Driving business customer behaviour with CVM
THE BUSINESS GOAL
To achieve steep revenue and market share targets in the SME market
Spark serve business customers of all sizes from small to enterprise level across New Zealand. Clear business priorities were needed in order to hit steep targets. As the Spark business was going through a period of significant change, the team who manage SME customers needed to quickly set priorities that were deeply grounded in serving their business market’s core needs. Spark had volume data about customers, but no reliable framework to make sense of it to determine the focus for the business and meet challenging retention and acquisition targets.
Spark and One Picture worked collaboratively to develop a predictive framework, starting with surfacing SME customers' priority needs. Bespoke value models were developed for Spark for the different sized business segments with clear priorities for action. It reliably linked Spark’s and other providers customers’ perceptions of the value delivered by their provider, to customers’ intentions, buying behaviour and to the outcomes for the business in terms of revenue potential for Spark. Actionable business priorities were identified for driving customer retention, recommendation and new customer acquisition.
THE OUTCOME – BUSINESS
The clarity and prioritisation this research has provided has proven highly valuable to the Spark teams. Our insights are being used to inform and design business priorities as part of a longer term strategy. Spark can now confidently focus on delivering excellence on the issues that matter most to the business market in order to both attract and retain customers. The approach has been so trans formative that it has been applied across other areas of the Spark business including Consumer customers and those using the Spark Retail Channel.
THE OUTCOME – CONSUMER
In the Consumer segment, numerous initiatives have arisen as a result of this insight, right across their four consumer product categories:
- 1) New ways of talking internally around pricing – a more holistic view of what matters to customers here and how to drive up perceptions of value without lowering prices
- 2) A new customer experience initiative resulting in reduced churn
- 3) The creation of an extensive proactive comms campaign addressing a priority customer need
- 4) A revised ongoing voice of customer measurement system, measuring what matters
- 5) Informing a product team in crafting a new proposition and prioritising what aspects will best resonate with customers
- 6) Customer NPS drivers imbedded into product team training and used to prioritise upcoming work streams
“We are often asked to talk about pain points, and what’s important to customers. But we fall back on whatever is the noisiest issue throughout our various channels. Before this project with One Picture we had no reliable holistic view of all the issues that matter to businesses, or which ones have the greatest impact on customer acquisition and retention. Now we do"
If you would like to know more about creating your own bespoke consumer Neighbourhood or running strategic B2B projects with SMEs, reach out to Nathan at NathanF@onepicture.com