netrashetty
Netra Shetty
FedEx Corporation (NYSE: FDX), originally known as FDX Corporation, is a logistics services company, based in the United States with headquarters in Memphis, Tennessee.[1] The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000.
Home Marketing Research News Latest Market Research Findings Are Impersonal Messages Hurting Your Online Marketing?
Are Impersonal Messages Hurting Your Online Marketing?
Written by eMarketer
Marketers who fail to segment and target their messages may be at risk
Marketing trends—especially in digital—are motivating brands to be more interactive and engaged with their customers.
Rather than pushing out interruptive messages that targets will ignore or find annoying, many are working to create marketing experiences that appeal to customers as individuals.
And they know if they neglect to do so their brand could be at risk.
In an Alterian survey of marketing professionals, nearly three-quarters said they or their clients tried to create personalized customer experiences through email, the top channel for doing so.
Direct mail, website and social media fell far behind but nearly even with each other in the 53% to 59% range.
Notably, less than 9% of respondents said they did not use any of the cited channels for a personalized customer experience. While marketers may not use every channel at their disposal to do so, they recognize the importance of personalization.
Asked specifically about email, a plurality of respondents said they segment their audience and send different messages based on the segmentation.
The second-most-popular response, however, was blast emails with basic personalization—which is often not enough to appeal to recipients.
Only about half as many said they delivered truly personalized email marketing messages based on individual preferences.
Based on their usage of digital channels for personalized and interactive marketing, most respondents felt their brands could be at risk because of a lack of customer engagement.
hen planning new products, companies often start by segmenting their markets and positioning their merchandise accordingly. This segmentation involves either dividing the market into product categories, such as function or price, or dividing the customer base into target demographics, such as age, gender, education, or income level.
Unfortunately, neither way works very well, according to Harvard Business School professor Clayton Christensen, who notes that each year 30,000 new consumer products are launched—and 95 percent of them fail.
"The jobs-to-be-done point of view causes you to crawl into the skin of your customer and go with her as she goes about her day, always asking the question as she does something: Why did she do it that way?"
The problem is that consumers usually don't go about their shopping by conforming to particular segments. Rather, they take life as it comes. And when faced with a job that needs doing, they essentially "hire" a product to do that job. To that end, Christensen suggests that companies start segmenting their markets according to "jobs-to-be-done." It's a concept that he has been honing with several colleagues for more than a decade.
"The fact that you're 18 to 35 years old with a college degree does not cause you to buy a product," Christensen says. "It may be correlated with the decision, but it doesn't cause it. We developed this idea because we wanted to understand what causes us to buy a product, not what's correlated with it. We realized that the causal mechanism behind a purchase is, 'Oh, I've got a job to be done.' And it turns out that it's really effective in allowing a company to build products that people want to buy."
Christensen, who is planning to publish a book on the subject of jobs-to-be-done marketing, explains that there's an important difference between determining a product's function and its job. "Looking at the market from the function of a product really originates from your competitors or your own employees deciding what you need," he says. "Whereas the jobs-to-be-done point of view causes you to crawl into the skin of your customer and go with her as she goes about her day, always asking the question as she does something: Why did she do it that way?"
Hiring a milkshake
In his MBA course, Christensen shares the story of a fast-food restaurant chain that wanted to improve its milkshake sales. The company started by segmenting its market both by product (milkshakes) and by demographics (a marketer's profile of a typical milkshake drinker). Next, the marketing department asked people who fit the demographic to list the characteristics of an ideal milkshake (thick, thin, chunky, smooth, fruity, chocolaty, etc.). The would-be customers answered as honestly as they could, and the company responded to the feedback. But alas, milkshake sales did not improve.
The company then enlisted the help of one of Christensen's fellow researchers, who approached the situation by trying to deduce the "job" that customers were "hiring" a milkshake to do. First, he spent a full day in one of the chain's restaurants, carefully documenting who was buying milkshakes, when they bought them, and whether they drank them on the premises. He discovered that 40 percent of the milkshakes were purchased first thing in the morning, by commuters who ordered them to go.
