We’ve done a lot of research in the past. How is the ROI process different from customer research programs other companies have tried to sell us?
First, we build a strategic picture of the business from the “bottom-up.” We integrate very detailed customer information with your financial data (current sales, profitability, and resource productivity) at the classification level. This allows us to identify, monetize (express all the findings in currency and not just percentages) and prioritize your best opportunities – by customer segment, merchandise classification, price point, style, brand, store type, channel, region, etc. For each classification – and in total – we quantify the amount of lost sales and profits and identify the reasons why regular shopping customers make their purchases elsewhere. We differentiate between the “absolute” amount of lost sales and the “real” opportunity for our client at the merchandise classification level – where our client is at least in the “consideration set” among its customers. Second, our proprietary software system allows us to collect minute detail at the merchandise classification level
Related Questions
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- We’ve done a lot of research in the past. How is the ROI process different from customer research programs other companies have tried to sell us?
- Does Irvine have a separate review process for unsolicited inquiries to its different programs?
