Assessment and market development is mapping and identifying every single one of your company’s traits and attributes so that your management team has detailed knowledge on where you’re company are better, where you’re company are average and where you’re company are worse of than best practice, peers, competitors, and market leaders. Enabling the management team to develop traits and attributes they need to gain a competitive advantage.
It is also about identifying which attributes, traits want, or needs that made today’s customers and clients trigger their purchase in the first place. This provides your management team with knowledge on which traits and attributes they need to reinforce to strengthen the company’s customer and stakeholder relations. The service assessment and market development can also identify and map traits, attributes, needs, and wants in blank segments. Blank segments are prospects and stakeholders that, for some reason, are out of your company’s reach today. This way, your management team knows which traits and attributes the company must be developed to reach and grow into those blank segments.
When traits, attributes, needs, and wants for existing clients and blank segments are defined and fed into our matrix. Our algorithm goes to work, creating mirror audiences for each segment in existing and new markets. Mirror audiences are prospects who have identical digital profiles to your existing clients, stakeholders, and blank segments. That means quadrupling the numbers of potential core customers. It is also having detailed knowledge on which traits and attributes that need developing to conquer a quadrupling of the blank segment.
There is no international standard such as ISO, veritas, or any other, that we can apply for or comply with regarding our matrices, algorithms, or models. So to ensure trustworthiness and credibility to our processes and solutions, we have decided that everything we do or develop has to originate in A level research. The same goes for our data gathering. Any data used or utilized in developing our services, matrices, algorithms, or models must be gathered in accordance with established scientific methods.
Consumer economics and behavior in the b2c and b2b markets are constantly evolving, so any assessment has a limited lifespan. We recommend all our clients to redo the service assessment and market development every 18 to 24 months unless there is a major change in the industry who triggers the need for an immediate response. Assessment and market development has a one-off cost of € 4000,- and upwards depending on the size of the organization.
Any company associated with LFCG will have access to any updates in our models, metrics, algorithms, and research. We will upgrade all our services twice each year, thus providing our associates with detailed information on what has been done, anticipated effect, recommendations on any new technology to implement, and educational videos and instruction if needed on what and how.