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Steve OnufreyiNovum, LLC.

BUILDING A SURVEY TO DEVELOP ADDRESSABLE MINDSFOCUS ON RATING QUESTIONS, ELEMENTS & CATEGORIES

Mathematical Instituteof the Serbian Academy of Sciences and Arts

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Agenda

1 Addressable Minds Flow – how it’s done

2 Survey – how panelists see it

3 Conjoint analysis

4 Element & categories: how to create and group messages

for your survey

5 Loading and running a survey in IdeaMap

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Create Addressable Minds messaging for potential students

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DEVELOP SURVEY QUESTIONS

Potential Students

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET IdeaMap™SUY SURVEY

IDENTIFY 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 applicat ion) delivered to you via e-mail, text or instant messaging

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

transact ions 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 Collaborat ive

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 telep hone

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 telep hone

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 TYPING ENGINEMARKETING PHRASES

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DEVELOP SURVEY QUESTIONS

Potential Students

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET IdeaMap™SUY SURVEY

IDENTIFY TARGET MARKET

Conjoint analysisOrdinary Least Squares

RegressionDiscriminant Function

Analysis

Experimental Design – Stimulus/Response

Create Addressable Minds messaging for potential students

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The Addressable Mind Study begins with an orientation screen

Rating questions

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Each respondent evaluates 48 (6x6) or 40 (4x6) unique combinations of elementsFirst measures overall interest

Elements (3-4 per screen)

Rating question # 1

Anchor Description and Scale

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Then identifies a single emotion

ElementsRating question # 2 Emotions

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Conjoint AnalysisQuantitative method of marketing research

Determine how people value different features that make

up a product/service. What combination is most appealing?

Rather than directly asking respondents what they prefer

in a product, or what attributes they find important…. we

evaluate multiple product features on each vignette

(screen).

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What is a Rating Question (1 of 3)?

It is the main question asked throughout the survey

Questions on which your concepts will be rated by survey-

takers/consumers

Maximum two rating questions per survey:

1st – Interest and 2nd – Emotions

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What is a Rating Question (2 of 3)?

Rating Question – Interest. Determined by a purpose or a

business goal of the study.

How likely are you to buy this product/service?

How well does this describe you?

How interested are you in this offer?

How likely are you to enroll in this program?

How much would you donate to this cause/pay for this

product or service?

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What is a Rating Question (3 of 3)?

Rating Question - Emotions

How do you feel when you read these messages?

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The rating scale for questions in the IdeaMap.NET is

fixed 1 to 9. Suggested anchor descriptions:

1 = Not at all likely. . . 9 = Very likely

1 = Not interested at all . . . 9 = Very interested

1 = Won’t donate 2 = $20 or less 3 = $30

4 = $40 5 = $50 or more

1 = Not at all. . . 9 = Very much

1 = Eager 2 = Interested 3 = Indifferent

4 = Curious 5 = Uncertain

What is a Rating Scale/Anchor Description?

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What are categories (also referred to as “silos”)?Categories used for organizing elements. Like different files in a filing cabinet, organizing or grouping similar statements (elements) in one place.

IdeaMap.Net chooses elements from different categories so two elements from the same category will never appear on the screen at the same time.

A study with 6 categories and 6 elements per silo typically gives the most flexibility and richest results.

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What is an Element?

It is the single most important component of a project.

Elements are bite sized ways of talking about a product,

service or an idea ("nuggets of information").

Respondents see each single element few times during the

survey

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Where do elements come from?

Brainstorming/Ideation – make them up

Current advertising/packaging or that of your

competitors – use messages already available on the

market

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How to create elements? (1 of 3)

Elements should be stand-alone phrases, not single words or incomplete ideas!!X Small, medium, largeV Comes in 3 different sizes…small, medium and large

Stay away from negative statements!!X Because you’re fatV It will help you achieve your ideal weight

Avoid Using Periods! It disrupts logical flowX More than just a stylish car. This car is capable of turning heads.V More than just a stylish car…capable of turning heads

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Make elements sound personal, and concentrate on what consumers would want to hear!X For wealthy peopleV Because now you can afford it

Consistency!!! - All elements should be in the same tense, and in the same person. Try to stay away from first personX I can’t believe it tastes so goodV You won’t believe how good it tastes!

Use short statements!! Max 25 words

How to create elements? (2 of 3)

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Elements should convey a single thought

X Enjoy a great tasting chocolate shake available in a convenient on the go drink box

In this example either the flavor (chocolate) or the packaging (drink box) or both together can be the driving force

V Enjoy a great tasting chocolate shake Available in a convenient on the go drink box

How to create elements? (3 of 3)