Pricing decisions are crucial to a company’s success, however, many companies base their pricing decisions on gut feeling without any input from consumers.
Annalect’s pricing studies will help you implement better-informed, data-driven pricing strategies that help maximize profit, revenue or market share.
Our studies will help understand how much consumers are willing to pay for a product/service and what the optimal price point is for maximizing profit or revenue or market share. We provide not only information on price sensitivity but we also build market models that simulate both what the optimal price is if nothing changes and what will happen due to potential competitor response (eg. price changes made by competitors as a response to our pricing changes). Methodologies such as conjoint analysis will also provide you with an in-depth understanding of what drives consumer purchases and how much you can charge across a wide range of potential product scenarios.
Our tools will help answer questions such as:
- How can we optimize our pricing strategy to achieve greater profits, revenue or market share?
- What is the optimal price for our product or service?
- How do price and product feature changes affect the demand for our product/service?
- We are about to bring a new product to market. How should we price the product?
- How much market share are we likely to lose to competitors if we increase the price of our product?
- How do different changes to the product/service attribute affect the demand for our product?
- Will the reduction in the price for one of our products cannibalize the sales of our other products?
- How should we jointly price 2 products to maximize profit?
- What drives consumers’ purchases? How important is price compared to other product features?
- How strong is our brand compared to competitors?
Annalect has a wide range of solutions for helping you identify the most potential target groups, optimizing the content and effectiveness of marketing communication, building winning brand and marketing strategies and maximizing the return on investment of your marketing communication. What sets us apart is our state of the art big data platform and advanced marketing technology that integrates all available data points and ensures that we help our clients through all the stages from customer understanding to engagement to action/activation.
Our services include everything from target group analyses, customer segmentations, marketing effectiveness research, sales modeling, brand research, content development to and data driven online marketing.
Understanding your most potential target groups
Understanding which customers can make the biggest difference to our business is vital for any business. No company can afford to move ahead without having a clear idea of who the most potential customers are and what drives their purchase behavior. Annalect will help you understand your customer’s real emotional and rational drivers of behavior and leverage that information into action. Our unique approach will help you drive better results across all your customer segments and integrated channels.
Annalect’s segmentation research goes beyond only understanding who are the most potential customer segments, which emotional and rational drive their behavior as well as which touchpoints and messages are most effective for reaching the target groups. Our state of the art approach also forecasts revenues by segment, and prioritizes customer segments based on the difference they can make to your business. In addition, our advanced data management platform will ensure that your marketing communication is directed specifically to the most potential customer segments regardless of whether the customer segments have been defined based on demographic or psychographic variables. Our data driven marketing approach makes it possible to identify the consumers belong to your different customer segments based on their online behavior. This way we ensure that the most relevant messages are directed at the right customer segments.
Annalect’s target group analyses and segmentation studies help answer the following questions:
- What is the most potential target group for our product or service?
- What are the most potential customer segments like with regard to their category related purchase behavior, attitudes and brand preferences?
- Which emotional and rational factors drive consumers’ purchase decisions?
- Through which channels can we reach the target group most effectively?
- Which marketing messages are most relevant for different customer segments?
- How do I ensure the right messages are directed at the right target groups across different channels?
Content & Message optimization
Based in in-depth consumer understanding we will identify the marketing messages and content topics that will truly engage your most potential buyers. Not only will we identify the most relevant messages and topics, we will also ensure that several different tailor made messages/creatives are created and targeted to the right customer segments.
Our content and message optimization solutions will help you:
- make your marketing communication more effective through relevant messages that will inspire your most potential customers to action
- tailor your marketing messages to different segments/customer segments
- improve the effect of your CRM activities
Improving the ROI of your marketing investments
Consumers are exposed to an ever increasing number of online and offline channels. It is virtually impossible to evaluate the impact of each channel without having a rigorous analytical approach that evaluates the individual impact or ROI of each channel.
Whether your KPIs are to increase sales, awareness, consideration, trial or brand image, Annalect has the solutions you need for measuring and maximizing the return on investment of your marketing activities.
Annalect’s services will help you answer questions such as:
- Which marketing communication channels are most effective in driving awareness, trial and purchase of our products?
- How much sales did our marketing communication generate?
- How can future campaigns be optimized with regard to media choices and creatives?
- How I improve the ROI of my marketing investment?
- What is the optimal timing of marketing activities, taking into account issues such as cross-channel synergies, seasonality, and competitive tactics?
- Which marketing messages work the best in increasing sales?
- What is the optimal way of allocating the marketing budget across different channels?
- How well does owned and earned media work compared to paid media?
- How can I improve the effect of my social media activities?
Please, explore our supply of research products and let’s find together the best solutions to maximize’s your ROI.