Capitalising on Anticipation starts with analysing data

In my last post I discussed anticipation, and how research shows we more favourably anticipate experiential purchases over material ones.

The period of anticipation is an opportunity for increased revenue through sponsorship activation, strengthening your strategic partnerships and up-selling.

This is not a one size fits all initiative and to add real additional value to your consumers you need to:

  • Segment your customer base;
  • Find an initial subset to target;
  • Create new value specific to them.

Initially, locate periods of increased sales.

Once located, try and identify possible source(s) for this spike. Examples are: changes in your price, active or recent promotional campaigns, or any other unplanned traction received.

Next, segment the data over this period.

Look at two main consumer elements:

  1. Demographics: age, gender, occupation, hometown etc.;
  2. Behaviour: nature of purchase (solo, couple, group – family, friends), new vs. repeat purchaser, relation to time of year etc.

So… you’ve found initial target(s).

Now you need to know:

  • Why they purchased then;
  • What they need between purchase and consumption.

This can be done in a number of ways. I recommend:

  1. Direct contact. Depending on size and scale we’re talking either a phone call or personal email.
  2. Small survey. To get a better response rate offer some sort of reward or prize. Remember, the more you’re asking for the better the reward needs to be.

What are some good examples you’ve used or experienced to collect customer feedback?

One of mine is being asked to fill out “The World’s Shortest Survey (2.7 seconds)” by Grist.org… who can say no to that?

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