Why Mystery Shopping is a Key Tool for the Retail Industry

Why Mystery Shopping is a Key Tool for the Retail Industry

By Susan Reilly – Head of Sales and Marketing

The key to success in today’s competitive market is having a solid grasp of your customers. With the help of trained shoppers known as mystery shoppers, mystery shopping evaluates the customer experience and offers valuable insights into your customers’ shopping trips. These fictitious customers observe and assess pre-defined areas of a customer’s shopping trip, including customer service, product quality, and overall experience. You can improve your customer experience by identifying strengths and weaknesses in your customer journey with mystery shopping, which gives you a unique consumer perspective.

It Contributes to Your Analysis of Your Competitors

You must be thoroughly aware of your rivals’ advantages and disadvantages if you want to stay one step ahead of them. An efficient tool for competitor analysis is mystery shopping. You can learn important information about your competitors’ customer experience, pricing strategy, product positioning, and marketing communications etc by hiring mystery shoppers to assess their stores. Using this data, you can evaluate your performance and spot opportunities to set yourself apart from the competition.

Are Your Internal Processes Being Followed? 

Through mystery shopping, you can assess compliance with internal processes and gain insights into your company’s customer-facing operations. Your staff’s compliance with company policies and procedures can be evaluated by mystery shoppers, assuring uniformity and high standards across all sites. Mystery shopping enables you to apply the required training and modifications, resulting in a more effective and efficient operation by discovering areas for improvement in internal processes.

It Enhances and Advances Your Brand

Building customer loyalty and gaining new customers depend on having a great brand image. You can evaluate how effectively your brand is marketed in store by using mystery shopping. To maintain a consistent brand message and a favourable brand experience, mystery shoppers can review a variety of touchpoints, including point of sale signage, marketing materials, and interactions with staff. Mystery shopping assists you in enhancing your brand’s reputation and developing a consistent customer experience across all channels by pointing out potential improvement areas.

Utilising Mystery Shopping as Part of Your Marketing Plan

Knowing the advantages of mystery shopping, and selecting the best partner to carry out this insightful customer experience analysis is critical. Many companies also want a tool that allows customers to give direct feedback (and also avoid unwanted negative reviews about their brand). Through their TellUsFirst platform, Customer Perceptions provides a comprehensive feedback service. Customers can leave real-time feedback on their experiences with Customer Perceptions’ instant customer feedback system, enabling you to continuously improve your services and customer experience. 

To best serve your needs, Customer Perceptions offers various mystery shopping services, including in-store, telephone, internet analysis, and competition analysis. As a primary marketing tool, mystery shopping offers improved customer insight, contributes to competitor analysis, shows how to improve internal processes, and strengthens and builds your brand. You can acquire a competitive edge, boost customer satisfaction, and promote company expansion by including mystery shopping in your marketing plan. To make the most of mystery shopping and advance your marketing efforts, contact Customer Perceptions immediately.

Visit Customer Perceptions to learn more about the company and its market research services.

Four Incredible Advantages of In-Store Audits

Four Incredible Advantages of In-Store Audits

By Susan Reilly – Head of Sales and Marketing

Owners and managers of retail businesses understand how crucial it is to remain competitive. In-store merchandising, staff performance, and product knowledge are all essential for delivering a great customer experience and boosting sales. In-store audits can help companies achieve their customer experience and sales goals. Regular audits of your retail stores can have many advantages that can improve operations and help you achieve your growth targets.

Make Quick, Educated Decisions

Any retail organisation’s headquarters manages multiple store locations and strives for uniformity across all stores. In-store audits provide the head office with timely and insightful information on an individual store’s compliance on certain predefined areas of interest, enabling the corporate office to obtain crucial data. This data allows the head office to make quick, informed decisions while also removing the need for multiple stores visits by Head Office staff across multiple locations that are often located throughout the country.  

Collaborative Workflow and Oversight

In-store audits help ensure that business policies, standards, and procedures are being followed while also facilitating oversight of each store’s operations. They encourage head office and shop managers to work together to resolve any audit results and implement any recommendations.

