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Maximizing Your Spend Through TURF Analysis
It’s not a wild statement to say that market research is a bit slow to evolve. Although this has caused friction given the rapid growth in competition within the consumer market, some age-old market research techniques have withstood the test of time.
One stand-out method of traditional data analysis is TURF. A TURF analysis is still widely used to answer critical questions in regards to common marketing objectives. This handy guide will tell you everything you need to know about TURF so you can use it to get the critical data you need to maximize your revenue.
What is a “TURF Analysis”?
TURF is an acronym that stands for Total Unduplicated Reach and Frequency. A TURF analysis is a statistical analysis technique used by organizations to optimize not only marketing strategies but just about every customer-facing aspect of a company.
A TURF report helps measure a variety of different critical factors, such as:
- The number of consumers reached by a communication method, such as an email
- How often those consumers are reached
- The frequency of use of certain products
When looking at the bigger picture, a TURF analysis can pinpoint the factors that either help or hurt the chances that a consumer will buy a certain product. It provides insight that helps strategize a company’s offering by determining which products and/or services they should continue to offer or ones they should discontinue.
Is TURF Analysis Effective?
Employing a TURF analysis helps companies answer critical questions that can, ultimately, help them maximize their revenue by tailoring their campaigns for maximum reach. For example, TURF reports can determine what combination of products or services are most favorable to their target audience, what can be offered to gain new business, or what variations of product specs to offer.
Though the methods of data collection to run a TURF analysis have changed, it’s a method still widely used for its effectiveness in predicting campaign success.
Where is a TURF Analysis Best Used?
A TURF analysis is best used to answer any questions in regards to predicting campaign effectiveness. Let’s look at an example:
Say you’re an online retailer for women’s activewear. You want to offer a discounted item with the purchase of your best selling product to drive revenue. Your biggest question becomes: What product should I offer at a discount to drive more purchases of my best-seller?
In such a case, and similar cases, a TURF report will uncover what products are most often purchased with your best seller. You can then use this data to predict the effectiveness of your campaign.
Bottom line, TURF is an incredibly effective type of statistical analysis method that when employed effectively, can have immense monetary benefits. If you’re interested in conducting your own TURF analysis, Fuel Cycle can help.