Live Pickfu: DIY Ecommerce Market Research Polling Tool
Sponsored at and by Amazing at Home
Anthony Cofrancesco, Industry Liaison team member from PickFu, a DIY market research firm, joins Amazing at Home in this introductory and instructional video. Anthony works with some of PickFu’s biggest clients, assisting in building case studies with consultants and agencies in the online marketing industry.
Amy of Amazing at Home has a knack for introducing her client base to electronic commerce industry tools to add to their existing arsenal of strategies. In her courses, she instructs on ecommerce tools and their applicable usage. From her perspective what stands out about PickFu is that it brings ‘Visualization to the survey process,’ an aspect lacking in similar tools currently available on the market.
This presentation’s focus is to shed fresh and exciting light on an affordable market analysis tool, market polling techniques, instant market feedback, instill confidence in you the seller, engender trust in your product launches and product design decisions. Market research polls and surveys offer valuable and indispensable information that provides feedback from real customers.
Many sellers do not believe that market research testing methods are an essential component of starting and growing their business. You might be thinking, maybe I do not need this, maybe it is not that valuable. Consider that market research is an efficient way to collect information about customer needs and market drivers. It is a tried-and-true strategy to gather pertinent information and feedback from customers. Competitive analysis a subset of market research is the process of categorizing and evaluating your competitors to understand their strengths and weaknesses in comparison to your own.
Anthony stresses that major brands use market research all the time to their advantage. When they launch a product, they spend $45k-75k per product. They need to be certain when they put something out to market that they are not making huge mistakes or overlooking something, and that the product is optimized and going to hit the market as smooth and strong as possible.
Larger brands allocate about 1% of their total revenue. PickFu users spend roughly 1% of gross revenue on market research.
With a market research polling tool such as PickFu, the seller can identify the best product design, choose the most appealing product images, and improve product listings. In addition, the PickFu model will assist the seller in the overall branding process and in optimizing ranking in the chosen market.
Per Anthony “What differentiates PickFu from other survey tools is the unique ability to target select demographics.” The PickFu panel, numbering 10,000+ panelists, is comprised of U.S. based, native English-speaking respondents that represent a wide swath of demographics. You can select your target group, which is comprised of a diverse mix of age, gender, income level, ethnicity, education, as well as behavioral and psychographic traits. There are other additional demographic filters that can also be applied. A popular audience available to test on PickFu is Amazon Prime members.
PickFu invests in curating each panel member to ensure that every response is authentic and helpful. Note that survey panelists are paid a stipend for their services.
A key aspect is the follow up feature a customer can do with panel responders. There are charts that break down the responses by the demographic features that were preselected. A genuinely nice feature of PickFu is that each respondent explains why they chose what they did. These comments are often remarkably insightful. Many customers say it is the most useful part of the service. You can communicate with the responders and query them a bit deeper about specifics of the other options presented. Because you can communicate in this manner, you can elicit excellent information from the responders and there may be no need to run further tests and you can finalize your decision based on just that information alone.
PickFu panelists are strictly bound to a nondisclosure agreement. Confidentiality is key. Panel members are also trained to understand that they are making decisions for real businesses and need to be thoughtful of that.
The company has been building their audience base for over 8 years.
Anthony does a fantastic job in his delivery and explanations provided of the following:
- A Quick Demo of PickFu—people tend to be nervous about using this tool so we will do a live test.
- Defining the inner mechanics of PickFu? People often ask, how does it work and how should I be using it?
- In-depth look at the original test study case process (set-up at the beginning of video) and an analysis of the results
In conclusion, ponder these highlights of the PickFu brand:
- PickFu is lightning fast. Other tools might take days to get feedback. PickFu results return in 30 mins to an hour.
- You can test up to 8 options–text, video, images, audio, etc., whatever creative asset you need to get feedback on
- “PickFu allows you to know what sells, before you sell it”
- Initial USP concepting: Get feedback on the essential elements of your product and brand.
- Pre-Creative Direction: Get insights and creative direction from competitors prior to creative work.
- Even if you are brand new, you will start to see a positive ROI (return on investment) the metric that shows the profits generated by a specific marketing action with just a single test
- PickFu is 100% private!!