If a product is new to the market or has only been sold a little in the past, it is often difficult to define a target group. The reason for this is that the number of cases on the market is missing, so that conventional analysis methods cannot be used. In order to solve this problem, Dastani Consulting has developed an AI-based system that searches the target groups interactively.
The AI system developed by Dastani Consulting is fed with market research data and sales knowledge. The system identifies individual companies or keywords that fall within the relevant target group or describe it.
With this input, a target group forecast is created in real time and extrapolated to the market. Sales experts look at the websites of the top hits and validate them manually: Do the hits fit the target group?
The logic is similar to the well-known dating app “Tinder” with the Swipe system. If a user likes the profile with “Tinder”, he wipes to the right, otherwise the user wipes to the left. The app developed by Dastani Consulting works in a similar way: Thumbs up means target group fits, thumbs down means company is not relevant.
The good hits evaluated in this way have a positive impact on further profile building, while bad hits have a negative impact. Iterations make the AI better and better, the target groups more accurate and the results more precise.
Application and result
Our AI system is thus able to identify “similar neighbours” of the first 100 initial customers, for example. The ongoing process gradually determines further relevant addresses.
Dastani Consulting provides an app for this process in which the addresses are evaluated and the modelling is carried out. The selection of the relevant addresses is also carried out directly in the app. If required, the results can then be integrated into a marketing dashboard.
The special feature of the developed system is that expert knowledge is transformed into target groups with the help of AI. With the help of the app it is possible to identify specialized target groups that could not have been filtered out from a pure industry selection.
Even if only a few addresses exist, the interactive AI system is excellently suited to identify target groups for new products or new markets. The addresses obtained through the process can then be used for marketing purposes – both in acquisition and for cross-selling in the inventory.