“People do not care how much you know until they know how much you care.”―Teddy Roosevelt
Organizations that put customers’ needs at the center of their brand marketing and advertising strategy will strengthen their overall business performance. Danny Blatt knows this first handas Director of Market Research at Prudential. He was also o a presenter at The Market Research Event (TMRE) on Nov. 5-7, 2019 in Las Vegas, Nevada.
Danny shared his perspective on “Redirecting a Big Ship: How an Enterprise Segmentation Can Drive Brand Marketing and Advertising Strategy.”
How can leveraging an enterprise wide needs-based taxonomy help shape an organization’s future success?
Danny Blatt: We use the enterprise wide taxonomy and segmentation to enable the organization to move faster and be more focused. This data-driven approach to customers allows us to use a common language internally and focus on customer challenges in both development and communication.
What are some examples of how you leverage an enterprise wide needs-based taxonomy at Prudential?
DB: We are using the segmentation in a variety of ways. First of all, we made tough decisions on which segments to focus on for each business, based upon market size and attainability, among other factors. We then mapped our solutions to the segments allowing us to understand from the individual’s perspective how our solutions help them achieve their financial wellness. We are now developing customized messaging based on solutions and need to appeal to our audience. We will then target our customized needs based messaging to our target customers.
How does this approach help tell a compelling marketing story?
DB: We are using personas to bring the needs to life for our marketers, product developers and customer experience professionals to truly understand the challenges and needs of our customers. When they understand this, it builds empathy and real connections. This understanding is key to helping us be customer focused and consumer centric.