Advantages for the Store

The individual store locations benefit significantly from in-store audits. Here are some advantages:

  • Enhanced Product Knowledge: In-store audits are a great tool for determining the amount of product expertise among retail staff. Audits help retailers measure their staff’s product knowledge, which improves customer service and boosts sales by pointing out areas that require more training or support.
  • Improved In-Store Merchandising: In-store audits allow you to assess your merchandising plans’ success. By analysing a store’s merchandising, brands can see how their current strategies are performing. Based on this feedback, stores can build more visually appealing displays that draw customers and boost sales.

Benefits for Regional and District Managers

District and regional managers are essential in managing several stores in one region. These managers can gain from in-store audits in two ways, including:

  • Consistency and Standardisation: In-store audits assist district and regional managers in ensuring that corporate rules and standards are consistently applied throughout all stores. Consistency strengthens the brand image and improves the overall consumer experience.
  • Best Practices Identification: District and regional managers can identify stores that excel in particular areas and highlight best practices through in-store audits. Managers can encourage a culture of continual improvement and motivate other stores to produce comparable outcomes by recognising and sharing these successes.

Advantages for Customers

Last but not least, in-store audits are advantageous to the most significant stakeholders: the customers. This is how:

  • Improved Customer Experience: In-store audits assist in identifying opportunities to improve the customer experience. Retailers may improve the environment for customers and increase happiness and loyalty by resolving audit findings, including staff performance, store layout, and product availability.
  • Quality Control: In-store audits ensure customers receive dependable service and quality products at every shop location. As a result of this experience, customers are more likely to trust and promote the brand and shop again.

Performing in-store audits has several advantages for all parties involved in the retail sector. These audits offer insightful information and highlight areas for improvement to everyone from the corporate head office to individual stores, district, and regional managers. Retailers can enhance their processes, gain a competitive advantage, and ultimately deliver excellent customer service by utilising the knowledge of businesses like Customer Perceptions, which specialises in in-store audits.  Visit Customer Perceptions today to learn more about how they can help your business today.

MSPA Conference 2023

Written by: Lynn Carr, Senior Project Manager

In late May, Emma and I had the incredible opportunity to travel to Portugal to attend the 2023 MSPA Europe/Africa conference. The MSPA, or Mystery Shopping Professionals Association, is dedicated to helping its members deliver world-class mystery shopping solutions and provides us with invaluable support and expertise. Customer Perceptions are proud members of this organisation.

Hosted in the beautiful Algarve, the theme of this year’s conference was “The Human Asset | Driving Operational Excellence.” The venue itself, a superb hotel set on a beautiful beach just minutes from the buzz of Albufeira, provided us with the perfect backdrop for what was set to be a wonderful few days of connecting, learning and sharing.

One of the most remarkable aspects of the conference was the sheer diversity of the attendees and speakers. The talks, delivered by a series of renowned industry experts, were nothing short of awe-inspiring. As I sat among the audience, I found myself engrossed in presentations that challenged my existing knowledge and expanded my horizons. Among the speakers who delved into thought-provoking subjects, sharing their research and experiences, was Emma Harte, our own CEO. Emma delivered an inspiring presentation entitled “Improving the business performance through the performance of our people.” In her presentation, Emma spoke about the single most important asset in any business, the human asset.

She brought the room through her own inspiring journey to CEO, what we as an organisation do to maximise on and acknowledge the value of our people for the success of the business strategy and how, in the words of Peter Drucker, “Culture eats strategy for breakfast!”

We also attended workshops and networking sessions which covered a wide array of topics, from operational excellence through people, cutting-edge innovations, to overcoming industry challenges. Each session was a provided a rich array of ideas and perspectives, with discussions leaving no stone unturned.  These sessions fostered an environment of collaboration and camaraderie, where we felt encouraged and empowered to exchange ideas, seek advice, and build lasting connections.

One of the greatest treasures of attending this year’s conference was the networking opportunities we were presented. We had the privilege to connect, learn from and share with professionals from all over Europe and Africa, with each peer bringing their unique expertise and insights.  During coffee breaks, meals, and evening social events across the conference, we engaged in insightful conversations with other mystery shopping professionals from diverse cultures and backgrounds, enhancing our professional networks, working knowledge and expertise further.

Attending the 2023 MSPA Conference was an eye-opening experience for professional growth. We deepened our knowledge in the field of mystery shopping, broadened our perspective on global challenges, spent time with friends, new and old, building friendships and making memories that will last a lifetime. The connections we made and the insights we gained will continue to inspire and guide us for a long time!

