The startup in context is an e-commerce company, which has the vision to empower offline stores by aggregating their offers on its platform. Backed by a huge logistics company, they were looking for a go-to-market strategy to expand their operations in various cities of India.
Before on-boarding the businesses on their platform, a rudimentary concern was to gather accurate information about the prime stakeholders and determine the prevailing market trends in retail domain. Precisely knowing the retailers’ sentiment was perhaps proving to be the biggest and most important element in this startup’s journey.
The Testament suggested a Market research cum lead generation study in 4 cities – Delhi, Bangalore, Kolkata and Hyderabad with a sample size of 400 selected retailers (100 for each city). These 100 retailers were carefully curated and scouted based on clients’ most critical business objectives.
- The Testament conducted a comprehensive demographic research and consulted some professionals from the retail segment to gauge the market sentiment
- A questionnaire was formulated after due consultation with psychologists, which included all the key data points needed for the research. The prime objective was to remove any sort of bias and get the most accurate reflection of the market sentiment
- 3 resources in each city were hired and trained through dynamic modules which included videos, documents and presentations and were thereafter deployed on the ground
- All the data points were recorded along with the on-ground voice recordings, GPS Co-ordinates, photographs and other attributes via The Testament’s in-house app Market Acquire® for a streamlined and zero-loss process
- Data was analyzed extensively. Inferences and business advises were framed after consulting some of the top veterans of the industry
- The report was presented to the founding team of the client to great response and action
- The company obtained the wholesome data of 400+ prospects who had context to be able to get on-board as first movers, whenever the client approaches them
- The inferences and advises helped the client make critical changes in its product to make it gel with its prospective clients’ comfort
- The client got solid contextualized data which could be shown to its investors as a testament of thorough market understanding
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