Source of Volume & Migration Analysis
Where are your 1st time buyers coming from?
Are there opportunities being missed with your repeat buyers?
Source of Volume/Migration analysis is designed to ascertain the following information:
(1) Where new customers come from, both in the aggregate as well as at the major model level. For example, a first-time customer, previous customer (if appropriate), previous competitive customer (if appropriate), previous new customer and previous new competitive customer.(2) Purchase cycles.
(3) The migration patterns of customers.
This research essentially answers the following questions:
(a) Where do customers come from?
(b) What is the purchase cycle?
(c) What factors influence this?
(d) Are there any significant sub-cycles (i.e. a specific sub-group that buys at regular intervals)?
(e) What percent leave the category?
(f) Of those remaining, how and where do they migrate? Entry and exit level points/models are established as well as the value of the market.
If you desire to identify sources of new customers and maximize retention of current customers, this is definitely an assessment you should periodically conduct to fully understand the purchase cycle.
| Actionable Insight(s) | Why Conduct This Type of Research | Outcome(s) To Be Expected |
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Where are your first time buyers coming from? Are there opportunities being missed with your repeat customers? YOU LEARN for example
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Understand customer entry and migration patterns Targeting |
Identification of all potential customer segments along with a complete marketing and contact strategy |