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PMG Completes Software-as-a-Service (SaaS) Research

May 08 2018
16
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Priority Metrics Group (PMG) just completed a Customer Insight due diligence engagement for a private equity client looking at making an investment in a software-as-a-service (SaaS) provider.  In less than four weeks, the PMG team worked with the client team to develop and execute a customized approach and discovery tool to assess the current customer situation for this time sensitive decision.

Determining B2B Sample Size: Don’t Get Confused by B2C

One of the most common questions asked by clients when designing a B2B research project is “What is the sample size I need to ensure the data is ‘statistically valid’?” These sample size questions typically include common statistical terms such as margin of error, randomness, confidence level, and statistical validity. In most cases we find that the client possesses limited knowledge of what these terms actually mean, or the role they play in determining a sample size.  

Misreading Attribute Importance: A Common and Often Costly Mistake

Jan 12 2018
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Improving performance - particularly in those areas that are important to customers - has been a staple of continuous improvement programs for years.  Market research is routinely utilized to identify attributes that are important to the customer, measure current and competitive performance, and develop growth strategies based on the research findings.

Robotics: A Potential Savior to Many Industries

Oct 09 2017
19
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While attending a PackExpo last week, I couldn’t help noticing the increase in emphasis on robotics, especially those focused in areas of the manufacturing process that traditionally utilize significant amounts of manual labor.  Discussing my observation with others at the show, the difficulty of finding labor in today’s market was an overriding theme.  My subsequent research supported the observation, with construction and agriculture appearing to be two of the hardest hit industries.

Business Growth Strategy: An Ongoing Process

Aug 22 2017
15
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For many companies, business growth is often driven by unforeseen or unique market events that drive demand.  In any given year, the “stars may align” for a business and result in unforeseen growth.  An example of this is the topic of a recent article published in Plastics News, “A solar (eclipse) powered boom for specialty film business.” For some specialty film producers, the stars may not have aligned, but the alignment of the moon and sun created a once in a lifetime growth opportunity. 

Improved B2B Customer Experience Drives Increased Revenue, Profitability and Customer Share…and May Even Be the Key to Survival.

Aug 11 2017
28
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PMG’s Customer Insight™ is designed as a robust, customer-centric management tool which collects both quantitative data and relevant qualitative data to support growth strategies. The final deliverable is a fact-based, data-driven report providing guidance on how to better align with your customers to strategically grow revenue, profitability and customer share.

Marketing in the Boardroom – Winning the Hearts and Minds of the Board

Jun 08 2017
6
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Marketing in the Boardroom is an important book for any aspiring marketers who are moving up the career ladder, particularly those who are writing or giving presentations to the Board. It is also an important book for their organizations, particularly those that struggle to give marketing the support it needs to create customer-led strategies that will drive business growth. 

Building B2B Brand by Improving the Customer Experience

Mar 22 2017
12
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Recent research into the current focus of B2B marketers has pointed to two interesting trends guiding much of their activity around building their B2B brands: (1) moving from a price driven focus to a value-based approach and by (2) placing more emphasis on the customer experience. Although these highlighted areas of focus were reported as unique separate initiatives, the concept of enhancing value and improving the customer experience are strongly linked and can be considered holistically.  

Understanding Delivered Value: The Key to Market Positioning and Growing Market Share

Oct 19 2016
36
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In the B2B world, market share is pursued and defended constantly. On a customer-by-customer basis companies constantly exploit opportunities to take share from competitors and develop strategies to prevent losing share.  Sustainable growth is dependent on developing solid strategies in both of these areas. So how do you begin to understand all of the market dynamics associated with developing a comprehensive strategy designed to protect and grow market share? 

Grow Your Business by Strategically Improving Customer Advocacy
(Part 4 of 4 – Customer Satisfaction Series)

Sep 19 2016
27
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Since being introduced in Frederick Reichheld’s article “The One Number You Need to Grow”, the concept of measuring customer loyalty through a single question survey has become a common practice among many B2B companies.  The power of this single metric, “Net-Promoter Score” (NPS), is built on the concept that “word of mouth” is a strong driver of growth.  According to Reichheld, “research shows a strong correlation between a company’s growth rate and the percentage of its customers who are “promoters” – that is, those who state they are extremely likely to recommend the company to a friend or colleague. The Net-Promoter Score (Figure 1) is calculated by subtracting the percentage of customers who say they are unlikely to recommend from the percentage who say they are extremely likely to do so.”  

 

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