August 19, 2020

Entering a new market using AI

A company of cosmetics and other personal care products was considering the scenario of entering a new market; manicure and pedicure services.


The solution
The solution

The Problem Solving Process

Linked Business is a Market Intelligence service provider and one of ahedd partners, specialized in AI empowered “analytics” which is the 2nd trend in digital transformation according to Forbes.

In the initial investigation, the sales manager utilized the free service of Linked Business, The Pulse of the Market by choosing the manicure and pedicure market and the areas that were already strong in other products.

He received and evaluated data of the group of existing companies such as the total number of active companies, the average age, how many are independent businesses, and how many have manicure and pedicure as the main activity of operations.

Then he subscribes to Linked Business’s paid service to calculate more detailed market data. The analysis includes detailed and current information on location, demographics, and business operation. For example, which areas are growing faster, what is the business survival rate, what other industries are they associated with, and what are the oldest and strongest brands in the market.

The sales manager then selected and exported the initial list of potential customers based on a number of additional filters (eg corporate type and year of establishment). The charge is per company and is included in the total of the initial units purchased.

After a few days, he made the business decision to enter the new market and hence automatically inputted the list of companies in the Linked Business B2B sales leads service so that it could display them on the map. Then divided them into individual groups and monitored the development of their corporate status. He also received an update with businesses established in the last month.

More specifically, he used Linked Business CAN service: Corporate Assets & Networks to search for a group of existing companies with a strong and long-term presence in the market and more information about their business profile such as management, equity participation in other companies and grants receiving.

After a few months of using the services of Linked Business, it was decided that a part of the data for the newly established companies will be automatically transmitted to the installed CRM and ERP of his company.

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