Markets & Customer Tracking
“How’s business?” That’s a question that’s exceedingly difficult to answer for most of us who sell into complex markets with complicated structures consisting of diverse customers. What might look like good performance in aggregate betrays the hidden problems in this complex market your business works in. Perhaps your overall share of the market increased and it looks like a positive outcome, but it may be hiding the problem that there have been significant market share losses among your most profitable customer base.
At The Stevenson Company, we have the experience and expertise to develop and implement the market and customer tracking tools you need to really understand what is driving your business performance. Whether you need to measure market shares for your sales, measure your brand performance, track attitudinal beliefs and behaviors, establish profiles of how consumers purchase and track those behaviors, or develop and track ways consumers like to choose styles of fashion and design, we have a solution for you.
Our approaches use the process of identifying distinguishing behaviors, needs, characteristics or thoughts among the various dimensions of your markets with the purpose of delivering not only measures of performance, but direction for developing next steps. Our belief is that the results need to be actionable and that is why we call our efforts in categorizing customers and consumers Dynamic Segmentation. Much of the philosophy behind our dynamic segmentation approach feeds into the ways we handle other profiling and tracking initiatives. Developing the best way to define and track your performance can utilize any of the following.
I. Dynamic Segmentation – not simply a one-dimensional approach but one that ties your business into the defined segments and allows for measured results when you take action.
II. Purchase Patterns – measuring who is buying your brands and products compared to the competition needs to be dynamic and actionable.
III. Design and Fashion Profiles – not all products are designed and fashioned for the entire market. Knowing that your product appeals to the right target audience is a key facet of our new product development research.
IV. Usage Pattern Profiles – how customers use your products and how they see them in their lives are important elements to understanding how to better design, market and distribute your products.
V. Behavioral Patterns Profiles – how consumers behave around a particular event or their thoughts in going about their lives are important in understanding how to reach them with appealing communications or product offerings.
VI. Opportunities Identification & Assessment – one of the most important outcomes from the aforementioned segmentation and tracking methods is the ability to identify opportunities and gaps for new product exploration.
Whatever your market and customer tracking needs might be, The Stevenson Company has a rich history of experiences designing, developing and implementing programs to better measure your performance.
For more information, contact us at 502.271.5250 or via email.