Our client recently introduced a cutting-edge, Internet-based service in the financial services market. Early market success was essential for being viewed as the industry standard-setter, yet the newness of the concept meant that no historical adoption patterns existed.
Schmidt conducted a comprehensive segmentation analysis to identify the likely early adopters. The segmentation model was 86% accurate in predicting the actual adopters of the technology. Schmidt also identified compelling messages for converting prospects into customers, based on key concerns and desired benefits. Key communication channels and effective allies were also specified.
Our client’s ability to identify likely adopters increased by a factor of 4, dramatically lowering customer acquisition costs and accelerating market penetration.