“Partnering with DFM Foods presents a great opportunity to expand Deepspatial’s footprint in the Indian ecosystem. As leading provider of snacking products in India, DFM has the potential to incrementally benefit from the insights that will be generated by integrating their current operations with geolocation intelligence. Our geodemographic profiling feature will allow DFM to expand to newer geographies more aggressively and consolidate their brand in the country,” said Dr. Rahul Kushwah, CEO of Deepspatial Inc
What is Geodemographic Profiling?
Lets address the elephant in the room. What the hell is ‘geodemographic customer profiling’? Aside from sounding technical, the term is rather simple. With regards to marketing, geodemographic profiling is essential when attempting to identify a distinct group of people whose lifestyles align closely with the products or services offered by a company. By specifically targeting this group, otherwise known as the demographic, companies are able to maximize their return on investment (ROI).
The ‘geo’ in geodemographic refers primarily to the location of groups and the areas they live in. According to geodemographics, people who live in the same location are more likely to have similarities than those from different areas. With this in mind, locations are then classified according to the characteristics of the people that live there. Locations with similar types of people will be given the same classification regardless of distance. Ideally, this provides companies with invaluable insights regarding where their products would sell best.
Who is DFM Foods?
DFM Foods is a recognized leader in India’s snack food market. The Company’s CRAX rings, a non-friend corn based snack, have become a household name in India. DFM Foods is currently listed on the Bombay Stock Exchange with a $250 million+ market capitalization. Additionally, the Company has increased its earnings at a 20% year over year rate. This is largely due to product differentiation, aggressive marketing, and a focus on high quality.
There are three categories of insight that DeepSpatial will assist DFM Foods in generating:
- Geodemographic Customer Profiles – via geodemographic profiling, DeepSpatial will analyze product sales within different geographies and compare the dataset with its own. In doing so, DeepSpatial will arrive at an ideal customer profile for DFM products within a certain demography.
- Market Entry and Expansion – DeepSpatial will leverage insights generated from geodemographic profiling to identify alternative markets in India while considering constraints such as delivery cost.
- Distributor and Supply Chain Optimization – DeepSpatial will analyze current datasets generated from DFM Food’s numerous distributors and subcontractors. This will allow the company to provide route optimizations, identify efficient delivery mechanisms, and creative predictive models of supply and demand.
DeepSpatial will be relying on its proprietary machine learning algorithms to provide feedback and generate insights for DFM Foods. Currently, DeepSpatial is permitting DFM Foods to use their platform for a flat fee until a specified date. However, upon successful delivery and implementation of the project, DFM Foods will be subject to an annual SaaS based pricing model.
Aside from sounding like something straight from Skynet, DeepSpatial is capable of providing DFM Foods with valuable insights that will enable the company to excel. Furthermore, with the assistance of DeepSpatial, DFM Foods will be able to pinpoint prime demographics despite competing in the second most populous nation in the world.
DeepSpatial began trading on CSE on March 4, 2021. The Company’s stock price opened at $0.255 today and currently sits at $0.23.
Disclaimer: DeepSpatial is a client of Equity Guru.