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- Comments Off on Valuegraphics: a new approach to customer profiling

Valuegraphics: a new approach to customer profiling

David Allison is a consumer behaviour researcher and advisor who dedicated the past few years to developing a completely new systematic for consumer profiling, named Valuegraphics. What is so revolutionary about it? In this blog article, we take a closer look on Valuegraphics, using the example of environmentally-motivated people.

I was made aware of David Allison’s research in one of the recent episodes of Target Internet’s Digital Marketing Podcast. In that podcast, several reasons are mentioned, why traditional metrics do not work anymore. I find it in my marketing practice, demographic variables such as age, gender, income, marital status, etc. are still used very often, even though their explanatory power is considerably low.

The time is ripe to start describing target audiences using more meaningful metrics. The concept of Valuegraphics is based on three years of research, spent mostly with collecting answers on a survey of 340 questions, using an adaptable algorithm. In the questionnaire, 40 core human values and 340 wants, needs and expectations were evaluated. The large sample of about 75,000 people from several English-speaking countries allowed for a high level of confidence (95%) and a very low margin of error (3.5%). Pretty impressive, in my opinion!

When using only demographic characteristics as segmentation metrics, the agreement levels to the 340 questions of the questionnaire were almost always well below 20%. For example, when it comes to age, the agreement levels were only 13% to 15%. Such low numbers actually make marketers, who state that they are targeting the millennials or baby-boomers, look like fools! When using the peoples’ values as metrics for segmentation however, the agreement levels rise up to 76% to 89%!

These numbers made me curious to find out more about the concept and I was lucky enough to find a video explaining one of the main Valuegraphic archetypes, the environmental assembly. First you might ask, what is an archetype? An archetype is a broad characterization of a personality. Archetypes aren't identical, but they share identifiable traits. We can predict what the person will most likely do, because he (or she) will most likely act consistently with this (or hers) archetype. David Allison’s team identified ten main Valuegraphics archetypes; all of them are shortly described here. Now, let’s take a closer look at “the environmentalists”.

The environmental assembly represents 17% of the U.S. and Canadian population, which is not that little. The primary motivator of their actions is how they influence the planet. They agree 82% of a time to the 340 variables from the questionnaire, making for a pretty large and homogeneous group of customers. They all share an extreme and personal environmental concern. The important factor here is their belief that they can make a difference with their personal actions. Besides the environment, they highly value family, and are motivated mainly by their spiritual and physical health and well-being. Yes, you will have a hard time motivating them to get involved with means that could possibly threaten their well-being. Actually, they have the most family money and the lowest debt out of all archetypes; therefore they can afford buying and paying the premium for green products and services that activate their values.

75% of them want to be more environmentally sensitive, but only 15% of them know how. There is a clear gap and they want to be educated on ways how to do more. Interestingly, they are less interested in social media and incline more to direct mailings than all the other archetypes. They want to be part of a group that is heading to a more environmentally friendly direction. Also, they like rewards. Oh yeah, not to forget, there is one thing that for sure does not work with them - shame. It is crucial to keep the things positive when targeting this archetype.

Pretty interesting, right? Can you as well already sense how could Valuegraphics positively affect your communication strategy? You can find more information on the Valuegraphics homepage or in the book “We Are All the Same Age Now: Valuegraphics, The End of Demographic Stereotypes” by David Allison.

Sources:

  1. Target Internet’s Digital Marketing Podcast Episode 210: Discover Valuegraphics
  2. David Allison: The Environmental Assembly (Youtube video)
  3. David Allison: Which of these 10 personality archetypes applies to you?
  4. Kelly Teemer: What Are Valuegraphics and Why Do They Matter?
  5. David Allison: How to Recognize Ten Different Valuegraphics Archetypes by Their Core Values
  6. The Daily Curier: New marketing method dismisses demographics
  7. The Valuegraphics homepage
  8. Linked-In chat with David Allison (Thank You!)

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- Comments Off on Where Do We See The Greatest Potential (Journal No. 3)

Where Do We See The Greatest Potential (Journal No. 3)

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Simple answer is; we see potential EVERYWHERE! Europe is full of great research, ideas and is still at the top in many areas globally.

But looking around the globe and seeing major technology trends, we believe there’s potential to innovate everywhere; take high-level areas like healthcare, education, energy, transportation or government services and smart-cities.

Some of these are certainly areas where Europe has immense experience without many people realizing it. Our cities are smart, pretty good to live in, our healthcare is high quality. This gives us great base to build on. But high level look at our education or government services and you have the biggest areas for disruption. So disconnected from real people and technology trends. But don’t take our word for it, look around the world and then come and talk to us about your ideas.

Naturally at the start we are building on our previous business experiences and partner networks. From that perspective we are adding immediate value to teams working on technology application in the industries like: 

  • transportation — whether it’s public transport, automotive, aviation, aircraft manufacturing or cool space tech;
  • healthcare & pharma;
  • education & publishing;
  • communication & telco;
  • P2P finance & fintech;

We don’t look only on direct business opportunities. We carefully watch what’s cooking in academic circles and many times we will cooperate with academia on concrete projects. Many global opportunities in Europe-originated projects lie in building on well funded primary research projects.

We look for and want to build on primary expertise in areas like physics, math, behavioral science, AI, robotics, material science.

By building on expertise we mean supporting projects and individuals from applied research, across early idea development and search for product market fit to successful commercialization and global growth. Many of the great global businesses started at academia, let’s use this model too!

Now, one thing we haven’t stressed enough is that we believe in students and young people being in the forefront of our future success.

Our hD42Lab is the space created mainly from our experience with young innovators and ideas holders.

