Market Research

Whether you are looking to determine new product offerings or develop a personalized marketing campaign, customer segmentation is the principal basis for allocating resources and extracting maximum value from both high and low-profit customers. Our experts use both demographic segmentation data and advanced clustering segmentation techniques to:

• Conduct market segmentation to unveil meaningful and measurable segments or microsegments according to customers needs, behaviors, demographics and social profiles
• Determine the revenue potential of each segment and target segments according to their profit potential and the ability of your company to serve them
• Obtain a complete customer profile to help predict future behavior through a 360° customer view
• Use target market analysis to tailor products, services, marketing and distribution stategies to match the needs of each segment
• Measure performance of each segment and optimize your segmentation approach over time

Delighting your customers requires building customer profiles that leverage a wide variety of data across multiple channels. This multichannel marketing uses a mix of customer profiles, historic data, real-time events, loyalty programs, social interaction, online behavior and presence to drive predictive analytics and customer insights. By learning where, when, and how buyers are most likely to shop, and which offers and products will appeal to them, you can determine product offerings and personalized marketing campaigns to extract maximum value from both high and low-profit customers. You can optimize your marketing mix, driving channels and redefining customer relationships. The primary goal is to deliver the right experience at the right time using the right channel. Here are some of the applications:

We can quantify the potential value of all marketing inputs and use predictive analytics to identify marketing investments that are most likely to produce long-term revenue growth.

• Use predictive analytics to optimize future marketing investments and drive growth in sales, profits and market share
• Balance short-term marketing and promotion tactics with long-term brand building needs
• Understand marketing ROI for each offline and online media channel, campaign and execution (i.e., search vs. circular vs. TV)
• Optimize allocation of traditional media vs. digital media and determine the synergies between the two with marketing mix modeling
• Quantify the value and impact of emerging/new digital media (Facebook, Groupon, Foursquare, mobile apps, etc.) with a personalized digital marketing strategy
• Lock into the right marketing mix by region, country and ?go-to market? channel
• Determine which media vehicles and campaigns are most effective at driving revenue, profits, share and consumer segments
• Quantify the ROI of improving marketing effectiveness in terms of sales, profits, share and target consumer growth

Whether you are a small, medium, or large enterprise (or private, public, or NGO), the chances are that you are doing more than one type of promotion marketing – from email campaigns, to paid search (cpc), to social media, display advertising and also offline channels like TV, radio, billboards, and print. It is very difficult to know which channels, campaigns or sequence of touch points contributed to qualified conversions and sales. By using attribution modeling and performance attribution, marketers can know what triggered each response, so that they can assess whether or not their marketing efforts are getting the best results.

Some of the more rudimentary attribution modeling techniques use the “last click” approach to assign credit, but given the multichannel user experience that is typical of the purchasing path, that model is simplistic and does not reflect the consumer’s behavior. Other models divide credit equally among all touchpoints with which the consumer engages. Those models also do not accurately weigh the impact of each channel.

Our experts can build models that use attribution analytics and sophisticated algorithms to sort out the effect of each form of advertising and assign credit to every touchpoint in a campaign lifecycle. We calculate the impact of ads at different stages of the purchase process, which might begin with a display ad that generates brand awareness, continue with a keyword search, and proceed through conversion (purchase).

Production portfolio management optimizes the product mix being marketed to maximize revenue potential. Experfy’s experts help you understand which product combinations are being purchased together by your customers, and in what sequence. Understanding the product combinations and the strength of these relationships is valuable information that can be used for cross selling and upselling, offering coupons and promotions, and making recommendations. Portfolio optimization starts from the analysis, the aim of which is to collect necessary data to determine the potential as well as the strengths and weaknesses of particular products. The analysis is multidimensional (market, strategy, finance, product potential, sales channels), including the shopper (decision tree, consumer behavior) and merchandise planning (placement on the shelf, brand strength, share in the category, etc.).

The analysis gives us hard data, based on which we formulate conclusions and recommendations. We indicate, among other things:

• How to exploit the potential of the strongest products (higher margin, higher turnover)
• Which products may be withdrawn (low potential, unprofitable products)
• How to optimally place goods on the shelves at various points of sale (product placement, shelf storage)
• How one can improve indicators, including the rate of sale (ROS)

Brand equity is a set of brand assets and liabilities linked to a brand name and symbol that impact value provided by a product or service. Brand Equity has several dimensions like brand awareness (strength of brand in consumer’s memory), brand image (consumer perception and preferences for a brand), customer-perceived value and brand association. By integrating customer survey data and predictive modeling, our experts can identify optimal routes to build strong brand equity and help you address the following:

• Demonstrate the impact of strong brand equity – in terms of market share, customer acquisition, brand loyalty and other desirable outcomes
• Develop a single measure of brand equity that can feed into management scorecards
• Determine the impact of all business drivers (marketing, economic, competition, operations) on brand KPIs and sales
• Understand the effect of change in brand KPIs on other brand KPIs and consumer behavior
• Calculate the financial value (ROI) of a change in brand KPIs
• Find the right marketing mix to drive brand objectives
• Determine the future impact of a change in the marketing and messaging strategy
• Map your brand’s equity against that of key competitors to help you stay one step ahead
• Establish a reliable and valid framework to pulse the health of your brand over time