PRIMOSE’S Marketing analytics was conceived and developed by PRIMOSE’S’s team of data science leaders—leaders who not only specialize in marketing analytics for a living, but who have also spent a good part of their careers working on the client side of business intelligence. PRIMOSE’S Marketing™ analytics is not a static short-term project with a set end date. Rather, in partnership with your marketing team, our marketing analytics consultants plan, design, and implement a marketing analytics program within a sustainable data-driven environment, providing ongoing service and support to promote better performance, efficiency and more nimble responses to changing dynamics. Enterprises can now more precisely calculate customer sentiment, correctly spot new trends, or use data-centric research to increase brand or product awareness on a continuing basis.
PRIMOSE’S Marketing™ analytics’ focus areas include but are not limited to determining:
- market size, forecasts, trends, and segments
- brand awareness, preference, and loyalty rates
- pricing and purchase dynamics (see Primose Price optimization service)
- product/service concerns
Toward that end, our Primose Marketing analytics service leverages the following
- Assessment tools to gain insight:
- Segmentation analysis
- Statistical regression analysis
- Social network analysis
- Machine learning and pattern recognition
- Trend/time-series econometrics
- Customer-level profit analysis (see PRIMOSE’S Churn™ optimization)
- Potential assessment and planned migration (see PRIMOSE’S Churn™ optimization)
- Scenario/sensitivity modeling
- And others…
Because this service is ongoing, Primose Marketing analytics involves periodic evaluations to measure effectiveness, with improvements and adaptations as necessary to maintain viability. Customers who experience concrete results can also add our ompetitive intelligence service. This companion service takes these sophisticated marketing analytics to the next level by further measuring how their business stacks up against the competition in terms of organizational structure, products, pricing, and marketing strategies.
Primose Competitive intelligence is part of our advanced, precision marketing initiative, tapping into our marketing analysts’ years of data science expertise and hard-won wisdom acquired from extensive work on the client side of the equation. What makes successful businesses tick? In many instances, it’s not clear why some businesses take off and other businesses with similar goods or services struggle. With our Competitive intelligence service, enterprises now have the mathematical means to find out why, and determine how they can stay in the game and shape a more profitable destiny.
Our intelligence techniques is builds on our Marketing analytics service, augmenting previously established research/analytic capabilities to more accurately measure and compare our customers’ competition in terms of product offerings, pricing models, organizational structure, and even business practices.
Primose Competitive intelligence processes bring enterprises best-in class analytic tools that allow them to gain a more in-depth, clear-cut understanding of their position in the marketplace is it relates to their competition. From a “how do our products/brands measure up against our competition?” perspective, our Competitive™ intelligence tools include but are not limited to the following:
• Research Analytics to evaluate competitor products, next-generation rollouts, product specifications, service offerings;
• Comparative Sales Analytics that target and benchmark pricing structures, product introductions, promotional activities, and sales structures.
• Benchmark tools to measure manufacturing/cost structures, distribution channels, and supply chain business processes.
From a “how do our organization’s internal management and business processes compare with our competitors?” viewpoint, our Competitive™ intelligence consultants leverage analytics tools to discover similarities, as well as differences, in the organizational aspect of business competition. This can can entail competing firms’ investments, organizational changes, corporate strategy, acquisitions, and key executives. Primose Competitive™ intelligence helps enterprises get inside the head of their competition, so to speak, with sophisticated BI and Data Science techniques that are capable of anticipating competitors’ future activities.
In this digital age, knowing where you stand—with your customers, with your sales and operations teams, and especially among your competition—is fundamental to effective planning for future success. Our PRIME Benchmark™ services are specifically designed to help your enterprise discover what’s really going on, both within your organization and throughout your industry.
PRIME Benchmark™ services and solutions go way beyond traditional benchmarking methodology, by giving your organization the advanced tools it needs to triangulate and explore the intersecting relationships between internal data assets with relevant external data, market research data and competitive intelligence data. PRIME Benchmark™ services give businesses the ability to put all types of data in play, from internal customer purchasing, customer service, market research, pricing structure and promotional data, to external census, geographic, social media, public domain, and competitive data.