5 Reasons Why Mystery Shopping Is A Key Marketing Tool

5 reasons why mystery shopping is a key marketing tool

Mystery shopping, a technique that involves sending anonymous evaluators to assess the customer experience, has become an increasingly important tool in modern marketing. With the ability to provide valuable insights into the strengths and weaknesses of a business, it offers a unique perspective that traditional market research methods cannot match. 

In this article, we will explore five reasons why mystery shopping is a vital marketing tool, from identifying areas for improvement to enhancing customer loyalty and driving revenue growth.

You Gain Better Customer Insight 

Mystery shopping is a valuable tool businesses use to gain better customer insight. This process involves hiring trained professionals to pose as regular customers and evaluate the customer experience at various touchpoints of a business. By doing so, businesses can gain insights into how customers perceive their products or services, how they interact with their staff, and what factors influence their purchasing decisions. These insights can help businesses identify areas for improvement in their customer service, products, or marketing strategies, leading to a better overall shopping experience. Mystery shopping can also provide businesses with valuable feedback that they can use to refine their sales approach and build stronger customer relationships.

It Forms Part Of Your Competitor Analysis

Mystery shopping can be a powerful tool in conducting competitor analysis. By sending a mystery shopper to a competitor’s business, companies can gain valuable insights into their operations, customer service, and overall customer experience. This information can be used to identify the strengths and weaknesses of the competition and to benchmark against their own operations. Additionally, companies can gather information on competitor pricing strategies, product offerings, and promotional tactics, which can inform their own business strategies. Mystery shopping can help companies stay ahead of the competition by identifying areas where they can improve and capitalize on opportunities to differentiate themselves in the marketplace.

You Can Learn About Internal Procedures 

Mystery shopping is a great way to learn about internal procedures within a company. By posing as regular customers, mystery shoppers can evaluate how well employees adhere to company policies, such as customer service standards, sales procedures, and handling customer complaints. This can help companies identify areas where they need to improve internal procedures and can ultimately lead to better customer experiences.

Create And Evaluate Products Based On Valuable Research

Mystery shopping can also be a valuable tool for creating and evaluating products. By using mystery shoppers to evaluate competitor products and services, companies can gain insights into what works well and what doesn’t. This information can then be used to inform product development and marketing strategies. Additionally, mystery shopping can help companies evaluate the effectiveness of their own products and services, identifying areas where they may need to make improvements to better meet the needs of their customers.

It Promotes And Improves Your Brand

By ensuring that your employees deliver consistent and high-quality customer experiences, you can build a positive reputation for your brand. Mystery shopping can also help companies identify areas where they need to improve their customer service or product offerings, allowing them to better meet the needs of their customers. By consistently delivering exceptional customer experiences, you can build customer loyalty, increase customer retention, and ultimately drive more revenue for your business.

Looking for a market research solutions provider?
Look no further than Customer Perceptions!

Our services are designed to improve customer experience, provide competitor insights, boost customer retention, monitor industry standards, and ultimately increase sales and revenue.

We operate globally, serving clients in Ireland, the UK, and beyond. 

Contact us today to learn more about how you can leverage mystery shopping as a marketing tool.  

4 Amazing Benefits Of In-Store Audits

4 Amazing Benefits Of In-Store Audits

A retail store audit is an essential part of retail management that involves assessing a store’s operations and compliance with company policies and procedures. These audits provide several benefits that can help improve store performance and customer experience.

In-store audits can help identify areas of improvement, enabling retailers to optimise store operations and boost sales and customer satisfaction. They can also help detect and prevent theft and fraud, enhancing security and loss prevention measures. 

Here’s a closer look at the benefits of in-store audits for various stakeholders within retail management.

Benefits For The Head Office

In-store audits are an important tool for head offices in managing their retail operations. By performing regular audits, head offices can monitor compliance with company policies and procedures, ensure consistency across stores, and identify areas for improvement. In-store audits also provide insights into customer experience and enable head offices to measure and analyse store performance. This data can be used to optimise inventory, store layout, and staffing, resulting in increased sales and profits. Additionally, a retail store audit provides an opportunity for head offices to assess the effectiveness of their training programs and ensure that employees are properly trained and following the established procedures. By detecting and addressing issues early on, head offices can prevent reputational damage, reduce losses due to theft and fraud, and maintain compliance with regulatory requirements. 

