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
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.