Typical questions we discuss based on our target groups matrix are:
- How many (non-)customers are on the market for each customer segment?
- What are our onetime acquisition costs for new customers in each target group?
- What lifetime value can we generate with customers in each target group?
- Which segment do we serve today?
- Which segments do our competitors serve today?
- Are there any white spots no market player is serving today?
- What segment unlocks the most value in our business tomorrow?
- Is this segment e.g. open-minded, easily accessible and ready to spend?
We help you setup your field study, train your team and analyse your results.
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- Innovation manager
- Innovation experts
- Research expert
- (Potential) Customers
Q & A
- Is one iteration enough? It’s not easy to come up with the perfect interview guideline from the beginning. During the first interviews you will learn a lot about how to improve your guideline or the selection of your interviewees. It’s important that you are open to adaptions and review your field study after a few interviews.
- How many interviews do we have to conduct? We stop our research when our learning curve starts to flatten out. Experience has shown that this happens after less than 20 cases across all customer segments.
- How do I find the right interviewees? There are many options to identify potential interview partners. Discuss different options in your team based on your defined scope of the study and your draft of behavioral attributes in the Target Groups template. Possible ways to find interviewees are: Ask your sales and / or support team to provide contact details, check your customer management system and identify e.g. customers that became non-customers during the last year, use your personal network to identify potential interviewees and ask colleagues to do so, go to places, conferences or events where your customers or customers from your competitors might be and try to make contacts, etc.
- We usually do traditional market research with a high amount of participants. How can I make sure that we derive valid segments with just 20 participants? We believe that traditional customer segmentation based on demographic attributes (e.g. income / budget or household / company size) do not help us to know what our customers need. But when we understand their behavioral patterns in detail (e.g. in an interview) it is pretty easy to identify an offering that fits their needs. The derived segments can then be validated and quantified by the help of a lead management tool.