Benefits For The Store

In-store audits provide numerous benefits for retail stores. They help identify areas of improvement in-store operations, such as product placement, cleanliness, and customer service, which can lead to a better overall customer experience. Additionally, in-store audits provide an opportunity to ensure that stores follow company policies and procedures, which can improve operational efficiency and reduce costs. But that’s not all; instore audits also enable store managers to identify and address training gaps among their staff, leading to a more knowledgeable and skilled workforce. In-store audits also help detect and prevent theft and fraud, which can enhance security measures and prevent hefty financial losses for the retail store. 

Benefits For The District And Regional Managers

District and regional managers play a crucial role in ensuring the success of retail operations, and in-store audits can be a valuable tool for them to achieve this goal. In-store audits involve visiting stores to evaluate various aspects of the operation, such as cleanliness, inventory management, customer service, and adherence to company policies and procedures. By conducting regular audits, district and regional managers can identify areas of improvement and provide targeted training and support to store retail staff to ensure consistency and compliance with company standards.

In-store audits can also help managers identify potential issues before they become major problems, such as inventory discrepancies or customer service issues. Additionally, audits can provide valuable insights into customer behavior and preferences, informing decisions on product selection and merchandising strategies.

Benefits For The Customers

Customers can benefit from in-store audits as it ensures that the retail store they are visiting is upholding high standards of cleanliness, organisation, and customer service. By conducting regular audits, store managers can identify and rectify any issues, making for a better shopping experience for customers. Additionally, audits can provide insights into customer behavior and preferences, allowing stores to tailor their offerings to better meet customer needs. 

As a market research solutions provider, Customer Perceptions is a leading authority in the industry. Our services are designed to improve customer experience, provide competitor insights, boost customer retention, monitor industry standards, and ultimately increase sales and revenue.

We operate globally, serving clients in Ireland, the UK, and beyond. 

Contact us today to experience the benefits of a retail store audit.

Common Mystery Shopping Mistakes To Avoid

Common Mystery Shopping Mistakes To Avoid

After nearly three decades in the industry, we know what the mystery shopping mistakes are that frustrate our clients. People often think Mystery Shopping intends to catch employees out when they make mistakes. Each client has a different purpose when using our Mystery shopping services. It might be to measure customer service quality, confirm whether employees are complying with company policies and regulations, gather specific information about services and products, or any other need identified by the business.      

At Customer Perceptions, we work in partnership with our clients to design programmes tailored to their individual needs.  Consultation is the first stage of our Mystery Shop process, where we meet with the client to discuss their objectives, pain points, and what they want to achieve. Then we provide our clients with a more detailed overview of how the process works, project timelines, costing and any other matters that need to be discussed. 

From here our teams are briefed and receive detailed guidelines that give insight into the client’s business, the objective of the programme, what scenario to follow, what to report on and more. 

The following are common mistakes we attempt to avoid:

Not Specific Enough   

Sometimes businesses complain that the Mystery Shop does not keep the audience in mind or cover enough of the shopping experience for the results to matter. They feel the process and content are not specific enough. Besides consulting in detail with our clients before drafting the questionnaire, we also do quality checks once the reports from our mystery shoppers are submitted. Did our shoppers assess the correct location and report on every element of the customer journey?

Clear Objectives

It is vital that the objectives of the mystery shopping programme are clear. Every business wants a return on investment when they use Mystery Shopping to measure customer experience.          

We prioritise your objectives and core values, while using our experience and expertise to design the survey for the mystery shopping programme. Our goal is for the questionnaire to address each touchpoint of the shopper experience and assess lasting impressions. 

Not Acting Like A Normal Customer   

It is sometimes difficult for mystery shoppers to act like normal customers, especially when they are instructed to shop in a certain order, but it’s not impossible to overcome. A particular level of experience is required when someone wants to become a mystery shopper. Most people have experience in retail shopping and can act out a defined role as required. As with every industry, restaurants and hotels have set service and quality standards. A mystery shop in these industries requires someone with experience in the field so they can behave like an average patron or guest.    

We recruit the ideal candidate for your mystery shopping programme and draft exact guidelines for them to follow. Then we brief them by giving them insight into the business, the objectives of the programme and what is required of them. It includes what to look out for, the scenario to follow, what to report on, and timelines.  

