The benefits of survey research and how online platforms can make the research process more efficient and effective

Surveys remain one of the most popular forms of market research, and consequently we regularly work with customers on large survey-based market research projects. Most commonly this is customer satisfaction surveys, and these can be one of the most valuable forms of data that a company has. We also have clients who conduct broader market research, going beyond their own customer base in order to learn more about a particular market or segment in which they are interested. Of course surveys are not the only way you can find out what your customers think. Sometimes they’ll tell you what they […]

What do your customers care about most? Using key driver analysis to find out.

After basic significance tests, T-tests, Z-tests and so on, key drivers analysis (KDA) is probably the second most popular statistically-based technique in market research. Given an outcome of interest a KDA gives us a measure of the relative importance of a set of attributes (potential drivers).Typical outcomes of interest in research are: Satisfaction – customer, employee etc. Purchase intent – how likely a customer is to make a purchase How likely a respondent is to recommend a product or service (sometimes known as a Net Promoter Score) Intent to switch or cancel This isn’t an exhaustive list and outcomes can be stated or observed (through other data sources like transactional databases) where […]

Assessing the value of your customers

Moving beyond RFM analysis to create truly data-driven customer segments RFM stands for recency, frequency, monetary value and is a method for calculating or assessing overall customer value.  Its most common use is in direct marketing or database marketing and it is particularly heavily used by retailers and charities. RFM analysis is predicated on the idea that your most valuable customers are those who spent most recently, who spend most often (frequency) and who spend the most (monetary value). Most organisations hold this kind of data about their customers which makes RFM analysis relatively accessible and easy to do. Typically […]

How real is real-time offline advertising?

Real time advertising is a hot topic right now. Over the last few months I’ve read a growing number of articles about how advertisers will soon be able to target their customers in real-time. Of course real-time advertising is nothing new online, what’s new here is the possibility of being able to do it in our offline lives as well. Just this last week Tesco was in the news. It has been testing the use of facial recognition systems to target interactive poster advertising based on gender. It seems we’re not a million miles away from the kind of personally […]