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As a marketer, typically you want to know something about your target market before launching a large and possibly expensive campaign.
Wyzoo's free tool generates descriptive analytics to provide a comprehensive profile of your customer or responder list. The free report of more than 40 pages will tell you about their demographics and what their preferences are. It will enable you to identify which characteristics are relevant to pinpoint your target market, and equally important, eliminate factors which might cause you to waste money or reduce your ROI.
You've accumulated a customer or responder list. It might be only a few hundred entries, or it might be 500,000. It could be all that you have is a list of names and addresses. There is likely a lot about your potential customers that you do not know. This information is vital if you want to launch a successful advertising campaign.
Choose media channel01
Choose which media channel you wish to use for marketing, and then upload a file of your customers in CSV or Excel format.
Upload your database02
- At least 100 records
Name, Residential Street Address and Zip Code
- Other fields are OK but will be ignored
- Please note that business addresses or addresses outside of the USA are not currently supported.
Establishing your primary market area03
From this data, Wyzoo then draws a map displaying the locations of your customers, and using our advanced algorithms, establishes where your primary markets lie. We also separate out any outliers, or those which do not fit the pattern of most of your customers.
Enriching your dataset04
Your data is enriched and compared against our database of over 240 million U.S. consumers.
This database contains some basic information about the following:
- Homeowner Status
- Educational Level
- Buying Interests
- Geographic Location
- Estimated Net Worth
- Age range
- Number of children
- Relationship Status
- Types of Credit Cards owned
Creating unique persona based on your report05
At this step we generate your Market Penetration Index (MPI) values based on your data, on a single page that we call a “Persona”.
The report includes a summarized customer persona which best represents your target market. Each factor is weighted using a Market Penetration Index (MPI) and sorted to identify which are the most important segments of a measured variable within each marketing channel.
We then provide you with more detailed analysis showing the relationship between your customers and others within the same trade area for each factor listed. Your data is provided in both tabular and graphical representations:
What is MPI?
MPI is a weighting of the importance of a market factor using the following formula:
Interpreting what MPI means is simple
A score of 100 being neutral, the higher the number, the more relevant a segment is for your market. If a segment has a very low number, such as 20-30, it is considered to be negative, and should very likely be excluded from your marketing activities.