Forgetting The Toilets

Remembering to review the toilets during a mystery shopping session is about giving attention to details. Many business managers and owners know that customers unconsciously associate the cleanliness of a shop’s bathroom with the standards of the business and how they view their customers. A clean bathroom creates a positive perception showing that a company is committed to all stages of the customer service experience to ensure customer satisfaction.   

We make the reports, results and analysis available on our user-friendly online system, Client Insights. Here you can drill down to individual locations or particular dates to source the information you specifically need.       

At Customer Perceptions, we are specialists in creating bespoke market research solutions for our clients. We limit mystery shopping mistakes with our comprehensive Mystery Shop process. Contact us today.

The Importance of Competitor Analysis

Many businesses understand the importance of competitor analysis but generally only focus on pricing and products. With the arrival of social media, understanding your competition’s marketing techniques and how you can improve your company’s digital marketing strategy has become as important as pricing and product research. What are some benefits of conducting a competitive analysis?        

Customer reviews highlight what your competitor’s product lacks, offering you the opportunity to add elements to your product that will meet their needs.

  • You can identify marketplace opportunities on which to test out new marketing strategies your competition is not using.
  • Learn what your competition is doing well and what you need to do to stay relevant and competitive in your industry.
  • Gain a benchmark against which you can measure your company’s growth. 

At Customer Perceptions, we offer competitor analysis services that measure your competitor’s customer journey, pricing, point of sale (POS), promotions, policies and procedures. Let’s look in more detail at competitor analysis.

They are Industry Specific   

Are your ideas about your competitors and the market up to date and accurate? An industry-specific competitor analysis creates a more comprehensive picture of the market and industry in which you compete. There are similarities between industries, but there are also differences. The hospitality, retail, and financial industries offer promotions as part of their business strategy, but their target market and products differ.

Do you want to measure, compare and benchmark your performance against your competitors? We can do a competitor analysis for clients in the travel, restaurant and dining, retail and online, hospitality and tourism, medical and care, financial, and professional services industries.

Strengths & Weaknesses From Other Businesses Are Identified   

Have you spent time with your sales, marketing, and customer service teams to gather the data you want to use to benchmark your company? The next step is to collect information about your direct competitors to learn about their strengths and weaknesses. Research the following factors:

  • Product. How do the qualities and features of the products compare to your own?
  • Pricing. Can you estimate their cost structure? What is their discount policy? 
  • Place. What is their geographic reach compared to your business?
  • Promotion. What is their presence on social media, and what marketing tactics are they using?
  • Positioning. Review their websites, catalogues etc. What is their unique selling proposition?
  • Reputation. What are people saying online, and on social media about your competitor’s products and services?
  • People. How big is the organisation? 
  • Partnerships. Who are their suppliers and how long have they been working together? 
  • Once you have all the above information, do a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for an effective competitor analysis.  

Market Opportunities are Revealed   

A competitor analysis will reveal market opportunities, however, look further than your direct competitor towards indirect and even substitute competitors. They might offer other insights and markets you never considered. Indirect competitors are businesses in the same category as yours but have different clientele, products, and services. An example of an indirect competitor would be a winery and brewery. Both sell alcohol, but their products and clients are not the same. A substitute competitor has different products and services than you, but they target the same customers in your geographic area. They might be doing something distinctive to attract potential customers.

The Most Important: Performance Evaluation   

Once you collect all the information and complete the SWOT analysis, it is time to do a performance evaluation. How does your business, products, or services compare to your direct, indirect or substitute competitors? What competitive advantage do you have that appeals to your target market? When you understand where your brand is positioned, make strategic decisions that help grow your brand and translate those into actionable results with timelines. 

At Customer Perceptions, we follow a partnership approach. We adapt our solutions to suit your changing business needs. When was the last time you benchmarked your business against your competition in the marketplace? The importance of competitor analysis cannot be underestimated. Contact us today. 

Who Can Become A Mystery Shopper?

Who Can Become A Mystery Shopper_

Are you interested in becoming a mystery shopper? Do you like a flexible work schedule and are comfortable with a variable income? Some weeks are busier than others. Do you thrive on multitasking and are willing to act out a role at times? All these aspects are part of being a mystery shopper. If you like these challenges, you might find mystery shopping interesting.      

Before accepting work as a mystery shopper, research the mystery shopping companies you are interested in, as unfortunately there are some unscrupulous employers. A recognised company will never ask you for start-up fees.

