Q: Our client says they already know their audience segments. How will this research help us?
A: Believing and knowing are two different things. While your client (or you) may see traits within their audience that seem like differentiators, it could be that those factors aren’t actually affecting purchase decision. Or you could be assuming segments based on a single factor — company size, or household income, for example. Multivariate factor analysis will identify the group of factors that are truly responsible for the key differences between your audience segments — allowing you to base your strategy on on facts.
Q: Why haven’t I ever heard of this kind of research before?
A: Weird, right? The fact is that, until recently, only the largest consumer products companies were incorporating multivariate attitudinal segmentation analysis into their decision-making. Even 15 years ago research of this kind could cost upwards of $250,000 to conduct, and results weren’t available in less than 9 months. What changed? Three things: 1) The development of online survey functionality, allowing surveys to be developed and executed quickly and inexpensively; 2) The democratization of internet access, allowing virtually all potential survey respondents, regardless of income, age or geography, to participate in online surveys and communicate with brands; and 3) The exponential growth of computing power, allowing complicated, data-heavy statistical analysis to move from large university-based computer facilities to our laptops. Because this research is so (relatively) new, most companies — and certainly most marketing agencies — don’t even know it’s an option for them.
Q: This stuff is complicated. How am I supposed to sell it to clients when I barely understand it myself?
A: Leave it to us! We happily participate in your pitch process, and can provide content for proposals, join conference calls, or answer questions that come up during your sale.
Q: How can we structure your relationship with our agency and our clients?
A: We’re very flexible. Some clients introduce us as a third-party provider. Some incorporate us as a member of their agency team. Some agencies prefer that we manage the day-to-day interaction with the client during the research process, others serve as the project manager working between us and the client. Some clients continue to engage us after the research to help with strategy development, others are very comfortable working with our findings to proceed on their own. You tell us what you need, we’ll find a way to help.