detail, the marketing initiatives identified through external and internal analyses. In the adjacent column, briefly describe why these initiatives were selected. (Pl. note: This is not the final list of marketing initiatives you will implement this year. Arrive at the final list of initiatives for the current plan year at the end of the Marketing Initiative Prioritization Tool.). Illustrative Example, Alpha Health InsuranceInstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. Step-wise Instructions:

First, collate all the SWOT analysis findings pages from the tools you used for external analysis.

(Refer to the appendix for list of SWOT analysis pages in the external analysis tools)

Next, use the External Analysis Finding Template on the next page to fill out the combined SWOT findings for your Brand or Product Line.

Use the descriptors in the blue-outlined boxes on the right to classify SWOT findings as Strengths, Weaknesses, Opportunities, and Threats for your brand or product line.

STEP 1: CONSOLIDATE EXTERNAL ANALYSES FINDINGS StrengthsWeaknessesOpportunitiesThreatsSWOTSWOTSWOTThese are characteristics of your brand or product line that give it an advantage over othersThese are characteristics that place your brand or product line at a disadvantage relative to othersThese are environmental elements or elements of your brand or product line that you could exploit to its advantageThese are environmental elements that could cause trouble for your brand or product line12PRACTITIONER TIPSWhile combining SWOT analysis findings, ensure each box has only 3-5 line items, so that you can focus your planning on a select few impactful aims. You can limit the number of items in each box by:Ensuring you input only items that are likely to impact a majority of your revenues (i.e. more than 50% of your revenues)Clubbing related items together to a single one12InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 85EXTERNAL ANALYSIS FINDINGS TEMPLATE1.

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4. OpportunitiesStrengthsThreatsWeaknesses[Insert Brand or Product Line Name]1.

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4. 1.

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4. InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 86Step-wise Instructions:

Refer to the External Analysis Findings Template on slide 2 to gather the most important Strengths, Weakness, Opportunities, and Threats for your brand or product line.

Identify marketing initiatives necessary to minimize the weakness and threats, and maximize strengths and opportunities for your brand or product line.

Revisit slide 20 of this deck to collect the marketing initiatives identified for the current year.

Create a combined list of marketing initiatives you identified as a result of internal and external analyses and note them down on the marketing initiatives shortlist.Use the roadmap on the right to help you combine findings from External and Internal Analyses, and chalk-out an initial list of marketing initiatives for the current year. STEP 2: COLLATE EXTERNAL AND INTERNAL ANALYSIS FINDINGS TO SHORTLIST MARKETING INITIATIVES 12SWOTSWOT

341234InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved. 87Marketing Initiatives ShortlistMarketing Initiative Shortlist for the Current Financial YearS.No.StrategiesMarketing InitiativeReason for Selection 1. 2. 3. 4. How and when to use this tool: List down, and describe in fair detail, the marketing initiatives identified through external and internal analyses. In the adjacent column, briefly describe why these initiatives were selected. (Pl. note: This is not the final list of marketing initiatives you will implement this year. Arrive at the final list of initiatives for the current plan year at the end of the Marketing Initiative Prioritization Tool). Refer to slide 84 to fill this template.InstructionsTemplate# 2014 The Corporate Executive Board Company. All Rights Reserved.

APPENDIX(Marketing Initiative Selection Tool)Page-listing of SWOT Analyses within External Analyses toolsPage-listing of SWOT Analyses within External Analyses toolsHow and when to use this tool: Use the first column in the table below to access all the external analysis tools required to fill out External Analysis Findings Template on slide 82. Read the second column in the table to go to the exact location of the SWOT analysis findings page within each tool.S.No.Tool NameSWOT Location Within the Tool1Market Overview ToolMarket Overview ($ and Unit) Tabs2Competitive Differentiation ToolSlide 78 - Competitive Differentiation Tool Template3Trends Assessment ToolSlide 38 - Trends Assessment Tool Template5Competitive Positioning ToolExample Tab6Customer Share Development ToolCustomer Share Development Tab7Customer Understanding Tool

