Having data is useless without insight. With our experience in the data sector, Blue Thirst can create actionable strategies from available data, allowing our clients to see the whole picture in their market place. Our extensive experience and knowledge enables Blue Thirst to benchmark our client’s performance against industry standards, allowing for informed decisions for the next step – ‘Strategy’.
“By understanding your customers and your market place fully, you have a much better chance of making the best business decisions”. – Martin McAndrew (Director)
Example research goals:
1. Understand Your Customers
At first, you don’t necessarily need to invest in large complex CRM solutions as your business probably already owns most of the important data. We can help you unlock that data and turn it into insight you can use to make better business decisions.
• Understand who your customers are, their buying habits and their life cycle.
• Understand the profitability, value and life cycle of your customers.
• Identify how your website and digital marketing are performing and how they could be improved.
2. Understand Your Market
Understanding and tracking your competitor’s strategy and marketing methods allow your business to stay one step ahead. Even if you are the leader in a market, there are many lessons that can be learned from looking at your competition.
• Identify new customer groups.
• Develop new products or services.
• Create new potential routes to market and pricing structures.
• Monitor known competitor marketing activity.
3. Analyse Where Investment is Needed
GAP analysis is the science of identifying where a business is and where it needs to be. With digital marketing and strategy, return on investment can be accurately calculated. By predicting the increase in profitability from any strategy change, you can ensure that your budget is invested to return the most value.
• Assist in creating business cases for future investment.
• Identify new products or services.
• Identify new routes to market and pricing structures.
• Ensure that your marketing strategy is complete.