Customers may desire a product for common Intentions (to Share or Utilize or Transition, etc.), yet hold vastly different emotional Drivers (such as Rational, Prudent or Spontaneous) as well as Deterministic Attributes (including for Self or Family or Fun).
Navi isolates readiness, charting it on a spectrum from Striker to Researcher to Explorer. Don't let the Strikers get away, they're ready to buy now! And nurture Researchers & Explorers: earn their loyalty by responding to their specific triggers.
Knowing customer needs, beliefs & behaviors (versus placing hope in spray & pray campaigns) is critical to developing a Customer-of-One brand. Navi acts on the Critical Success Factor for effective marketing: “Predict intent, find unexpected connections between goals & habits of your customers.” (The Future of Marketing, Emerging Technology).
In the case shown, Navi reveals insights for a customer we'll call Natalie. Based on Natalie's searches across a defined time-period, we capture her "purchase DNA" — 5 discreet insights from a staggering 1,361,129,467,683,750,000,000,000,000,000,000,000,000 mathematical possibilities** within this Banking example. When marketing to Natalie, these 5 constructs must lead messaging:
Driver(s): Resourceful, Rewarding, Thrifty
Attributes: Retirement Income, Minimize Payments
*“A determinant attribute does not have to be the most important attribute but it is the attribute that the consumer uses to ultimately distinguish one service offering from another.” (Botha, Bothma & Brink)
** 2 ^8 (Intentions) x 2 ^26(Drivers) x 2 ^98(Attributes)
Beyond analyzing "Purchase DNA" at the individual-level, NavXzy® reveals insights for product development & marketing to many. By applying dissimilarity coefficients to customer-relevant Product sets, NavXzy® builds clusters of product-centric customers. Proprietary algorithms then expose recurring behavioral & psychographic concepts. This example illustrates how Navi reconciles individual "Purchase DNA" (shown above/left) with cluster commonality (below) to reach singular messaging that is highly-effective for many. Further, behavior measured across time-stamps reveals hot — as well as fading — intention-based trends. For more on how Navi leverages "Purchase DNA," read about Navi's Results Engine.
The journey from awareness to consideration to purchase varies among customers. Some online customers know what they're seeking, others learn as they go, or simply browse. Recognizing how Strikers differ from Researchers & Explorers, Navi alerts the need for marketing urgency — or the need to educate, nurture or encourage.
Navi builds Readiness to Buy Intelligence based on the subtle variation between searches. Combining proven mathematical models with a proprietary application, Navi plots each customer against the spectrum of Striker, Researcher & Explorer.
By capturing deep pre-conversion intelligence, NavXzy® accelerates customers to commitment. Through behavioral type, engagement becomes personal, non-threatening & desirable.
The attached image shows 5 potential customers. The first we'll call Lynne, who is clearly an Explorer: notice her white dot approaches the spectrum's edge. Lynne is more surfing than settling. Nonetheless, we capture Lynne's intentions, drivers & "Purchase DNA." A marketing department then leverages this intelligence to nurture Lynne's interest, providing education, benefits & deals that reflect Lynne's wants & needs.
The next three examples are Researchers of varying maturity. Although anchored in their wants & needs, their search behavior indicates that they seek affirmation before striking.
Our final example, who we'll call Jake, plots as a Striker, but he's barely more than a Researcher. Responding to Jake, marketing departments need to act quickly, combining education & benefits along with value-descriptions that reflect Jake's "purchase DNA."
Customers execute purchases across the emotional-to-analytical spectrum. By understanding customer psychographics, marketers can appeal precisely to customers: not to manipulate, but rather to squarely respond to customer hesitation & uncertainty.
In the example shown, the potential customer (who we'll name Justine) plots Moderately Emotional. Of Jasmine's statistically recurring drivers, the emotional Daring, Nurturing & Spontaneous outweigh her lone analytical driver, which is Resourceful. While Jasmine tends to be less analytical when framing her purchase goals, messaging should reflect her placement on the spectrum. To ignore her score of Moderately Emotional (vs Strongly Emotional) would do her disservice, and would lessen her commitment to buy.
Beyond knowing if a buyer acts more on emotion or analysis, NavXzy® reveals cognitively-related customers. Rather than mathematically average similarities to generate "median nobodies," our medoids represent living, breathing personas that react to news, economics and cultural / social influences. Our real-time personas are never dated or stale — they are never, as customer-experience guru Mark Hurst has noted of fictitious personas, a misguided investment.
Hurst warns, "Every hour spent considering what an imaginary person would want from a product, or how they would react to a decision, could be spent observing how actual people do react, and what they do want. Relying on fictional people to guide a decision is a lot like ignoring customers altogether, except it costs more." (Customers Included, Hurst and Terry).
Commonly, a product is marketed based on features or components rather than why it satisfies a unique want or need of the potential buyer. Rarely are emotional vs analytic triggers isolated in a meaningful, personal way.
In this simple example, consider a Home Equity Line of Credit. Ask a friend, even a professional banker, to guess the number of reasons someone might want this product. Do a handful seem reasonable? Maybe a dozen? Think again. The attached chart shows 3 intentions, 5 potential psychographic drivers, and 6 deterministic attributes. Go from website to website, and find the same handful of marketing catch phrases. Yet, mathematically, the nuances equal 16,383!
Look closely and you'll begin to see why. Barb wants to Utilize her home asset, doing so for a Daring move of staring a Small Business in catering. Stuart is different. He's ready to Transition to a relaxed stage in life, Rewarding his family with Immediate Income to travel & explore his ancestral Scottish roots, and maybe purchase a cottage in the hamlet named after his great-grandfather.
Through Navi, we know precisely how to market this product:
1. Barb is UTILIZE, DARING, SMALL BUSINESS.
2. Stuart is TRANSITION, REWARDING, IMMEDIATE INCOME.
3. Doreen is CONTAIN, RESOURCEFUL & NURTURING, FINANCIAL SECURITY.
The possibilities go on. For another 16,380 reasons, to be exact! And Navi isolates groups of like-buyers the same way. Of 500 customers exploring a Home Equity Line of Credit, Navi forms statistically similar clusters, allowing for mass marketing that feels customized to each potential customer. For example, Theo, Jules, Amy & 17 others are TRANSITION & CONTAIN, CREATIVE, HOME REPAIR. With precision, Navi reaches individuals as well as multiples.
Care to see how this example might apply to your business? Our knowledge engineers are ready to work with Subject Matter Experts. We'll map product & services against Navi's patented approach for isolating customer DNA. Get ready to be amazed!
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