Qualifications And Age     

Mystery shoppers sometimes represent a certain type of person or a specific age demographic. The age requirements for jobs are as diverse as the consumers purchasing products or using services. Most assignments, however, do not have specific demographic requirements. 

While no formal qualification is needed mystery shoppers require both good written and spoken English, as well as keen observational skills and the capacity to offer valuable feedback. It is crucial to have a grasp of what constitutes excellent customer service and the ability to identify and report on it.

As e-commerce continues to expand and technology increasingly plays a role our daily lives, having a fundamental knowledge of how mobile apps or web-based tools function, or at the very least, a willingness to acquire such knowledge, has become essential.

Experience-Level  

Mystery shoppers are expected to have a basic understanding of the subject they are evaluating whether a specific industry, aspects of products and services, or the quality of customer service. To assess a restaurant fairly, you need to have a good idea how restaurants operate. The hotel industry has specific characteristics, and you need to know what the acceptable customer experience standards are within the tourist sector before you can act as a guest and provide quality feedback. 

If you love chocolate, that might be the only experience a client wants when you need to observe how customers engage with a brand in the shops, as they don’t need you to know how chocolate is manufactured. 

Personal Skills

As a mystery shopper, you will be required to do a variety of assessments, defined by the client’s requirements and the customer journey they want you to test. Here are some personal skills that are good to have if you want to become a mystery shopper.

  • Detail oriented
  • Excellent observational skills to see what is not obvious
  • Active listener to hear what is not said
  • Curious about the company or product you are evaluating 
  • Flexible enough to work at short notice and unusual hours
  • Enjoy multitasking
  • Objective and open-minded
  • Good memory, as you might not be able to take notes on the job
  • Willing to act out a role at times
  • Timeliness
  • Efficient and concise during reporting.

Proper Reporting Skills

Good verbal and written communication skills are vital to mystery shoppers. You are expected to give an honest assessment of your evaluation in detailed reports to the company that hired you. If you are unable to make notes while you are doing your mystery shopping, work out a system where you can record or write down information as soon as it is completed, as details are important for a successful assessment. Most companies have a particular format for the report to help you turn your experience into meaningful data.    

We are a credible company with more than 10,000 experienced and trained field researchers, the largest base in Ireland. For Customer Perceptions, our field researchers are the core of our successful programmes. Are you interested in becoming a mystery shopper? Contact us for more information.

The Advantages of Focus Groups

The Advantages Of Focus Groups

Focus groups are a market research method used to gather customer opinions and perspectives on new products, services, campaigns or ideas. There are five types of focus groups, mini focus groups, online focus groups, two-way focus groups, dual moderator focus groups, and client participant focus groups. During focus group discussions, participants are asked different types of questions and encouraged to freely share their thoughts. 

The questions are designed to gather as much information as possible and include engagement questions, exploration questions, and exit questions. Focus groups are part of product development, marketing, or customer service development strategy and should have defined goals. What are the benefits of focus groups?     

Understand Customers’ Thoughts  

The customer is at the core of every business, and the main advantage of focus group interviews is learning about their experiences. You gain valuable insight into the customer’s perspective on a brand, product, service or topic. When the group discussion is well planned, held in a comfortable interactive setting and led by an experienced moderator, consumers are more likely to share their opinions. 

Focus groups might not be the most effective method to get customer feedback on delicate topics or products of a sensitive nature, as people could feel inhibited. A confidential questionnaire or survey should elicit more feedback. At Consumer Perceptions, our moderators are skilled and experienced in facilitating focus groups. They know how to create a safe space that guarantees all views are heard and respected.

Collect Valuable Output  

A mix of perspectives and focus group dynamics can have a very positive impact on the quality of the research results. Good moderators know how to stimulate discussions among participants, which leads to more in-depth conversations and the collection of valuable output. Establish rules at the beginning of the meeting that guarantees everyone will be heard, including people that are shy about giving their opinion. When contributors know they are listened to and their input is valued, they become more comfortable sharing.     

The Customer Perceptions field researchers are vital to the success of our focus groups. The base is large, and we can profile particular demographics requested by our clients.  

Data Is Created and Received Quickly  

Every manufacturer or service provider wants to be a first mover. The competitive advantage allows them to establish brand recognition and customer loyalty before competitors bring out their products. To be a first mover, you need to produce and deliver a product quickly, and this means you must have access to data from potential customers. Focus groups are ideal. They involve up to ten people and can be held in 3 to 4 cities, ensuring you get different ideas and reactions within 90-minutes.   

