In this episode of Brandstorm, we welcome Greg Chapman to the show. Greg talks about how important is if for companies with products or services to know and understand its customers in order to provide the best customer experience possible.
Greg Chapman is a merchandising, marketing and business operations veteran. He’s a C-Suite level executive with a track record of over 35 years of accomplishments and operating experiences. His career spans leadership roles at companies such as Provide Commerce, Sears, The Sharper Image, SkyMall, Shop NBC, and Best Products, before owning a full-service digital marketing agency. He created The Pocket CMO to help brands identify and develop customer-centric growth strategies that drive business.
Greg expresses the importance of customer experience and insists that the only way to fuel growth is by intimately knowing your customer.
Igor Ansoff Matrix
In 1957, Igor Ansoff created a matrix for a strategic guidance of growth. Greg discusses how this matrix is still very applicable today, and emphasizes that with each component of the matrix, CMOs for brands need to know the customers’ wants, needs, desires, and expectations to develop strategies for future growth.
- Market penetration
- Market development
- Product development
Creating Customer Personas
There are many approaches to getting to know your customers and one is not necessarily better than the other. Greg goes into detail about market segmentation, quantitative segmentation, ethnographic qualitative research, and value propositioning to gather the intelligence to create buyer personas that mirror your brand’s customers.
Customer Journey Mapping
A customer journey map illustrates every touch point a customer goes through in engaging with a company’s product or service. This process helps to identify if a company is fulfilling its brand promise to the customer. Understanding the customer journey with your brand is critical to brand growth.
Greg offers a 10-question assessment on his website that he uses as part of the discovery process when working with clients. While these questions are not necessarily in any order and not many, if any companies can answer all of them, the questions help business leaders dive deeper look into the customer experience their brand offers, identifying areas to further develop and nurture the experience.