Questions that we answer
Who are customers
93% of the Fortune Top500 companies continuously learn about their actual and potential customers. This makes the difference when building successful marketing strategies. No matter whether you trade in B2B or B2C markets, we can bring new or expand the existing knowledge about your actual and potential customers. We can create consumers’ and customers’ socio-demographic, psychological, lifestyle and behavioural profiles, and profile them into various market segments using the finest analytical tools known to modern science. If you are a B2B oriented company, we can identify and profile your potential customers to show their size, a number of employees, annual turnover, growth trend, strategic orientation, decision-making infrastructure, key suppliers and any other relevant business parameters
What do customers think
If you need an insight into your customers’ opinions about any matter of your concern, we can ensure engaging surveys that will get you the required inputs but also reinforce your relationships with your customers. We can also conduct surveys and polls of your employees, website visitors, suppliers and any other stakeholders important for your business and decision making
How do customers behave
Behavioural data tells a precise but not a very detailed story about your consumers. This is why the majority of our clients choose to extend this data through surveys and interviews with an aim to get an insight into customers’ behaviour patterns that go beyond what is visible to business. We can identify customer behaviour mechanisms that are important for value creation, satisfaction, good word of mouth, loyalty and repeated purchase.
What customers want
This is a “million pounds” question. Using both quantitative and qualitative research methods, including neuromarketing, we even bring out reactions respondents are unable to articulate. This is especially important for capturing the true, verbally non-biased responses to what the respondents they have seen, heard, touched, tasted, felt, smelled etc. Through a set of experiments, we can ultimately discover what switches the “buy button” on or off in your case and help you become a powerful marketer
Are there different types of customers
We strongly advocate the data-driven market segmentation. Our experience shows that behavioural factors such as recency, frequency and monetary value of your customers’ purchases serve as a sound starting point for the segmentation process. We, and majority of our clients, prefer expanding this set of variables with attitudinal and socio-demographic data with an aim to get a broader understanding of different customer segments, an understanding that goes beyond what is visible to your business. This in turn gives a logic (algorithm) for classifying new and existing customers, informs marketing strategy and assists marketing and sales staff in serving customers efficiently. Also, knowing what type of customers are the most attractive to your business, as well as how to identify them, allows you to take the most out of your marketing budget and increases return on your marketing investments.
How to improve my product or service
Those who use it know the best. This is why consumers have to be asked first. In order to establish a multi-layered full circle review of your products or services, we prefer mixing methods to get clear and thorough idea of your customers’ experiences. Your customers, if carefully selected, can be your best consultants. Why not finding out which areas of improvement to priorities and the ideas crowdsourced from your customers?
How satisfied are my customers
Satisfaction is one of the key marketing performances marketers seek to measure. However, in the vast majority of cases, both researchers and clients ignore the multifaceted nature of this phenomenon. We prefer going into details and discovering which aspects of your marketing mix, shopping experience and customer service are your best or worst friends. When it comes to loyalty we can establish how attached are your customers to your brand as well as how often they repeat purchases. Based on these factors, we develop 4 profiles of customer loyalty and help you build strategy on how to turn your latent/inertia loyalty customers into premium loyalty customers.
How to optimise my offering
You probably have a number of alternatives on the each element of marketing mix but you are not sure which combination would be the biggest market success. We can solve this empirically and tell the likelihood of the market success of different marketing mix alternatives you are thinking about. What’s even better we can even find the mix that you haven’t considered but according to customer insight that particular one would be immense success. If you do not have alternative options for different elements of marketing mix, no worries – we can generate these through primary research.
How customers see my brand
Using different dimensions of brand identity and customers perception of different brands against these, we can create a set of perceptual maps that will show how your brand is positioned against its competitors. This is very important strategic tool because it gives an idea whether and how strongly is your brand distinctive from competitor’s brands and what might be the course of action for managing your brand’s future.
What are market trends
We can provide market trends and tell you how big is the market in both units of output and money. We can tell you about year by year market growth rate and average industry profits. We can help you to get to know about entry barriers, political, economic, legal, technological and environmental forces of a particular market environment. Our panel of experts will also provide you with the lists of the opportunities and threats of the market you should consider. Particularly well we know UK, USA, Canada, Australia, Serbia, Croatia, Bosnia, Montenegro and Sub-Saharan Africa.
Who are competitors and what are their market shares
We can provide you with the complete list of your direct and indirect competitors, with their turnovers, number of staff, specialities, registered brands and patents, unique selling propositions, contacts and most importantly current market shares.
What is the growth rate of the market/industry
Market growth rate indicates the maturity of the industry and can serve as a signpost to what strategies might be the best for a particular situation you are facing. We assess market growth by looking what happens with the annual turnovers of all competitors in the industry. On this side you can expect to get market dynamics in the past 8 years as well as the forecast for the next 5 years.
What do I need to know about market I consider entering
We can help you get to know about entry barriers, political, economic, legal, technological and environmental forces of the macro-environment of your interest. Particularly well we know UK, USA, Canada, Australia, Serbia, Croatia, Bosnia, Montenegro and Sub-Saharan Africa.
about data and methods
What questions to ask in my questionnaire
Building an effective questionnaire is both mix of art and science. We have extensive research acumen and are able to tell which types of question in your research will deliver, and which not. We know how the questions should be ordered, how long the survey should take and what kind of rewards work the best. Our experienced researchers will help you tailor the survey questions so that you get high quality information and response rate in the shortest time span.
How to improve a questionnaire
Having an optimized questionnaire means minimal efforts for your respondents and high amount of usable information collected quickly. We optimize questionnaire taking into account number of factors: the target population, administration method, rewards, time and place of surveying and above all what do you want to get out of your research. The process of optimisation means that you already have a draft that needs expert’s revision. We will ensure that your questionnaire asks the right questions that are set in proper order, with the fewest words possible, shortest eye path, with no ambiguous or complex words and finally with low fatigue score. Before you take your new questionnaire out, we will conduct a pilot testing so to ensure that the questionnaire performs just as promised.
How to clean already collected data
The quality of your findings ultimately depends on the quality of data. They do not say for nothing “garbage in analysis, garbage out of analysis”. No matter how the data was collected and handled, errors are inevitable. Some of the errors come from respondents, survey administrators or even the instrument used. We can identify and remove cases of false responses, straightlining, Christmas tree responses, sloppy or lazy responses, nonsense and redundant responses, responses that took too much or too little time and responses that do not match your target respondent profile. Our 10 step in house developed procedure will give you a dataset cleaned from all detectable noise ready for analysis from which you can infer having with a piece of mind.
How to get a maximum out of existing data
The science is progressing very fast and staying at the top of the rapid progress of analytical is more challenging than ever. Our awarded data scientist and reputable university scholars will squeeze out all the knowledge from your data and go an extra mile to provide you with an insight that cannot be obtained through traditional analytical methods.
How to predict customers’ next move
Once we establish the behavioural mechanism of your customers, our machine learning experts can develop a predictive algorithm that can indicate what your customers, both as individuals and as a group, are most likely to do next. This can give you a clear idea about what to offer to different customers, where and when. The algorithm can also flag those customers that are most likely to churn, thus giving you extra time to prevent customers leaving you.