E-COMMERCE ECONOMIC VALIDATION | BUSINESS INTELLIGENCE | FRACTIONAL MARKETING } ADVISORY
Business Intelligence and Economic Validation Analysis
Popular marketing terms such as sales pipeline and sales funnel do not correctly describe the customer journey. Sales prospects don’t drop into the top of a funnel and effortlessly slide through a pipeline and pop out the other end as a customer. In reality, a sales “funnel” doesn’t recognize the different forces impacting the customer.
The customer journey is instead better represented by an inverted funnel, or what we refer to as The Mount Everest Customer Sales Journey Model. This mental marketing model recognizes there are often multiple trails (sales segments) to the top of the mountain (where each sale occurs).
The Business Intelligence and Economic Validation Analysis seeks to prove or invalidate the business model. The purpose is to show under what circumstances will the economic model of the business be viable.
Website Teardown and Analysis
A website teardown is the practice of analyzing a website “line-by-line” for the purpose of validating technical performance, user experience, and the user interface. We look through the lens as if we were landing on the clients website for the very first time, as a target customer. We analyzed how the customer-facing messaging is aligned with our understanding of the customer. The feedback we provide is used as a guide to help the client improve messaging, design, and overall usability of the website.
Value Proposition Analysis
A value proposition refers to the value a company promises to deliver to customers should they choose to buy its product. A value proposition is also a declaration of intent or a statement that introduces a company's brand to consumers by telling them what the company stands for, how it operates, and why it deserves their business. It can be presented as a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement, if worded compellingly, convinces a potential consumer that one particular product or service the company offers will add more value or better solve a problem for them than other similar offerings will. The essential value proposition question is: “If I am your ideal prospect, why should I buy from you rather than your competitor?”
Customer Acquisition Cost Analysis
The Customer Acquisition Cost Analysis answers the essential question, "What's the Most You Can Spend to Acquire a Customer and Still Make a Profit?"
This analysis translates Ad Spend, Channel Traffic, Awareness, Impressions, Click-thru-rates (CTR), Users, Cost per Marketing Qualified Lead, Cost per Sales Qualified Lead, Sales Conversion Rate (CVR), Average Order Value (AOV), and Profit per Order to determine the customer acquisition cost (CAC).
Consumer Sentiment and Polarity Scoring
The Consumer Sentiment Analysis is an important heuristic model because it acknowledges the topics which are most important in the minds of the consumer. This score will help designers, copywriters, ad agencies, and your sales team to understand the best messaging during customer-facing activities.
The analysis uses Lexicon-Based Polarity Scoring to support Opinion, Product, Service, and Process Improvement Planning. It is a manual heuristic model which first recognizes nouns and verbs associated with consumer sentiment and then assigns a negative or positive polarity score associated with the intensity of the sentiment identified during public reviews and comments. Once identified, these topics are categorized by Intensity, Repeatedly, Scale, Writing Level, and Linguistic Tone.
Competitive Force Score Analysis
Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and growth in market share. This means that your direct competitors are targeting the same audience as you, selling the same (or similar) products as you, and following a similar distribution model.
Knowing and understanding your competition is a critical step in designing a successful marketing strategy. If you are not aware of who the competition is and knowledgeable about their strengths and weaknesses, it's likely that another firm could enter the picture and provide a competitive advantage, such as product offerings at lower prices or value added benefits.
Identifying your competition and staying informed about their products and services is the key to remaining competitive in the market and is crucial to the survival of your business. However, the nature of digital marketing and ecommerce can often be an illusion. Weaker companies can appear more competitive than they really are, and the companies which pose the highest competitive threat are not readily obvious.
The Competitive Force Score algorithm seeks to predict a company's competitive strength by measuring disparate data and rendering a numeric value. The higher the value or score, the higher competitive force a company has on the companies scoring below it. The analysis focuses on five competitive areas: Search, Website, Ads, Social Media, and Reputation.