understanding change in customer needs; measuring and understanding value
TRANSCRIPT
Understanding the change in customer needsRichard Ferrers, ANDS Research Data Analyst
May 2013
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Understanding the change in customer needs
1.Understanding what customers value in a service environment: Australian National Data Service
2.Measuring perceived customer value; sensing customer value
3.Exploring what value means for your customers: Case Study - 3G Mobile phones 2004 - 2009
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Business Analytics: Value vs Assets
Statement of Accounting concepts (SAC4); assets are measureable; reliable; objective...
assets are: probable future benefit, cost/value measure reliably
assets are: controlled by the entity
Value is subjective; relative, dynamic, social, experiential, constructed, emotional (Ferrers 2007, 2011, 2013)
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What is value?Aristotle: utility, exchange, conspicuous consumption (Gordon 1964)
Marx (1865): labour theory of value (V)
Bailey (1825): V in the eye of the beholder; subjective
Sveiby (1997): tangibles plus intangibles in SHV
Vargo and Lusch (2004): V conversation, service dominant logic
Kim and Mauborgne (2005): multiple dimensions of V
Ferrers (2013): Needs are a dimension of value (1/12)4
Value: Theory and Practice
Theory: 3G mobile phone study, UQ Business School PhD
Practice: ANDS service organisation: project funded
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Who are ANDS.org.au: Australian National Data Service?
customers: Public Sector and Universities, Department
goal: more researchers reusing research data more often - make Australian research data collections more valuable by managing, connecting, enabling discovery and supporting the reuse of this data
funding: $75 million from Dept. of Industry, Innovation, Climate Change, Science and Research
resources: 50 staff, five states
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1.Problems of Analysis: Measuring Value at ANDS
Project with budgetted expenditure and Business plan activity: need demonstrations of VALUE to show worth
No revenue: proxy for customer value
No market value: proxy for shareholder value
No balance sheet
Cashflow
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2.Measuring/Perceiving Value at ANDS
Customer contribution: co-investment
subjective: customer satisfaction
examples: publish in newsletter <add ClientFeedback>
Service Usage: web traffic, video downloads, most viewed pages, pdfs
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Process of tracing Value at ANDS
Issues Register; documenting issues (245)
Client Liaison Officers; face to face customer contact
GoTo Meeting; webinars, meetings; virtual contact
Monthly Informals; face to face customer community
eResearch Australasia annual conference
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Issues Register: Value Management in action
from Progress and Final Reports
Section to comment on:
- issues needing ANDS facilitation
- issues need direct advice and support
- achievements to share
Director's review; traffic lights, keywords, weekly review, follow up action
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3.Understanding Consumers' value: 3G
What do consumer’s value? Value is complex
12 value meanings; <a Rose Window>
80 value elements; Appendix of thesis (Ferrers 2013)
A simple example:
Consumer quotes: Value is dynamic ("wasting all my money", "liked it")
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Implications of Value for Managers
Manage value alongside sales and profit; value metrics
Engage customers in a value conversation; discover value
Sense and respond to changes in customer value; value management
Lead customers to better value; value leadership
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More at:
valman.blogspot.com ...Continue the conversation...
- [email protected] (...Consulting...)
- PhD thesis at: figshare (200 pp.)
http://dx.doi.org/10.6084/m9.figshare.680002
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