How to win back fast-food customers after years of rising prices
With rising prices over the past few years, how can fast-food restaurants regain customers in a price-sensitive market?
Customer journeys are more complex than ever. The path to purchase involves a labyrinth of touchpoints, triggers, and loops. With consumers moving from awareness to purchase quickly, our need to identify where each consumer is most susceptible to nudges and how to efficiently move them towards a purchase is critical.
At the MRS Data Analytics 2021 Tools and Methodologies Conference, we presented a new analytical approach to detangle customer’s path to purchase.
SKIM analytical experts shared a case study highlighting how a simple and intuitive set of survey questions, combined with sophisticated pattern recognition modelling can unlock critical journey insights. By uncovering naturally occurring customer journeys segments, based on the infinite number of potential sequences, we can pinpoint which offer the most economic value and which are most capturable by a brand.
Presenters:
- Nicolas Camargo, Senior Manager Analytics
- Michael Hetherington, Director APAC
About the presenters:
Nicolas has over 6 years of experience in market research. He specializes in statistical analysis and advanced analytics models such as segmentation, journey mapping and conjoint analysis. He holds a master’s in economics from Tilburg University as well as a bachelor’s degree in econometrics and economics.
Michael is the APAC Director, based in Singapore. His global outlook has driven him to lead insights teams and be a trusted partner to clients in Europe, America, and Asia. While currently leading SKIM in APAC, Michael is also focused on applying cutting edge advanced analytics to deliver actionable insights across various complex business challenges. His experience covers consumer packaged goods, consumer health, technology, financial services, and telecommunications.
About MRS Data Analytics 2021 Tools and Methodologies Conference
MRS Data Analytics 2021 Tools and Methodologies Conference hosts a morning of case studies demonstrating the application of advanced analytics for improved modelling and segmentations, customer journey mapping, brand purpose analysis, media planning, automated benchmark analysis and chatbot based insight generation.
The Market Research Society (MRS) is the world’s leading research association based in UK. For all those who need, generate, or interpret the evidence for making good business and policy decisions.
