Establishing a goal helps the analyst centre the story they plan to tell, thereby focusing their approach. A company has one of the following 5 mutually exclusive, collectively exhaustive (MECE) objectives for its analysts: Build Awareness à Do consumers recall and recognize my brand? Influence consideration à Do my products satisfy consumers’ needs? Improve sales process à Do my sales efforts result in wins for my brands? Reposition the brand à Do the experiences I deliver fulfil customer expectations? Grow loyalty à Do consumers advocate for my brand?
Once the goal is set, we need to make sense of the data that is collected. Here, a framework or organizing philosophy becomes helpful. The framework we’re studying here is the “consumer decision journey.”
Earlier: The Funnel Metaphor
Now: Consumer Decision Journey
Trigger à Consumer decision journey starts with a trigger – shoe tears, computer breaks down Consider phase à customers look at the “initial consideration set” à several brands come to mind Evaluation phase à Evaluating brands against each other, new brands come into mind Post-purchase experience If the experience is good, you are in the loyalty loop à repurchase, advocate
We can take those five questions, each one aligned to a goal, and layer them into this consumer decision journey. If I do not find that consumers recall or recognize my brand à I need to build awareness à I need to get to them during that consideration phase. If I'm finding that the products that I produce actually don't fit the needs of the consumers that I'm advertising to à I have to evaluate, or I have to improve my position and their evaluation.
In conclusion,
Huge volume of available data means some organizing principle is needed to bring comprehension
Frameworks help focus collected data with purpose around your goal
Goals give meaning to collected data by setting context for the story you wish to tell
McKinsey’s Consumer Decision Journey is an exceptional framework for nearly any marketing related analysis