Tech Company

Targeting for a New Product

Challenge

A tech company had a short timeline and a limited budget for a new product launch. DIY wasn’t a viable option for the client, as they didn’t have the skills or access to the tools.

This client didn’t have reliable information on who their target audience was, and the price of the product was starting to raise concerns that the product wouldn’t have a successful launch. They needed to know who was interested in the product, would they be willing to pay the premium price for the product, and how they should communicate to these prospects to drive sales.

Solution

ENGINE quickly deployed a 3-day online community, via ENGINE’s Digital Hives, to engage over 200 potential prospects to get their feedback on the product and the pricing. We were able to hone in on prospect characteristics. Based on what we learned in this quali-quant phase, we developed an efficient online survey to size the target and identify purchase drivers/barriers.

In this case, we used a DIY tool to speed up the process. Leveraging the DIY tool on the supplier side allowed us to meet the timing and budget requirements. With our team leveraging these DIY tools, we were able to provide incremental value through our expertise and experience, guiding the client on the most efficient way to get at the learnings they needed to make critical business decisions on the table.

IMPACT

 

Having a small team of analysts who understood the clients’ issues and the decisions to be made enabled ENGINE to make quick work of diving into the data to serve up insights. This allowed the client to more efficiently evaluate potential strategies. They had the time and space to consider context, ease of implementation, relative impact, etc., while our team focused on uncovering the insights, with an informed, yet objective eye. This “clean” view enhanced the breadth of recommendations brought to the table, some likely would not have surfaced were the client working alone.

Based on what we learned from prospects, our client adjusted their marketing campaigns, resulting in more effective executions and placement. The client was able to craft specialized messaging and targeting to drive prospects down the purchase funnel. We used these survey data as the foundation to create a custom audience for activation across online, CTV, and Facebook.

This research created a tremendous amount of value for our client, and we did it over the course of a couple of weeks, all within their budget. We unlocked opportunities the client hadn’t identified or even considered. Concerns about the launch subsided as fact-based insights provide the direction the brand needed to have a successful launch, all in time to inform decision making.

ENGINE helps you unlock new opportunities.


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