The next morning, he returned to the restaurant and interviewed customers who left with milkshake in hand, asking them what job they had hired the milkshake to do. Christensen details the findings in a recent teaching note, "Integrating Around the Job to be Done.
Home Marketing Research News Latest Market Research Findings Are Impersonal Messages Hurting Your Online Marketing?
Are Impersonal Messages Hurting Your Online Marketing?
Written by eMarketer
Marketers who fail to segment and target their messages may be at risk
Marketing trends—especially in digital—are motivating brands to be more interactive and engaged with their customers.
Rather than pushing out interruptive messages that targets will ignore or find annoying, many are working to create marketing experiences that appeal to customers as individuals.
And they know if they neglect to do so their brand could be at risk.
In an Alterian survey of marketing professionals, nearly three-quarters said they or their clients tried to create personalized customer experiences through email, the top channel for doing so.
Direct mail, website and social media fell far behind but nearly even with each other in the 53% to 59% range.
Notably, less than 9% of respondents said they did not use any of the cited channels for a personalized customer experience. While marketers may not use every channel at their disposal to do so, they recognize the importance of personalization.
Asked specifically about email, a plurality of respondents said they segment their audience and send different messages based on the segmentation.
The second-most-popular response, however, was blast emails with basic personalization—which is often not enough to appeal to recipients.
Only about half as many said they delivered truly personalized email marketing messages based on individual preferences.
Based on their usage of digital channels for personalized and interactive marketing, most respondents felt their brands could be at risk because of a lack of customer engagement.
hen planning new products, companies often start by segmenting their markets and positioning their merchandise accordingly. This segmentation involves either dividing the market into product categories, such as function or price, or dividing the customer base into target demographics, such as age, gender, education, or income level.
Unfortunately, neither way works very well, according to Harvard Business School professor Clayton Christensen, who notes that each year 30,000 new consumer products are launched—and 95 percent of them fail.
"The jobs-to-be-done point of view causes you to crawl into the skin of your customer and go with her as she goes about her day, always asking the question as she does something: Why did she do it that way?"
The problem is that consumers usually don't go about their shopping by conforming to particular segments. Rather, they take life as it comes. And when faced with a job that needs doing, they essentially "hire" a product to do that job. To that end, Christensen suggests that companies start segmenting their markets according to "jobs-to-be-done." It's a concept that he has been honing with several colleagues for more than a decade.
"The fact that you're 18 to 35 years old with a college degree does not cause you to buy a product," Christensen says. "It may be correlated with the decision, but it doesn't cause it. We developed this idea because we wanted to understand what causes us to buy a product, not what's correlated with it. We realized that the causal mechanism behind a purchase is, 'Oh, I've got a job to be done.' And it turns out that it's really effective in allowing a company to build products that people want to buy."
Christensen, who is planning to publish a book on the subject of jobs-to-be-done marketing, explains that there's an important difference between determining a product's function and its job. "Looking at the market from the function of a product really originates from your competitors or your own employees deciding what you need," he says. "Whereas the jobs-to-be-done point of view causes you to crawl into the skin of your customer and go with her as she goes about her day, always asking the question as she does something: Why did she do it that way?"
Hiring a milkshake
In his MBA course, Christensen shares the story of a fast-food restaurant chain that wanted to improve its milkshake sales. The company started by segmenting its market both by product (milkshakes) and by demographics (a marketer's profile of a typical milkshake drinker). Next, the marketing department asked people who fit the demographic to list the characteristics of an ideal milkshake (thick, thin, chunky, smooth, fruity, chocolaty, etc.). The would-be customers answered as honestly as they could, and the company responded to the feedback. But alas, milkshake sales did not improve.
The company then enlisted the help of one of Christensen's fellow researchers, who approached the situation by trying to deduce the "job" that customers were "hiring" a milkshake to do. First, he spent a full day in one of the chain's restaurants, carefully documenting who was buying milkshakes, when they bought them, and whether they drank them on the premises. He discovered that 40 percent of the milkshakes were purchased first thing in the morning, by commuters who ordered them to go.
The next morning, he returned to the restaurant and interviewed customers who left with milkshake in hand, asking them what job they had hired the milkshake to do. Christensen details the findings in a recent teaching note, "Integrating Around the Job to be Done.