The survey, combined with a questionnaire survey, showed us that the market potential for their product is higher than hundreds of companies, some of which, about 30%, are relatively conservative types of customers who are relatively resistant to any type of digitalization in their company. This would make the sale of the product itself longer and more difficult. The company ultimately decided not to go into development and to continue offering the product as an individual, tailor-made solution.
The entire survey cost less than hundreds of thousands of crowns and generated 10 leads. Before the end of the survey, 2 companies were in the business negotiation phase. The investment in market research protected the company from losing several million crowns .
3. When and how to combine market research and customer analysis
However, if it turned out that the market was large enough and the company decided to develop a product , we would proceed with customer analysis . Thanks to the data and information from the previous survey, we already had the basis for quality segmentation and it was easy to determine who our ideal customer is. That is, the person in the company who, as a salesperson, you need to be able to buy into cambodia email list in order to sell your solution to the company.
In this case, we would use the in-depth interview method . Their goal is to find out as much as possible about the person and personality of your customer. To map him not only as a person, but especially to describe in detail his purchasing process according to the STDC framework. This procedure will help you, among other things, to reveal the customer’s motives for purchasing , on the basis of which he makes decisions the most important features of an influencer marketing when choosing a product (service), but also the supplier itself.
4. How customer analytics increases company revenue
This is how I proceeded with a How market research manufacturing engineering company in the Tábor region (I cannot disclose its name, but I will provide you with the contact information if you are interested ), which was not entering a new market, but needed to better understand its existing customer . The analysis provided a whole set of recommendations, and one of the most key was: to introduce regular servicing and replacement of spare parts depending on the operating time of their machines . I recommended denmark business directory a system that is essentially similar to that used in aviation.
The company has an annual turnover of approximately 250 million CZK . Service and spare parts accounted for 10% of the total turnover . 3 years after the introduction of regular service and replacement of spare parts, it increased to 30% of the total turnover. The company thus increased its turnover by 50 million CZK every year on this service alone . The analysis of their customer cost them tens of thousands of crowns. This investment paid off very quickly and has now been successfully earning for several years and has also contributed to the financial stability of the company. You can download the case study here .