Slide 51 8Brand Health ScorecardBrand Health Scorecard Tab# 2014 The Corporate Executive Board Company. All Rights Reserved. MARKETING INITIATIVE PRIORITIZATION TOOL

91STEP 1: Conduct a Cost-Benefit AnalysisHow and when to use this tool: This tool helps you estimate the relative costs and benefits of implementing various marketing initiatives. Fill out each of the columns below using the guidance presented in the boxes at the bottom of the page. Finally, compare the expected return from launching each initiative, and note it down for later reference in step 3 on page 94. Use the illustrative examples given below for reference. Impact of Marketing InitiativesName of the Marketing InitiativeDescription of the Marketing InitiativeCosts to Run the Marketing InitiativeProjected Benefits of the Marketing InitiativeExpected ROI(Scale of 1-10; 1=low, 10=high)1. Create a differentiator brand campaignCreate an integrated marketing campaign highlighting two differentiating themes - trust and reliability$ 25,000$ 30,000

Increase in Purchase Intent by 10%52. Activate word of mouthLaunch brand ambassador campaigns to leverage existing customers as advocates to activate word of mouth around the two key brand attributes -trust and reliability$ 35,000$ 40,000

Increase in Purchase Intent by 25%

Increase in NPS by 10%8Create a rough cost estimate in terms of dollars spent or manpower hours.Project a rough estimate of benefits in terms of dollars, where possible, or use positive indicators such market share growth, NPS improvement, etc.For sake of comparison, estimate ROI on a relative 10-point scale, instead of calculating absolute numbersGet a list of Marketing Initiatives from page 84.Illustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. STEP 2: Check INITIATIVES FOR STRATEGIC ALIGNMENTHow and when to use this tool: This tool helps you rate each initiative in terms of their potential strategic impact. To use this tool:First, get a list of Marketing Initiatives from page 84 of this deck and list them in the first column.Next, fill out strategic impact ratings for each initiative, based on its alignment to firm strategy, ability to be scaled, and ability to generate competitive advantage. Note: these initiatives may not have an immediate financial ROI (e.g., lift in awareness), but they could result in other desirable business results (e.g., increase in lead pipeline).Finally, average out the strategic impact ratings in the last column. Compare the average strategic impact score from launching each initiative, and note it down for later reference in step 3 on page 94. Use the illustrative examples given below for reference.Strategic Impact of Marketing InitiativesName of the Marketing InitiativeAverage Strategic Impact Score(Scale of 1-10; 1=low, 10=high)

1. Create a differentiator brand campaign82. Activate word of mouth7Get a list of Marketing Initiatives from page 84 of this deck.Illustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. STEP 3: Select High Impact Initiatives How and when to use this tool: Use the matrix below to plot out each initiative based on its relative financial and strategic impact (as established in the right-most column in the tables on pages 92 and 93). While looking at the plot: Prioritize rolling out marketing initiatives that will result in the highest strategic and financial impact. These initiatives will typically fall in the quadrant numbered .Use discretionary or left over budget for rolling out initiatives listed in the quadrant numbered .Roll out low strategic and financial impact projects only in case you still have left-over marketing budget after rolling out projects listed in quadrants and .Strategic ImpactFinancial ImpactHighLow

LowHighMedium Priority Initiatives

Create a differentiator brand campaign

High Priority Initiatives

Activate word of mouthLow Priority InitiativesMedium Priority Initiatives1222112Illustrative Example, Alpha Health Insurance# 2014 The Corporate Executive Board Company. All Rights Reserved. 94MARKETING RESOURCE ALLOCATION TOOL

95MARKETING Resource Allocation TemplateHow and when to use this tool: This template helps you identify the key resources required to execute current year marketing initiatives. Use the table below to list out the key resources and the times when theyre needed to fulfill the objectives of each marketing initiative. Use the filled out example, practitioner tips and key questions listed below as a guide to filling out the table.Key Questions for Guiding Resource Allocation

What organizational resources, both inside and outside the company are critical to the success of this years plan?

Which teams (both Marketing and cross-functional partners), and how many people, will be involved in bringing the planned initiatives to successfu

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