Omnyfy Research was tasked with examining all fundamentals of the 2012 Baby & Toddler Show in Melbourne, including key market segments, growth opportunities and features with a view to improving the organisers ROI. A key outcome from the research was an analysis of the feature offerings at the show, with a view to optimising the feature setup at future shows.
Using a tool called Gap Analysis we were able to identify an issue with their ‘Pram Trial Track’.
To conduct this Gap Analysis we design the questionnaire in a way that enables us to perform a regression analysis to generate a derived relative importance value for each feature. These importance values are plotted on an x-y axis chart, against the respondents’ satisfaction with each feature. Such a tool allows us to easily identify features that are either relatively unimportant to the market (which can be reduced in size or omitted altogether from future events to reduce expenses), or features that are important, but underperforming (so they can be improved for future events and marketed more effectively to increase visitation). The final output of from a Gap Analysis is plotted on an x-y axis chart that clearly illustrates the strengths and weaknesses in the proposition. The illustration below is similar to the actual outcome we generated from respondents on this research project.
On the surface, it looks as though the organiser might consider reducing their investment in the Pram Trial Track (based on a low level of importance). As part of Omnyfy’s standard research package however, we undertake a thorough examination of the market. Typically we run segmentation based on demographics, psychographics, attitudes and behaviours. In this case, things became interesting when we looked at the most valuable visitors to the show (based on their spend at-show and post-show). As illustrated in the chart below, the Gap Analysis for the top 20% spenders was markedly different from the average respondent. The Pram Trial Track was of utmost importance. As it happens, prams are one of the more expensive and difficult purchases for parents, which means that the Pram Trial Track was both a driver of attendance and a source of disappointment for the most valuable visitors to the show.
From this insight, we were able to provide a bespoke package of statistics relating to demographics, value and purchase propensity, assisting the organiser in securing sponsorship of the Pram Trial Track, and increasing engagement from major pram manufacturers and distributors.
We design, administer and manage high quality surveys, leveraging your existing exhibitor and visitor databases.
From a strategic point of view, one of the most powerful insights an event organiser can establish is what motivates their visitors and/or exhibitors to participate in their event. Gap analysis helps understand the variation between expectation and reality.
Using state-of-the-art tools and techniques, skilled minds and a passion for creating commercial outcomes for customers, Omnyfy offers a wide range of options for gathering and tracking customer insights.