Market and Customer Profiling.

In the current economic climate

Cost cutting is often on the agenda of many companies but doing so without reducing – and, better still, increasing - sales is vitally important. Unfortunately many companies find this balance hard to achieve. At RedRoute, however, we have a way to enable you to achieve both.

In order to understand how you can increase sales you first need to understand where your company and its products or services are positioned within the market relative to customer and consumer needs. You also need to understand whether these perceptions are the same for both users and non-users. Armed with that knowledge you can then tailor your propositions to better meet customer and prospect needs and so achieve sales growth by providing solutions which have greater appeal than those of your competitors. So how can you do this? This is where we can help.

In the first instance we carry out market research to produce an understanding of the market and of customers’ needs and how customers segment into those with similar and differing needs. Using this research data, as well as transactional data or other hard sales data sources, we then include the features and positioning of your products/services to understand how well you are meeting those customer needs and how well your products/services are matching those customer segments. We can then evaluate what would be required in order to maximise profits and sales by considering key dimensions such as:

  • What you offer (range and bundles)
  • Whether there are any obstacles to achieving greater sales such as poor customer service, logistic issues and so forth
  • How you should communicate it to customers and non-customers – what message to use
  • What the financial consequences would be as a result of these changes

If this sounds like a common-sense and practical way to both cut costs and at the same time meet customer needs more effectively, why not give us a quick call and we can have a chat? Tel: +44 (0) 20 7917 6042