With PRIME Benchmark™ solutions that leverage proven practices in comparative data analysis, your business gains the ability to make logical connections from disparate sources. Determine what strategies are working for your business, as well as pinpoint areas that don’t measure up or require adjustments. Learn how your competition is handling similar issues within your industry and develop more profitable courses of action for your enterprise based on these findings.
Our PRIME Benchmark™ services include but are not limited to the following:
- Key profitability and cost advantages
- Organizational structure assessments
- Operational benchmarking reports
- Sales strategy benchmarking
- Retail strategies and initiatives
- Brand and product evaluation
- Competitive R&D efforts
- Go to Market strategies
- Competitive sales structure
- Distribution capabilities
- Competitive R&D efforts
- Plant assessments
- Pricing assessments
- Supply chain analysis
As consumers, standing in an aisle and faced with an abundance of choices between similar, yet competing products, price often dictates which product we choose. If it was your product left on the shelf, as data analysts we can help your business find out why, and then determine how to level this pricing playing field with our PRIME Price™ optimization services.
We understand how difficult it is for businesses to determine how much the market will bear when determining pricing structures for goods and services in relation to customer demand, competitive pricing, and profit margins. In a demanding global marketplace where more traditional, dartboard approaches for creating pricing structures no longer suffice, PRIME Price™ optimization is our next-generation service designed to help firms develop and maintain a more precise and competitive-minded pricing system that relies on real-time, available data that directly correlates with what your competition is charging for similar products or services.
PRIME is uniquely qualified to offer PRIME Price™ optimization services, which build on the success of our leading research and deployment of advanced data mining technology. In today’s mass-consumer environment, products are continually adjusted based on supply, demand and competitive forces. PRIME Price™ optimization presents an intelligent pricing module that provides the logic to help your business hone in on the right price while maintaining profitability for your products:
PRIME Price™ optimization includes but is not limited to the following ongoing services:
- Competitor identification, similar product evaluation;
- Competing product-matching/comparison analysis;
- Baseline pricing structure comparison analysis;
- Predictive pricing analyses and a basis to formulate pilot programs, strategies and tactics;
- Competing supply chain/inventory analysis;
- Periodic reporting and analytics to modify pricing strategies as required;
- Cloud computing services to manage data storage.
Voice of Customer
What if your business had the inside track on not just your customers’ but also potential customers’ likes, dislikes, and expectations in terms of the specific products or services your business wants to promote? Using next-generation data science makes this crystal ball scenario possible with our PRIME Voice™ service that allows you to understand your voice-of-customer.
PRIME Voice™ is a proven methodology that takes an in-depth look at your products or services through a consumer’s perspective, focusing on pertinent market research data and your enterprise’s internal customer data assets to determine what drives your consumers’ buying decisions. If your business is currently in new product development, PRIME Voice™ serves as an invaluable resource in providing the input your business needs to create new, more marketable commodities.
The more information your business can include, the clearer the picture you’ll get. Your business can also include external data ranging from census, geographic and social media data to focus group results and competitive data. Our PRIME Voice™ solution studies the market research and all other applicable data necessary to establish a concrete understanding regarding your customers’ preferences. Next, PRIME Voice™ tools prioritize and organize these inclinations to help your business more accurately evaluate how existing or proposed products or services meet, or in some cases, don’t meet these priorities.
Armed with this knowledge, your organization can develop strategies and implement product solutions to best meet these expectations and improve your market share:
• New Consumer Product Research;
• Focused Market Research and Structured In-depth Interviews;
• Consumer Responses to Non-traditional Entrants into your Market;
• Clear Analysis of Customer Voice for your Key & New Competitor’s Offerings;
• Baseline for Custom, Comparative Analysis to Inform your Initiatives, Pilots, Strategies & Tactics
When the going gets tough, the tough get going. For most businesses, customer attrition is a fact of life—a potentially serious problem that can sap the energy out your brand and the profits from your bottom line. Don’t let this universal business problem stop your business from developing and implementing strong, measurable strategies that can transform this negative situation into credible opportunities for growth in both market share and profitability. PRIME Churn™ is an advanced analytic solution that offers businesses a much more assertive approach to managing churn, and improving customer loyalty migration to its full potential.