The focus group content must include observations about facial expressions, body language, social cues in language, and past recollections. The results provided by Customer Perceptions as a market research company are succinct, user-friendly and easy to interpret. 

It Is A Time-Saver 

Focus group interviews are led by a trained moderator. For 30 to 90 minutes, people discuss a set list of 10 to 12 questions designed to draw thoughtful responses from participants. Everyone is encouraged to share their different opinions and ideas as honestly as possible. Members of the focus groups are recruited based on their purchase history, demographics, activities, interests, and views. They generally do not know each other. 

The condensed nature of the focus group methodology means that a large number of opinions and feedback are sought on multiple aspects of a product within a limited set of time. It saves time during the research phase of product development, speeding up the journey of new merchandise or services to the marketplace.

We operate in seven industries, and after nearly thirty years, Customer Perceptions are specialists at creating bespoke market research solutions for our clients. Do you need customer satisfaction surveys, public opinion polls or focus groups? Contact us today.

The Importance of Competitor Analysis

The Importance Of Competitor Analysis

Many businesses understand the importance of competitor analysis but generally only focus on pricing and products. With the arrival of social media, understanding your competition’s marketing techniques and how you can improve your company’s digital marketing strategy has become as important as pricing and product research. What are some benefits of conducting a competitive analysis?        

  • Customer reviews highlight what your competitor’s product lacks, offering you the opportunity to add elements to your product that will meet their needs.
  • You can identify marketplace opportunities on which to test out new marketing strategies your competition is not using.
  • Learn what your competition is doing well and what you need to do to stay relevant and competitive in your industry.
  • Gain a benchmark against which you can measure your company’s growth. 

At Customer Perceptions, we offer competitor analysis services that measure your competitor’s customer journey, pricing, point of sale (POS), promotions, policies and procedures. Let’s look in more detail at competitor analysis.

They are Industry Specific   

Are your ideas about your competitors and the market up to date and accurate? An industry-specific competitor analysis creates a more comprehensive picture of the market and industry in which you compete. There are similarities between industries, but there are also differences. The hospitality, retail, and financial industries offer promotions as part of their business strategy, but their target market and products differ.

Do you want to measure, compare and benchmark your performance against your competitors? We can do a competitor analysis for clients in the travel, restaurant and dining, retail and online, hospitality and tourism, medical and care, financial, and professional services industries.

Strengths & Weaknesses From Other Businesses Are Identified   

Have you spent time with your sales, marketing, and customer service teams to gather the data you want to use to benchmark your company? The next step is to collect information about your direct competitors to learn about their strengths and weaknesses. Research the following factors:

Product. How do the qualities and features of the products compare to your own?

Pricing. Can you estimate their cost structure? What is their discount policy? 

Place. What is their geographic reach compared to your business?

Promotion. What is their presence on social media, and what marketing tactics are they using?

Positioning. Review their websites, catalogues etc. What is their unique selling proposition?

Reputation. What are people saying online, and on social media about your competitor’s products and services?

People. How big is the organisation? 

Partnerships. Who are their suppliers and how long have they been working together? 

Once you have all the above information, do a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for an effective competitor analysis.  

Market Opportunities are Revealed   

A competitor analysis will reveal market opportunities, however, look further than your direct competitor towards indirect and even substitute competitors. They might offer other insights and markets you never considered. Indirect competitors are businesses in the same category as yours but have different clientele, products, and services. An example of an indirect competitor would be a winery and brewery. Both sell alcohol, but their products and clients are not the same. A substitute competitor has different products and services than you, but they target the same customers in your geographic area. They might be doing something distinctive to attract potential customers.

The Most Important: Performance Evaluation   

Once you collect all the information and complete the SWOT analysis, it is time to do a performance evaluation. How does your business, products, or services compare to your direct, indirect or substitute competitors? What competitive advantage do you have that appeals to your target market? When you understand where your brand is positioned, make strategic decisions that help grow your brand and translate those into actionable results with timelines. 

At Customer Perceptions, we follow a partnership approach. We adapt our solutions to suit your changing business needs. When was the last time you benchmarked your business against your competition in the marketplace? The importance of competitor analysis cannot be underestimated. Contact us today.