We partnered with a retail client to increase market share of a high-potential customer segment by conducting market research to identify pain points, developing a solution roadmap, and creating a prototype for an innovative digital experience aimed at increasing customer engagement and retention.
Challenge
Our client identified a customer segment where they had high potential for increased market share. They needed help building and executing a plan to acquire, engage, and retain those customers.
Approach
Understand the Customer: We worked first to understand the market size and potential, the competitive landscape, and the company’s assets and capabilities to leverage. We also conducted research to understand customer pain points and emotions throughout their journey through this particular life event. Next, we identified key pain points that competitors were not addressing well.
Identify the Best Solution: Based on those gaps, we ran a series of workshops to determine potential experience features and flows that would address customer pain points uniquely from the competition. We ran quantitative research to determine what features resonated the most with customers and would cause them to choose and stay with the retailer, and then identified the greatest revenue-driving opportunities within that set, as well as conducting a feasibility assessment.
Execute: We documented the resulting roadmap and created concepts for key experiences. We built a prototype for the primary experience solution and are in the process of building an innovative digital solution to market test and iterate.
Value Delivered
- A vision, strategy, and roadmap to increase market share
- A prototype to use as a communication tool and for usability testing
- A new, in-market digital experience to acquire, engage, and retain new customers (in process)