Our PRIME Churn™ optimization solution doesn’t just look backward in an attempt to predict the future. It’s an iterative, ongoing approach that relies on advanced analytics segmentation query tools that draw on four major types of data—Behavioral, Financial, Demographic, and Alternate sources—to understand current, future, and past perspectives. PRIME Churn™ taps into these data assets to identify and categorize your consumer base into measurable groups, from extremely loyal customers and lower potential customers to unpredictable or even highly negative customers who could adversely affect your brand and profitability. Then using various marketing means—cross selling, upselling, affinity marketing, loyalty marketing, managed attrition to discard negative customers, and new customer acquisition, to name a few—you can simultaneously increase market share and increase profit by migrating customers from a lukewarm stance toward a more loyal view of your brand.
PRIME Churn™ goes way beyond the typical “stop the bleeding” stance to avoid losing customers. This solution takes advantage of analytic approaches that, until recently, were out of reach. These include, for example, understanding customer level profit, which is a prerequisite to managing churn, and using Primary, Market, Social Media, and Competitive research data to discover why specific approaches succeed and why others fail. All of these tools can be deployed and integrated after the methodology basics are in place, to create a conducive environment in which customers are more disposed to respond favorably to targeted marketing programs.
PRIME Churn™ can work as an open-ended program, where tracking successes and learning from attempts that did not work as well calls for an ability to monitor and analyze results over time, and also as a rapid, turn-key solution. With a predefined set of data you provide, our rapid deployment solution helps you deliver fast results and realize lucrative gains with minimal impact to your business operations and budget.
Many service-oriented businesses revolve around the mission-critical data they require to successfully earn their keep. What many businesses are now discovering is that the data itself—data that’s necessary to run their business—can also serve as a sought-after, profitable commodity. PRIME Consulting is successfully leading the Big Data industry pack in this data monetization / data commerce revolution with our PRIME Monetization™ service.
PRIME Monetization™ is a robust methodology to help client businesses develop and implement constructive new approaches to realizing additional revenue streams from the extensive data they already have. Clients can use their data assets to build a foundation for other products or services that they can then sell—at a profit—to other companies who would benefit from the intelligence this data offers.
PRIME Monetization™ is all about business innovation, with PRIME’s experienced professionals assisting client executives in thinking outside the box to leverage all the buying information they’ve collected to successfully sell it to other affiliated concerns.
Our Market Opportunity Analysis helps customers resourcefully define concepts that have potential for further investigation and exploration into viable data-driven commerce. This analysis includes evaluating market size potential, revenue potential, profitability forecasts, competitors, risks, barriers, and market differentiators, among other data points, with the sky being the virtual limit in terms of all the novel ways companies can profit from their raw data, processed data, public data, behavioral data, purchasing trends, and more.
Next, we develop Proof of Value Concepts to determine the financial viability of proposed products or services, followed by Potential Execution Scenarios where we take into account possible partners, possible acquisition targets, and potential implementation schemes that would make the most sense for the type of enterprise or specific industry in which our customer clients do business.
Finally, we help manage the entire Realization Process with the assistance of marketing firms, technology vendors, and our in-house experts.
Below are just a few of PRIME’s highly creative data monetization endeavors on behalf of our client partners that may resonate with your own organization as your stakeholders explore potential new revenue streams from existing data assets:
- Sell market intelligence, or competitive intelligence that measures what, how much, and where competitive retailers are selling their products.
- Sell integrated public domain data and internet chatter data, which can be used to develop new products or services around that information.
- Extend or sell a proven business model that functions better than other business systems for that specific industry or business, including cleansing and enriching data, supply planning, inventory planning, and demand planning proficiencies.
- Sell specific, location-based marketing and sales data that has a domino marketing effect on other businesses (such as real estate buy/sell information to cellular, cable network, and moving companies, etc.).
- Sell retail sales data that can be used to build recommendation engines that respond to a specific customer’s buying preferences.
To minimize our clients’ cost of ownership, our PRIME Monetization™ specialists strive to work within the confines of existing platforms that our clients use to capture data whenever possible, making every effort to assimilate new protocols into current software and hardware systems. We also explore the use of low-cost cloud-based platforms such as Amazon Web Services and Windows Azure when we determine a client’s existing infrastructure is not up to the new task.