Intro to Conjoint Analysis and MaxDiff: How JetBlue Learns What Passengers Really Want
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Finding out what your customers are feeling is pivotal for knowing what decisions to make. Maya Angelou said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” This holds true in business. Learn how JetBlue’s Jim O’Brien has used conjoint analysis and maxdiff to help JetBlue understand how their customers are feeling and use that information to build a world-class customer experience program. In this presentation, Qualtrics’ Craig Lutz teams up with Jim O’Brien to introduce you to conjoint analysis and its value. You’ll learn: How to conduct a professional conjoint analysis The different use cases for conjoint analysis What outcomes to expect from your results How to take your results and turn them into action
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Intro to Conjoint Analysis and MaxDiff: How JetBlue Learns What Passengers Really Want
- 1. Introduction to Conjoint Analysis How JetBlue Learns What Passengers Really Want Qualtrics and JetBlue
- 2. Craig Lutz Consulting Services Lead Qualtrics Jim O’Brien Manager, Customer Insights JetBlue Airways Speakers
- 3. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 4. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 5. When we have a product/service that consists of a combination of features Hotel room offering is a combination of many features or attributes Cleanliness Breakfast included Balcony/View Wi-Fi included COST Conjoint Analysis
- 6. Conjoint Analysis Wi-Fi Free /w room Not Included Breakfast Buffet Not Available Room Service Included Price $99 per night $150 per night $250 per night $500 per night
- 7. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 8. Types of conjoint analysis Choice-based conjoint analysis Adaptive choice-based conjoint analysis Self-explicated conjoint analysis Menu-based conjoint analysis MaxDiff (the cousin of conjoint analysis)
- 9. Choice-based conjoint analysis Most common approach Discrete choice Models real-world decisions we make everyday VS
- 10. Adaptive choice-based conjoint analysis Can handle large feature sets Combinations adapt based on previous selections Survey gets ‘smarter’ as you progress
- 14. Self-explicated conjoint analysis Direct questioning about features & levels Deconstruct the packages into individual parts 101
- 15. Menu-based conjoint analysis Allow respondent to choose their own package Useful when it models the real-world experience (phone plans)
- 16. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 17. Conjoint Analysis Steps: Determine the feature set to test Experimental design Survey programming Collection of responses Analysis & reporting
- 18. Features to include Wi-Fi Free /w room Not Included Breakfast Buffet Not Available Room Service Included Price $99 per night $150 per night $250 per night $500 per night
- 22. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 23. Conjoint Analysis We understand how important each feature is We understand how preferred the levels are within each feature
- 24. Conjoint Analysis Features Importance Score Level Level Preference Share Cleanliness Extremely Clean Moderately Clean Not Clean Breakfast Not Included Buffet Room Service Included Balcony Included Included w/ great view Not Included Wifi Free w/ room Not Included Cost (per night) $500 $400 $249 $179 $99 27% 11% 4% 19% 39% 93% 6% 1% 10% 45% 45% 35% 45% 20% 75% 25% 5% 10% 25% 25% 35%
- 25. Conjoint Analysis When to use conjoint analysis? Types of conjoint analysis? How is it conducted? What output do you get? What is the value?
- 26. Conjoint Analysis Closely models real-world decisions, we get highly relevant data Simulate how product configurations will perform in market
- 28. JetBlue - Conjoint Credit card loyalty programs are perfect for conjoint analysis FEATURE LEVEL 1 LEVEL 2 LEVEL 3 APR 5.99%-9.99% 9.99%-14.99% 14.99%-21.99% Mileage Bonus 15,000 20,000 25,000 Blackout Dates None Major Holidays Weekends and Holidays Free Bags 0 1 2 Minimum Spend for Bonus $0 $1,000 $3,000 Conjoint attributes are example only – not indicative of actual scenario
- 29. JetBlue - Conjoint Which card is best? Card APR Free Bags Blackout Dates Minimum Bonus Spend Mileage Bonus A 10.99%- 15.99% 0 None $3,000 50,000 B 15.99%- 20.99% 2 Holidays $5,000 25,000 C 10.99%- 17.99% 1 Weekends $2,000 15,000
- 30. JetBlue - Conjoint Differing priorities FEATURE APR APR 150% Free Bags Nope Blackout Dates Every day but the second Tuesday in September Minimum Spend for Bonus $100,000,000 Mileage Bonus 12 Miles Evil Corporation Ideal FEATURE APR APR No interest. Ever. Free Bag Refrigerator boxes too! Blackout Dates Never Minimum Spend for Bonus Free Mileage Bonus One Krazilion Customer Ideal
- 31. JetBlue - Conjoint What is most important to the customer? How can the mix be changed to balance the interests of both parties? FEATURE IMPORTANCE APR 32% Mileage Bonus 20% Annual Fee 18% Free Bag 16% Minimum Spend for Bonus 14% Can’t budge Some leeway Some leeway
- 32. JetBlue - Conjoint Change features to compensate for others FEATURE LEVEL APR 5.99%-14.99% Mileage Bonus 15,000 Blackout Dates Major Holidays Free Bags 1 Minimum Spend for Bonus $5,000 FEATURE LEVEL APR 14.99%-21.99% Mileage Bonus 25,000 Blackout Dates Major Holidays Free Bags 1 Minimum Spend for Bonus $2,500 Customer Ideal APR Possible APR Same adoption as
- 33. Mistakes of Conjoint Analysis Including too many attributes/features Unclear on goals at onset of project Sample size too small
- 34. Qualtrics Professional Services Contact Information Craig Lutz Craigl@qualtrics.com Consulting Services Lead Qualtrics
- 35. Q & A