Strategic ‘road map’ development
The objective of this stage is to look at the problems/opportunities through a variety of different lenses to find differentiating advantages, and then establish a framework for success. Each of the following tasks has its own deliverable.
Identifying critical insights– evaluating the information gleaned in the understanding stage to uncover those truths that put things in a different light. Examples from past engagements include
- 15% of customers account for 92% of profits
- Brands are spending tens of millions on loyalty programmes, but the customers are inherently disloyal
- Customers say they want more hard benefits, but some brands are more suited to recognition value
Mapping the experience set – what value do your customers derive from other programmes outside your category in which they participate? How does it frame their expectations of you? Which high-value components might be portable?
Setting clear, measurable objectives – pressing for clarity on direction and order-of-magnitude for the programme looking forward. Setting objectives as yardsticks for success. What are the implications of focus on profitability versus market leadership in size, scope, or preference? Developing a short list of objectives for the company to debate and ultimately rally behind.
Identifying desired behaviour patterns – for actionable segment of customers, what is the specific behaviour pattern, which will result in achieving objectives?
Assessing obstacles to desired behaviours – there are reasons why customers are not presently behaving as desired. The “obstacles” may be attributed to systems, attitudes, experiences, awareness, society or competition. For each segment of customers, we identify the greatest obstacles between current and desired behaviour patterns as a means of measuring the challenge.
Preliminary financial model – high-level model to gauge the probability for financial success in anticipation of platform design effort. Key variables will be modeled to project potential benefit and allowable operational and funding rate structures.