First Insight Announces Predictive Analytics Solution for Retailers and Brands

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FirstInsight_logoFirst Insight, a leading provider of solutions that empower brands to incorporate the voice of the customer into the design and merchandising of new products, today announced the launch of InsightTargeting, a solution enabling retailers and brands to create highly targeted products and promotions through predictive analytics.

Many companies today are struggling to understand their customers and how to successfully market to them,” said Greg Petro, President and CEO of First Insight. By translating extensive customer data into in-depth insights, InsightTargeting helps retailers and brands make key marketing decisions, which will drive higher conversion rates and increased sales.”

Representing the newest offering in First Insight’s cloud-based InsightSuite platform, InsightTargeting is the only solution that provides highly accurate, forward-looking data that can help reveal which products and prices will appeal most among specific customer segments. Specifically, InsightTargeting enables retailers and brands to do the following:

  • Identify groups of consumers that are most likely to buy specific products.
  • Understand optimal initial and promotional pricing for these products for each buyer segment.
  • Drive conversion rates by zeroing in on the products, messaging and pricing that will resonate the most with customer segments.
  • Select the right products to feature in catalogs, circulars and online.

The Limited’s entire focus as a brand revolves around Sophisticated Professionals—our target clients,” said Lois Huff, Vice President of Client Insights and Strategy at The Limited. “InsightTargeting has helped us understand more of the nuances within segments of this client base, enabling us to identify products, messaging and experiences that are more likely to empower her personal style and inspire possibilities.”

By combining data from First Insight’s real-time consumer engagements, along with behavioral data from CRM and social media platforms, InsightTargeting determines well-defined and statistically significant buyer personas. As consumers continue to participate in First Insight’s online games, InsightTargeting identifies differences in item preference and pricing among individual buyer segments, which marketers then use to tailor personalized messages that are more likely to resonate with specific buyers.

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