21 February 2022

Why data is the driving force for new market launches:

The exponential growth of e-commerce, online retailing and remote working means launching and maintaining a business in new and varied international markets is no longer the slow and deliberate undertaking it used to be. Retailing as an industry has been entirely overhauled since online giant Amazon began its meteoric growth at the end of the last century.

 

Now, online shopping outperforms real-world spending for virtually every demographic group; price flexibility is more prevalent than ever, both online and in real-world stores; and high streets and shopping malls have been forced to introduce technology and experiential elements to keep consumers interested and engaged rather than gravitating .

 

Amazon has also helped demonstrate how new retail businesses and products can successfully launch into unfamiliar territories, without the cost and commitment of putting down physical roots, thanks to secure supply chains, solid strategies and, most importantly, the detailed use of data.

 

Power of promotions

Any business or product that’s planning on breaking new geographical ground can gather the right information by using intelligent promotions in a creative way.

 

Market research no longer means knocking on doors, clipboards in hand – it’s all about deep-diving into data to ensure you make an impact.

 

At Insyt, our promotions do just that. Our initial and ongoing research into target markets provides the consumer data you’ll need to get a great handle on what works and what doesn’t in any new locations or sectors. Our proprietary promotions dashboard also makes it easier to monitor campaigns, giving you better and more meaningful insights into areas of success or where improvements are needed.

 

Creative campaigns are only half the offering – they create the buzz any new arrival needs in a successful launch, but the data that drives the campaign is the key to success.

 

Making a splash – without the risk

Delving into uncharted waters is exciting, and product or business launches need to be bold and brave to catch the eye – but it can also be intimidating. That’s why our risk-managed approach, backed by our access to exclusive underwriting relationships means your promotions are safe hands.

 

Our redemption model uses specialised algorithms to predict our clients’ likely customer response rates with confidence – using data, market conditions and industry scoping so our proposals are always strategic and insights-led, and therefore optimised for success.

 

At first, new territories where your business has no physical presence may seem daunting and difficult but, with our help, you can launch into an unfamiliar market in an informed, intelligent and insightful manner.

 

At Insyt, we offer a wide range of bespoke promotions solutions that can help your business make inroads into new markets. It’s all underpinned by our risk-managed approach, which enables us to develop bold and adventurous solutions for you.  Get in touch with us today to see how we can help your business: Natasha.blest@ insyt.com