presentation for 2012 nextmedia in toronto, canada

Mirror, Mirror on the Wall…New Digital Media for ALL Products & Services for Generations X & Y

Template © Powered by www.RedOffice.com

Howard R. Moskowitz, Nadya Livshits, Linda Ettinger Lieberman, Moskowitz Jacobs, Inc.

Batool Batalvi, S B & B Marketing Research

Stephen D. Rappaport, Advertising Research Foundation

In the 21st century…companies will develop

New Digital Media products/services…What should they be?

Find out with…. Empathy & Experiment ™

Topics of Discussion

Psychology of Empathy ..and Science of Experiment

Is it about the product – or is it about the subject?

Data...data… Mind Genomics® of the New Digital Media oWhy a study?oHow?o So?

Segmentation Wizard™ – here is a person..offer?

Where do we begin?

•5 KEYS EMPATHY- look at ethnography/qualitative/ psychodynamics to decode ‘what works’

•It’s about who- the subject

•EXPERIMENT- gather ideas about the subject and run structured tests to discover messages about products/ services and create a typing tool

•Mix and match ideas, what floats to the top

Empathy & Experiment ™

Do we even know our customer?

But first…

6

What do Generations X and Y want and need?

• What New Digital Media services/products

do they want?

• How much they are willing to pay for them?

• Are there different consumer mind-sets?

Well, let’s find out!

IDENTIFY YOUR TARGET MARKET

Gender: 49% Female/51% Male Age: 48% 18-29 years Nationality: American Family Status: 60% Single Annual Income: 28% < $30K 59% >$30Kbut < $100K 12% > $100K Education: 43% college 13% grad/professional Ethnicity: Caucasian/Black/ Asian/Latino Neighborhood: City/Suburban

You want a future..but..…You want a future..but..…

Just who exactly is YOUR Customer? Just who exactly is YOUR Customer?

8

9

•Do an experiment

•Mix and match ideas

•Present to respondents

•Get interest

•Deconstruct…what floats up?

Let’s use a different problem approach

Use Mind Genomics® IdeaMap ®.net Use Mind Genomics® IdeaMap ®.net to create messaging for people to create messaging for people

11

DEVELOP SURVEY STIMULI AND QUESTIONS

Users of New Digital

Media Devices and Services

ANALYZED SURVEY RESULTS→ Mind Genomics® IdeaMap ®.netMind Genomics® IdeaMap ®.net

INTERNET invitation

Mind Genomics ® ® IdeaMap.netnetSUY SURVEY

IDENTIFY YOUR TARGET MARKET

Total Sample

Seg 1 Self Driven Online

Banking Seekers

Seg 2 Technology/

High Security Seekers

Seg 3 Collaborative

Online Seekers

Seg 4 Personal Touch with Technology

Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26

OC1 Connect online in 'real time' with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13

OC3 Faster loan application process…work in real time online with a loan officer 0 0 -8 12 -8

OC4 Our bank's customer service reps will help you browse and use our online banking services -1 0 -6 10 -10

OC2 Use our online tool to find and schedule at your convenience an online working session with an expert such as investment broker, insurance agent, and/or loan officer -3 1 -11 6 -12

ON3 We will answer all your requests in 'real time' by email, instant or text messaging 1 7 -11 3 -1

ON4 We offer 'On demand' status reports for services requests (e.g., loan application) delivered to you via e-mail, text or instant messaging

1 6 -4 -3 0ON2 No more paper mail... We will send you statements and images of

transactions securely by email -2 5 -17 -5 2ON1 We allow you to pay bills securely using your mobile devices (cell

phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2

BR3 We offer a bank-issued smart card so we can recognize you entering the branch and process your needs faster 4 2 6 -3 13

BR4 Choose a secure eye or finger security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3

BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster 2 -1 8 -5 6

BR1 We will recognize our customer's mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services -4 -3 -6 -11 2

Online Collaborative

Online Other

In-Branch Recognition

No more paper mail – we will send you copies of statements by secure e-mail

Securely manage your account by PDA, Internet of automated telephone

Our banks customer services reps will help browse & use our on-line services

Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it

No more paper mail – we will send you copies of statements by secure e-mail

Securely manage your account by PDA, Internet of automated telephone

Our banks customer services reps will help browse & use our on-line services

Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it

MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES

12

WHAT DO WE ALREADY KNOW?

