At First Insight, we help our retail and brand partners listen to the voice of their customer to effectively and efficiently make product, pricing, planning and marketing decisions. We recently ”practiced what we preach”, and asked several hundred of our own customers what they think of working with First Insight.
The results were insightful and provided us with helpful feedback on what our customers value most from First Insight and what they’re hoping we can provide them in the future.
The statistics were overwhelmingly positive, but a couple stuck out that we wanted to share more broadly.
90% of users are happy with the support they receive from First Insight
In case you’re unfamiliar, First Insight has a large, globally distributed, dedicated [and growing] Account Management team that is devoted to ensuring our customers maximize value from their use of the platform. Our Account Management team helps retailers and brands keep their strategic goals top of mind, and ensures every test they complete in the First Insight platform aligns with those goals. They also help with adoption and tracking the value delivered. While the platform is simple enough to use without assistance, it’s nice to have our team there making sure they stay on track.
98% of users would recommend First Insight to another retailer
This number speaks volumes, and we couldn’t be more proud. First Insight is the only technology of its kind that’s truly predictive; most others simply provide a summary of preferences from consumers. This predictive capability comes from applying machine learning to the millions of data points our solution has collected over the last 11 years. Also, the pre-season initial pricing and price elasticity capability is unique, as is the ability to test globally in 30+ countries. Our success rate is proven, and many of our customers are doubling the accuracy rate of their new products.
Additionally, First Insight customers are getting new products to market four to five months faster, testing in-season vs. a year ahead, and reducing sample production by eliminating poor-performing products early in the new product development process. They are further increasing speed to market and reducing samples by testing using 3D CAD images instead of physical samples. On top of faster times to market, First Insight customers achieve margin gains of three to nine percent and markdown reductions of upwards of 25 percent.
Given this, we suspect our customers are taking notice, and while many view First Insight as a competitive advantage, we’re very excited that they are willing to recommend us.
We’d love to talk more specifically about how First Insight can help your organization realize margin gains, drive speed to market and reduce markdowns. Fill out the Contact Us form to get started.