The knowledge advantage
data-based decision-making in uncertain times
The current coronavirus crisis is turning many aspects of marketing, including sales, marketing, communication and services, upside down. Just think of the many shops that are now closed, and the events that have had to be cancelled. Or our own situation as we work from our home offices, spend very limited amounts of time in public places, order on the internet whenever possible, and get the latest news on our smartphones.
These significant social and economic changes are having a major impact on customer segmentation; information and purchasing behaviour; the reach and relevance of touchpoints; and key communication content. Unfortunately, however, there is a lack of consistent data and information on the current situation, which could serve as the basis for decision-making in order to operate more effectively in the market. This makes comprehensive marketing management almost impossible. The result is costly, poor decisions and lost opportunities.
For most people, the current situation is like fishing in muddy waters, making it impossible to take urgently needed decisions correctly, and thus secure a successful future return to the market.
Data, data, data – «the knowledge advantage»
The digital transformation has placed an enormous strain on many companies in recent years. It has also had a major impact on marketing efficiency and effectiveness. Up-to-date studies of advertising effectiveness have found scatter loss of up to 70 percent of the budgets assigned. Why is this? It’s due to the lack of sound data on communication performance and the relevance of individual touchpoints.
Behind terms such as customers, prospects, leads, stakeholders, employees, and even clicks are people in good times and bad. And this is exactly what our research work is all about. Accelerom can quickly and comprehensively analyse what touchpoints people are using to get information during the coronavirus crisis, what frightens and moves them, and what they are hoping and wishing for from politics and the economy once the emergency is over. Based on this data, we can determine how to communicate effectively and efficiently with different segments of the population in line with their individual needs – both during the crisis and afterwards.
To collect the data, we are interviewing people in all age groups in Germany, Austria, Switzerland and France using our scientifically validated methodology. Our innovative optimization algorithms generate totally up-to-date data for marketing, sales and communication, together with unique insights, enabling us to optimize the impact of the tools and resources used. Exactly as we have been doing for the past fifteen years.
Understanding the situation and acting in a customer-focused manner
Why are we doing this? We all need to reposition ourselves. But the challenge is not to return to the world before coronavirus. People, the economy, and society will be changed forever. The current "great crisis" will be followed by many smaller and moderately severe crises, because if you compare our system with an "organism", these are constantly being attacked and weakened. The reasons for this are found not least in our highly complex geographic, economic and social networks, and the resulting interdependencies. Uncertainty has become a daily companion, forcing everyone to act with more agility.
Comprehensive knowledge about how people are behaving in this crisis and what changes this will trigger in the medium term provides the raw material for successfully shaping the future. Businesses in particular can benefit from this, but also organisations and associations, as well as politics and political institutions. These can measurably improve their crisis communication. Depending on the situation and objectives, it is possible to act quickly and appropriately for each target group, as well as prepare and successfully position your marketing for the time after the shutdown.
"The knowledge advantage" is an independent entrepreneurial initiative by Accelerom AG, through which our specialists will share our most important research findings in short technical articles on a regular basis.
Our thanks go to the customers, partners and sponsors who have made this project possible in Germany, Austria, Switzerland and France.
How you benefit
In order to optimally manage marketing and communication we use an online survey to collect different quantitative and qualitative measurements. This data lets us help you to:
- Identify different population segments, as well as their core information needs in the crisis situation
- Determine the key touchpoints for the different population segments as they search for information and form their opinions
- Create transparency about touchpoint impact, revealing the reach and relevance of all 85 touchpoints studied
- Calculate optimal touchpoint mixes (mix modelling) for the different marketing processes, such as developing customer loyalty
- Analyse activity-focusing and complexity reduction
- Establish a basis on which to make impact-oriented budget allocations
- Undertake cross-country analyses and comparisons based on identical surveys
We use 360°TOUCHPOINT® to measure which touchpoints can be used to reach different segments of the population in the opinion-forming process:
- Comprehensive measurability - analogue and digital as well as owned, paid and earned touchpoints
- Additional specific crisis touchpoints, such as reports from those affected, recommendations on behaviour in public spaces, and help in the neighbourhood
- Total audience measurement (combined reach of different touchpoints) enabling an assessment of touchpoint mixes or multi-channel strategies
- Algorithm-based touchpoint mix calculations and optimisations
- Linking of target groups, content and touchpoint strategies
- Independent and scientifically validated (University of Zurich)
Our approach in detail
- We determine how population segments formed on the basis of psychological factors get information - and how these population segments shape or plan to shape their current and future everyday lives.
- We analyse what behavioural adjustments and changes in consumer behaviour can be expected during the period of normalisation. What values and principles will determine future relationships; what topics will increasingly occupy people in the post-coronavirus period? And will people change their consumption, media use and information habits in the long term, redefine their travel habits, and adjust their financial planning?
- Our touchpoint analysis of the current situation lays the foundations on which to address people effectively, quickly and appropriately on tomorrow's topics via the information channels they are using today.
Catherine Ammann, Analyst and Consultant
Dr. Sonja Heller, Analyst and Consultant
Dr. Peter Sopp, Principal Statistician