Applied Analytics Analytics that Mirror Your World
Sound market intelligence is the basis for understanding the client's target market and qualifying their position and unique strengths within it. Success in applying that intelligence is linked to understanding the client's business culture and goals.
Building on this understanding, research at Brandywine falls into two categories, Statistical Research & Modeling and Qualitative Research. Each of these approaches is positioned to help better understand the client's niche and build acquisition and retention solutions.
We work with our clients to take the findings from this research and apply it in two directions. First, at the foundational level by overlaying with tactical actions and results; second, at the highest level by reevaluating strategic business and marketing directions through the microscope of market intelligence.
Depending on the needs and budget of the specific research study, using our proprietary systems we compile client data with direct and purchased information and blend it with public domain data to develop a complete dataset. This allows us to optimize the demo acquisition investment and to develop reliable, and sustainable, segmentation profiles and models. Such models typically focus on lifetime value, consumer characteristics, and population migration.
Examples of how this market intelligence has helped our Clients include:
Measuring market share and penetration
Forecasting market shifts
Tracking new/lost customers geographically and demographically
Determining optimal locations for new agents/locations
Testing market potential for new up-sell/cross-sell opportunities
Prospect acquisition and customer retention
Evaluating campaign effectiveness and return on marketing investment
Demographic Trends Modeling and Analysis Analyzing the Past to Predict the Future
Whether the goal is to better understand the customers you currently have or to determine where to find your next 'best' customer, developing a strong understanding of the changing demographics of your market is a keystone to success. Likewise, if you are planning to add or move physical locations the key to long-term success is knowing how the local market will look, and think, down the road.
As a core element of its insight resource, Brandywine has developed and fine-tuned proprietary models built on rock-solid public-domain data sources, such as the decennial census and on the intermediate updates and technical and analytical reports. These models are continually enhanced with third-party information that adds dimension and depth to the core data.
Brandywine uses these models to map trends in population shifts, in core attitudes and norms, and in buying preferences and habits.
These models are updated semi-annually and form the basis for discrete targeting and for specialized enhancement with psychographic and client-supplied data.
Statistical Research and Modeling Important Things We Can Tell You About Your Customers
Acquisition models provide an extremely effective tool for maximizing marketing investments and responses/prospect conversions. We develop these models with two purposes. The first is to quantify the potential response and to predict the responsiveness of various clusters of prospects. The second is to actually drive the selection of targets and their assignment to targeting cells (different messages/different offers/different vehicle). Typically these models are created at the macro level for a campaign, and replicated at tactical levels for specific marketing efforts within the campaign. These models generate the benchmarks for measuring effectiveness as the campaign rolls out.
Retention models are predictive models (based on time studies of customer purchase patterns in relation to product characteristics, customer life stages, market influences, etc) to determine which customers are most likely to be interested in purchases of new products or services (both as an extension and in a cross-sell mode). These models provide the information needed to design retention campaigns and to select targeted customers.
Qualitative Research Important Things Your Customers Want to Tell You Themself
Surveys are planned and conducted through one or more channels (direct distribution, direct mail, e-mail, internet, and telephone). Since these methods are more costly approaches to information gathering, they are normally conducted on smaller target groups and follow some level of statistical research. While statistical research identifies broad trends and situations, qualitative research primarily focuses on specific attitudes and issues.
Our role in qualitative information gathering regularly includes the conceptual and final design of the surveys; implementation and fulfillment; post-response analysis and interpretation; and finally, the incorporation of these findings into the Client's marketing databases.
When conducting Focus Groups is appropriate, we utilize our preliminary research to define the specific information goals and group outline, and to drive the selection and solicitation of prospective participants.