Markets change quickly. Customers, buyers, and influencers are demanding. Traditional research is biased, slow and costly. Qualitative efforts don’t sync with quantitative data. MavenMagnet addresses these issues by providing a solution to understand your brands and customers in depth with statistical precision and in less time. We have done studies to analyze specialized segments such as procurement officers, buyers of niche products, contractors, SMEs using projectable sample sizes. Some recent examples:
An office supply company wanted to understand purchase preference and drivers among a broad cross section of buyers and influencers: procurement officers, office managers who made the purchase decision, and employees who used their products. Procurement officers were hard to recruit for traditional research and the client needed to have a cross section of industries represented, thereby making traditional research cost-prohibitive. While we providing an in-depth understanding of the purchase drivers, a major cause of customer dissatisfaction/account loss was discovered. The policy was changed as a result of the research insights and on-going tracking of customer attitudes was established.
A major manufacturer of industrial printers needed to understand why it was losing ground to its competitors. Traditional research did not uncover any quality or feature deficiencies. In fact, there was higher customer satisfaction. Our research uncovered a major, long-standing mistake in their program. A key competitor had moved to offering a longer warranty period while our client was offering a very generous rebate. Perceived disparity in value was dramatic. The extended warranty which had an exposure cost of less than $200 was perceived as far more valuable than the $500 rebate. The promotion was changed to provide an enhanced warranty program vs. competition and the rebate was dropped. Our client's perceived superior quality because of the warranty resulted in a significant increase in sales. The discovery component and cost efficiency resulted in an ongoing tracking program.
We helped a large testing and certification company improve their TAC brand preference by identifying the key process issues for a broad cross-section of industries. We analyzed conversations from decision makers and influencers in mid and large scale companies. Cost was a qualifier and not a differentiator. The key reason for TAC supplier preference was legal and regulatory compliance. Brand preference was created by certification lead time required and in-depth understanding of, and speed of, identifying regulatory changes. The company knew of these issues but had no measurement of their impact relative to other brand preference/purchase drivers. The sales pitch and collateral support materials were changed to highlight the superiority our client had in these areas.