Many really good and sound ideas don’t cross the line into successful business world because of few miss-steps at the beginning. We are here to help and increase that success rate in cooperation with partners and universities. We’ll help you find a place for that idea of yours.

What do you think? Where is your strength and how will you help push Europe forward? Don’t forget, everyone counts and we want you as a member, a partner or a supporter. We are building on great partnerships from the past and we form new ones all the time. Every platform is fueled by its members, so if you are a student, open minded gal or guy, a research institutions, university, accelerator or investor. You may even be a business or corporation which believes in our vision then we are happy to have you on board…just reach out!

 


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- Comments Off on Why We Say “Platform For Open Ideas” (Journal No. 2)

Why We Say “Platform For Open Ideas” (Journal No. 2)

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We mentioned it before, we want hDock42 to become a catalyst helping to Make Europe Great Again! We also said we can’t do this alone so it appears that naturally hD42 must become a platform for generating, connecting and attracting :
  • crazy and bold ideas;
  • smart & active people;
  • open minded and active institutions or companies;

We mention “crazy ideas” intentionally because only those provide a path from promising R&D to projects with moonshot potential (yes, we stole this one from Google’s terminology).

New products need to be driven by imagination and not by user-group research.

We also mention “smart & active people” intentionally; there’s such a disconnect between time and place where ideas / people / business knowledge / technical knowledge sit.

There are many bright minds with great ideas in Europe, but how to take them into global business world? Vice-versa; there are many skilled folks who are looking for interesting ideas to work on because they feel they don’t have a breakthrough idea themselves. And if you combine both, then even better!

Whatever situation you find yourself at there’s a compelling reason to create place for open ideas sharing. Nothing re-creates the culture of joint success like open ideas sharing. Isn’t it ideal when people happily support someone else working on their idea rather than sitting on it and doing nothing! Of course, we are willing to chip in with our ideas first, no worries.

We want researchers talking to business people about spinning off their research projects, we want “to-be entrepreneurs” openly sharing their ideas and thinking so others can provide feedback and chip-in ideas, we want startups treating growth and profits as equal, we want profitable projects to think global expansion.

We want all of us to realize that it’s not about breakthrough idea from the lab, brainstorming session or from a shower. It’s not about your experience, it’s not even about funding — it’s first and foremost about finding out what your “product market fit” looks like and that fit must be global from the start! It’s about thinking global business from day one and having balls to push through to global success.

We are absolute believers that open sharing of ideas will bring in active people and will lead to natural formation of interest groups and successful teams adopting new ideas as their own and hopefully making them happen on global scale. By the way that’s what makes Silicon Valley so vibrant and cool place to be in.

via GIPHY

We are here to support such teams in “product market fit” validation and helping them find “smart financing” for global growth. Will you join us?

As we mentioned before, we wouldn’t want to and we can’t do this alone! Do any of these ideas resonate with you, want to join us or become our supporter (no worries, not asking for money here)?

Reach out to us (email, social networks, personal meeting…), help spread the word towards parties which might be interested in making Europe a business powerhouse again — individuals, communities, academic institutions, research institutes, corporations, public institutions and others.

And let’s get to work!

 


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- Comments Off on Why Do We Do hD42 — Why To Start Again (Journal No. 1)

Why Do We Do hD42 — Why To Start Again (Journal No. 1)

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Short answer; we think some things are broken and we have a vision how to fix them. The vision is grandeur and yet so simple; We want to Make Europe Great Again! and we believe many of you do want the same thing.

Europe has history of entrepreneurial and research talent with global impact. Let’s just remember names like Tesla, Skoda, Einstein, Marie Curie, Bata, or more recent Tim Berners-Lee, Vichterle or Roman Stanek….great innovators with global impact.

But over the past decade or two Europe has been slowly losing its entrepreneurial spirit and almost resigned on global commercialization of it’s great research and ideas. Just go to any entrepreneurial event and listen to young people pitching their business ideas  —  just a few can use university know-how to create spin-offs, almost nobody thinks about going global first, very few think directly about crossing borders, hence almost non-existent startup unicorns, broken IPO market and overall relevance of high-tech companies based in Europe for global technology landscape. And if someone makes it through this, they sell to the first good looking bidder.

This is not acceptable for us! We want Europe to be again great place to innovate, start business, build global business and live. All that not only today but 50 or 100 years from now.

Our mission is to unlock commercial potential of European innovation so our kids would not feel it’s necessary to leave for Silicon Valley in case they want to successfully develop global idea. They can but it should not be a must. Europe shall not become place of only interesting history, old architecture and marginal innovation.

We cannot do it alone but we can catalyze the process and join forces with you! That’s why we are putting all of our previous business experience & successes on the starting line and we are establishing hDock42 as “a European launchpad for hot ideas which need safe Dock to grow and develop”. We call it launchpad because we see hDock42 more as an open platform to support above mentioned goals and vision, rather than just our company. It’s not just about our projects, our companies, our funding — it’s about uniting Europe wide ecosystem, about crossing boundaries, industries and areas of expertise.

As we just said, we will not do this alone. We will partner with You and other like-minded people, companies and institutions; count in research institutes, universities, startup accelerators, incubators, innovation communities, technology groups, public institutions and anyone who is willing to help us knock down barriers which prevent innovators and entrepreneurs from thinking and expanding globally. Let’s Make Europe Great Again!

Our ultimate goal is to make Europe net exporter of commercial successes. Global commercial success of European entrepreneurs and research means more capital and skills flows back into innovation projects, R&D and commercialization within Europe and that will be the moment when the innovation loop will start growing fueled by it’s own energy….

That’s when we will say; “Mission Accomplished” 🙂

 


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