How Data Drives Our Development
We don’t create in a vacuum. Before we develop any strategic recommendations or tactical programs, we dig deep into the key components of the client’s brand and deep into the psyches of our target audience. Once we develop the optimal strategic brand positioning and messaging strategies, we then sharply focus on those prospects which best fit our target description, demographically and psychographically using state of the art tools. Once we place media, we monitor a constant feedback loop, perfecting our targeting along the way.
Here are some of the tools we use to dig deep into the marketplace, our client’s brand, the consumer and the media spectrum.
We do a thorough analysis of the marketplace and the competition, both the “direct competitors” as well as more “generic” competitors. We look at the dynamics underlying these competitors and the tools they have at their disposal to get their messaging across.
TAM. SAM. SOM
We pull in all the information we can regarding the overall size of the market, the portion of the market we can service and then make a realistic assumption of what share of the Serviceable Available Market we can obtain. This process is both science and art. The science lies in collecting and making sense of the numbers. The art is about making reasonable assumptions.
We look at the brand from all possible angles. Then we codify all the insights we glean into a traditional SWOT analysis, examining the brand’s Strengths, Weaknesses, Opportunities and Threats.
Either in Consumer or B2B marketing, our objective is to learn as much as possible about the target group, not only demographics, but also to dive into the emotional attachments driving their relationship with the brand. We use a variety of techniques to deliver these insights.
We believe focus groups are best used to understand the market “basics” — how people interact with the category, what are the key factors they are looking for within the given category, what are the emotional issues associated with the category, how do they choose between brands within the category (We have also used groups for copy evaluation, but believe that should be done with caution). We use professional moderators at facilities across the country.
Online Quantitative Research
We prefer to do our studies and surveys from pre-recruited online panels. They allow us to balance efficiency with reasonable projectability. At Signature, we develop our own survey instruments which allow us to customize each instrument for the given brand and issues surrounding it. In terms of data analysis, we employ a variety of techniques:
- Factor Analysis — Factor analysis allows us to look at a dataset and understand the trends and factors underlying the data. While factor analysis is a highly sophisticated data analytic tool based upon data correlations, the interpretation of the meaning of the factors requires experienced marketing professionals.
- Perceptual Mapping – Perceptual mapping allows us to not only uncover the dimensions underlying the consumers’ perception of the marketplace but also how each brand stacks up on these dimensions. It is a powerful tool for uncovering perceptual market structure with a variety of survey approaches utilized to collect the raw data.
- Conjoint Analysis — Conjoint analysis is best used in those categories where the consumer decision is based upon the specific attributes being offered in an array of products. The output of this analysis not only leads to better product design but also allows the marketer to understand the relative importance of each attribute in a given product.
- Cluster Analysis — Cluster analysis is a powerful technique where we take the data from each individual in a data set and cluster them together based upon similarities in the data patterns. This is a tool we use to develop natural segments of consumers.
Once we have done our due diligence in examining the market and the consumer, we then develop a positioning and strategy that will project us into the marketplace. In terms of media, our objective is to always get as “close” to the prospect as possible — not only demographically, but in a media environment where the prospect has the best chance of absorbing our message — while balancing overall media efficiency.
- SEO — While not considered a “traditional” media vehicle, our view is that it should be viewed as such. After all, SEO can be the most efficient media vehicle in any brand’s portfolio. We use state of the art SEO services to assess the most appropriate keywords, our brand’s performance on those keywords as well as the competitors’ performance and constantly optimize.
- Programmatic Buying — We generally use real-time programmatic media buying in the online space. Our vendors have consumer databases linked to their web properties allowing us to target on factors way beyond demographics.
- Geotargeting — In certain competitive situations, Geotargeting can be a powerful media tool, particularly in a category like retailing where we can focus on individuals who are physically at a competitor’s location.
- Remarketing — Remarketing is both a blessing and a curse. It allows us the ability to “remind” a prospect about a product they’ve expressed interest in as they travel through cyberspace, but at a certain level of frequency it becomes an annoyance. Our objective in remarketing is to stay comfortably under the point of annoyance.
At Signature, media planning is part of a “loop.” We place the media and then analyze the results in terms of the most relevant factors, be it KPI, CPA, CPM, CPC or a variety of other factors. Depending upon the nature of the campaign, we utilize data from Google Analytics and proprietary databases linked to our media vehicles.
Award-winning marketing talent, maximum return on investment.
The Signature team is comprised of major-market talent, with a slew of award-winning projects on their resumes. However, it’s our shared passion for client success that truly sets us apart. We’re not here to sell you services you don’t need. Instead, we carefully assess and then assemble elements of your project to create a message that resonates with your target audience, ensuring the maximum return on your investment.
Connecticut | 409 Canal Street, Milldale, CT 06467 | 860.426.2144
Florida | 1241 Ludlam Court, Marco Island, FL 34145 | 203-317-7663
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