Seeking insights into the home improvement market, Basement Systems Inc. (www.basementsystems.com) partnered with the UConn Business Analytics and Project Management program on several inter-related projects over the course of two years. A division of Contractor Nation, Basement Systems is headquartered in Seymour, Connecticut and comprises a nationwide network of home improvement contractors offering basement waterproofing, foundation repair, insulation, mold prevention, and radon mitigation.
Graduate students in the program analyzed externalities that might affect demand for home improvement services, looking at the effect of weather, energy costs, the real estate market, and other geographic, economic, and demographic data. Other analyses looked at the cost effectiveness of different marketing channels and other factors affecting a company’s growth, including social media presence, competition, and reviews.
In addition to data analyses, the students used text mining tools to explore customer sentiment as expressed in online reviews. “These insights into our customers are an important factor in understanding market dynamics,” explained Jenny Hui Liu, a graduate of the program and Data Analyst at Basement Systems who worked with the students on the project’s parameters.
Richard Fencil, head of the Treehouse Internet Group, (www.treehouseinternetgroup.com) the company’s in-house marketing agency, said the results of the projects were being used in a number of ways. “The insights were immediately helpful in mapping the customer journey, expanding weather-related advertising, and our ability to provide support to our contractor network through our year-round training programs. The more we understand the interplay between reviews, referrals and online research, the clearer it is that a contractor has to deliver exceptional service to grow its business.”