How well do you know your customers?
It's a common question for product managers and executives alike. This understanding drives decision-making for marketing campaigns, product development, and CapEx budgets. And at a high-level, most companies know their customers well. They have a general sense as to what their customers like and dislike. They understand their buying patterns. And for the most part, they feel comfortable in how they are perceived by customers relative to the competition.
But, as we dig deeper, it is not atypical to realize that perceptions of customers represent an amalgamated view of your buyers. For a one-size-fits-all marketing campaign, that is an acceptable level of understanding. But for a product manager or corporate strategist, this generic view misses out on the actionable insights generated by evidence-based customer segments and archetypes.
The deeper your understanding of customers, the more refined your strategic decision-making. Knowing buyers better than your competitors can be a point of differentiation and inform a winning strategy. However, getting to this level of awareness increasingly requires advanced analytical techniques and expertise in interpreting modellable outputs. Customer analytics is a powerful tool to inform your decision-making and guide strategic initiatives. However, having the technical know-how is only part of the equation. Extracting the actionable insights to inform strategic decision-making requires both functional and industry expertise. Pointe can help with both.
How Pointe can help
With years of experience in both analytical modeling and strategy consulting, we can empower your decision-making with differentiated intelligence on your customers. This process can include:
Customer segmentation - Pointe conducts statistical analysis on a combination of demographic and buying data to develop meaningful segments that enable intentional prioritization.
Customer archetypes - Pointe deploys advanced analytical techniques (e.g., clustering) to uncover deep connections between customer groups to inform actionable archetypes of your customers.
Perceptual mapping - Pointe helps clarify your competitive position by leveraging statistical techniques to map satisfaction and brand awareness relative to your peers.
Topic-based sentiment analysis - Pointe identifies key purchasing criteria and evaluates your performance across these dimensions via sentiment analysis algorithms.
Relevant use cases
Pointe supported a private equity fund to understand the customer sentiment of online shoppers for its online DTC business by conducting a comprehensive scan of e-commerce marketplaces to determine overall levels of defensibility. Pointe’s research found that current customers were satisfied with the target firm’s offerings, but prospective buyers were unaware of its existence, resulting in commercial excellence and marketing optimization recommendations to turbocharge sales and significantly expand topline.
Pointe aided a professional services company craft a target customer strategy to commercialize a new consulting offering by developing buyer archetypes based on company size, willingness to pay, sector profile, strategic position, and burning platform needs. Pointe efforts helped clarify the allocation of tens of millions of dollars to pursue the opportunity.