Regardless of the features/services companies provide:

• Consumers are shifting how they use traditional communication tools.

• Consumer device decisions become an actual/virtual reflection

• Consumer level of engagement changes daily

• Consumers’ physical face-to-face communications will decrease, perhaps marginalizing non-users, with a potential loss of social skills.

13

WHAT DO WE ALREADY KNOW?

Regardless of the features/services companies provide:

• Consumers will increase the amount of time they spend re-making their image as reflected in social media

• Consumers forge new relationships,re-establish old ones and discover other people with common interests.

WE PUT TOGETHER A SIMPLE SURVEY

• Set up a conjoint online study• Concept stimuli • 7 categories of features/services

• Survey invitations• Sent to a panel of 300 respondents• 18 years of age and older

• Survey • Run October 15, 2012• Web-based internet research engine Mind Genomics® IdeaMap®.net

• Consumers asked 2 rating questions:

1) How likely would you be to subscribe on a monthly basis to this menu of services from the NEW MEDIA CORPORATION?

1=Definitely not subscribe ... 9=Definitely subscribe

2) If NEW MEDIA could deliver this specific menu, what should it charge PER MONTH?

1=Free 2=$9.99 3= $39.99 4=$5.99 5=$1.99 6=$19.99 7=$3.99 14

15

ORIENTATION SCREEN-ORIENTATION SCREEN-the first screen survey participants saw the first screen survey participants saw

16

Each respondent saw and rated a total of 48 concept screensEach respondent saw and rated a total of 48 concept screens(unique combinations of elements), first on overall interest…..(unique combinations of elements), first on overall interest…..

17

……then asked to put their own price on a monthlythen asked to put their own price on a monthly subscription for the servicesubscription for the service

18

What is appealing?

How do you feel when you read the concept?

• The data revealed four distinct respondent mind-sets

• “What to say”…. “What not to say”

• Will some messages make a respondent subscribe

to New Digital Media services?

Let’s see what we tested and what we found

19

20

Each respondent saw and rated a total of 48 concept screensEach respondent saw and rated a total of 48 concept screens(unique combinations of elements), first on overall interest…..(unique combinations of elements), first on overall interest…..

21

The constant is 7 – it is LOW. The elements don’t increase the propensity too much either…

22

Segment 1: Focus on Self-Experience

Segment 2: Knowledge: Learn New & Share Mine

Segment 3: Externalize & Involve Me

Segment 4: Socialize Me

DIFFERENT CONSUMER MIND-SETS:WHAT THEY WANT AND DON’T WANT

Segment 1: Focus on self-experience

Segment 2: The Knowledge-Segment 2: The Knowledge-Learn New & Share Mine ViewpointLearn New & Share Mine Viewpoint

Segment 3: The Externalize &Segment 3: The Externalize &Involve Me ViewpointInvolve Me Viewpoint

Segment 4: The Socialize Segment 4: The Socialize Me ViewpointMe Viewpoint

27

$$

28

$$

29

$$

30

$$

31

$$

32

$$

33

$$

34

Introducing Segmentation Wizard™Online example

http://www.mjiweb.com/mjitt/Media/Media.htm

35

36

On the spot… we know what to say On the spot… we know what to say or avoid saying for or avoid saying for Segment 1: Focus on Self-ExperienceSegment 1: Focus on Self-Experience

38

On the spot… we know what to say On the spot… we know what to say or avoid saying for Segment 2:or avoid saying for Segment 2: Knowledge: Learn New & Share MineKnowledge: Learn New & Share Mine

40

On the spot… we know what to say On the spot… we know what to say or avoid saying for Segment 3:or avoid saying for Segment 3:Externalize and Involve MeExternalize and Involve Me

42

On the spot… we know what to say On the spot… we know what to say or avoid sayingor avoid sayingSegment 4: Socialize MeSegment 4: Socialize Me

NOW YOU KNOW HOW TO REACH GENERATION X & Y CONSUMERS…

For further information on Empathy & Experiment™

Contact Moskowitz Jacobs Inc. • call 914-421-7408 e-mail mjihrm@sprynet.com

•Visit our website www.mji-designlab.com

Thank you !