This is the sixth in a series of findings from Data Decisions Group’s 2022 Medicare Preferences Study. We expl...
Data enhanced marketing research enables you to use multiple, disparate sources of data to give you both broader and more in-depth insights into the customer and third party data you use. When data lacks context, your data loses value. Full service marketing research allows you to act on your data in ways that drive more engagement, improve marketing relevance, and acquire more customers.
DDG lives at the intersection of attitudinal information, behavioral data, and
Using the 256 million records of consumer data we maintain, data from our clients’ data warehouses, and from other sources, we deploy sophisticated analytics to understand what consumers did. Then we use
Marketing campaigns fall flat if they’re not directed to the right individuals. Consumer segmentation (attitudinal, behavioral, or needs based) is the first step towards determining which target audiences will make the most sense to achieve your goals.
As you segment your target audience, you also need a clear understanding of your market, competitors, and emerging trends. From here, you can begin formulating a strategy.
DDG supports and enhances direct marketing campaigns through thoughtfully-constructed research specifically tailored for your marketing campaigns to increase their effectiveness. We find data to supplement — or append/augment — what is available, so you can predict not only how a person would behave, but what motivates those behaviors. From there, you can create more powerful messaging. Your marketing campaigns are more effective because the messaging is meaningful to your intended audience. It’s all about relevance.
We combine the information gathered through our custom surveys with other data sources. For example, we may fuse data from a consumer’s digital footprint (i.e. website or social media engagement), offline activity (call centers), transactions, and more.
To narrow down wide-ranging options like sizes and packaging of a product’s container or flavors of a new line of yogurt, we use methods like MaxDiff Scaling to provide clear, empirical differentiation between all the consumers’ options.
We often suggest discrete choice modeling applications like conjoint analysis to measure what consumers will trade off for price considerations. We use latent class segmentation analysis to determine how different groups of consumers base their purchase decisions on the different aspects of the product.
This is the first step in a coherent research program — one geared towards providing the information to build brand awareness and usage. We analyze the position of your brand compared to competitors in specific categories. We look at factors such as brand loyalty, barriers to entry, and key drivers of purchase. Ask us about our “Market Inventory.”
This research enables you to find attributes that make your brand successful, identify risks with your products, and expose holes in your competitor’s product offerings. This is most often used for products already on the market. Ask us about Key Drivers Analysis.
Using a form of discrete-choice modeling research known as choice-based conjoint (CBC), we help you determine which potential configurations of your product will be most successful among your target audience in terms of sales, revenue, and profitability. For example, a specific product configuration of package size, flavor, product claims, and price might not be configured for the broadest appeal, but the highest yield of profit. A combination of CBC modeling and consumer segmentation helps determine how your target audience will react to specific attributes. Ask us about Adaptive Choice Based Conjoint for complex product/price configurations.
We use a number of methods to determine how consumers react to price adjustments. Van Westendorp Price Elasticity Modeling provides the range of prices consumers expect to pay for products, while conjoint analysis measures price tolerance given various alternative options. Finally, experimental design-based methods can give hard estimates of how many consumers will buy products under various price options. Ask us about which method is right for your product.
When you can accurately derive trends from your data or predict how a segment of people will react to specific messaging and products, you have incredible power at your fingertips. Use this power to build campaigns and speak to people rather than at people.
To learn more about our predictive data platform Reach, click here.
Here are just a few ways data models can be applied:
Your business performance is only as good as your ability to access your data, understand your data, and act on your data. Our business intelligence solution allows you to react in real time to trends and update campaigns accordingly.
Here’s what you can expect from our business intelligence offering:
This is the sixth in a series of findings from Data Decisions Group’s 2022 Medicare Preferences Study. We expl...
This is the fifth in a series of findings of Data Decisions Group’s 2022 Medicare Preferences Study. Here, we ...
This is the fourth in a series of findings of Data Decisions Group’s 2022 Medicare Preferences Study. Here, we...
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