NEW FEATURE TESTING FOR A HOME SECURITY COMPANY
A large US home security company was considering the introduction of several new and advanced features to its home security system offering. The company sought out OGC to help evaluate the potential added-value of these new services to their existing and potential customers, determine which segments of the home security market would be their most likely customers and at what price, and understand what aspects of the new offering were most attractive, in order to tailor their marketing and messaging accordingly.
By composing, programming implementing, and analyzing a targeted on-line survey, OGC was able to measure market receptiveness to the new features. The collected survey data was considered by use of the following analyses:
Feature evaluation: Deep dives conducted for each feature individually, measuring customer awareness, added value and impact on the company’s image.
Theme selection: Using respondent evaluations and qualitative data, main themes for why customers were interested in a home system with a given specific feature were selected for the top-rated features.
Index score: A generic index score for feature comparison, which is also available for future features, was developed for this data set.
Through these analyses, OGC was able to describe the demographic makeup of this market and determine not only which of the new features were most attractive to the different market segments, but also why they were appealing and at what price.
Through deep-dives on each feature, including text analysis of open-ended responses, OGC could report in greater detail customer receptiveness to features, as well as general themes customers associate with security systems of this type.
Based on OGC’s report, the home security company was able to allocate its marketing resources toward the most receptive segments of the market, and set their pricing accordingly. The firm launched a successful campaign to attract new customers and preferred features were highlighted in their materials, while features that were evaluated as less appealing in the survey were excluded from future publications.