Agility, interconnected data and actionable research insights are the standards for effective marketing research. Done correctly, this guarantees clients a tactical competitive advantage over competitors. As such, this approach has become a hallmark of BMi Research.
Servicing many leading South African brands, including retailers, FMCG, education and services companies, BMi Research has long provided a cohesive solution using an agile and customised approach to ensure that clients meet their particular business objectives.
BMi Research’s ability to take different data sets, extract meaning and value from these insights and then deliver actionable strategies, has seen the firm become a valued insights partner to its clients.
Jenni-Ruth Coggin, CEO at BMi Research says the firm’s focus is to provide research that is appropriate for the ‘new normal’. This has seen it move into the fields of neuro-science, statistical modelling and the online space more significantly with the introduction of a number of innovative and relevant products.
BMi Research’s Consumer Behaviour and Business Insights division specialises in Qualitative and Quantitative consumer and B2B insights, including modern day solutions for brand health, market sizing, advertising effectiveness, mystery shopping and online customer experience.
The division has been focusing on three products in particular: its Brand Gauge Equity Model, phase two of the CX Online offering, and an advertising measurement product called Ad-Apt, reveals Michelle Daines, Consumer Behaviour and Business insights Research Manager at BMi Research.
The Brand Gauge Equity Model, which has been tested and piloted and is now ready to be rolled out, measures key brand indicators over time, including brand imagery and saliency, price perceptions and levels of differentiation.
CX Online is an online customer satisfaction measurement tool which utilises mystery shoppers to assess and evaluate the online shopping experience. The tool can also be used to track competitor sites and deliver benchmark assessments. This year the CX Online tool will launch a second round of pilot studies, incorporating a wider range of sectors.
Ad-Apt is a neuro-science product which tracks eye movements to measure consumer responses to advertisements.
BMi’s Pricing Intelligence Solutions division provides on shelf pricing, competitor pricing and basket analysis as well as advertised promotional pricing, adspend and share of voice insights. The newly launched e-commerce price tracker allows clients to remain abreast of market moves and keep an eye on price changes across crucial SKUs, categories or brands.
In addition to offering price solutions, the division is expanding its offering with a product which allows brand owners to track multiple price points for on shelf price, promoted price and e-commerce pricing in one dashboard, reveals BMi Research Commercial Director Cindi Collett.
“We focus on providing a ‘Central Source of Truth’,” explains Collett. “Essentially, this is about our ability to aggregate data across research solutions to enable an integrated output to clients with pricing intelligence provided at three different touchpoints (in-store, advertised promotions and e-commerce), as well as market quantifications and consumer insights. At the same time, our research insights incorporate actionable findings to ensure that our results feed directly into each client’s marketing plans.”
What makes BMi Research different, says Coggin, are strong client engagements and ongoing client partnerships which ensure that the firm delivers on each client’s unique objectives. The firm avoids standardised global research models, instead customising offerings for local South African markets based on specific client needs.
“Given a rapidly evolving marketplace, the need for brands to keep their pulse on the current environment and consumer behaviour has never been greater. Using technology, BMi Research has positioned itself to provide clients with time relevant research that allows them to maintain their competitive edge,” concludes Coggin.