Understanding consumer needs and wants is key to the relevance or continuity of a company. Listening to existing and potential clients empowers you to enhance customer experience.
Market researchers who understand clients’ needs are likely to collect reliable consumer insights for long-term growth. To this end, we take time with our clients to ensure we’re reading from the same page. So what are customer insights?
What are Consumer Insights?
Customer or consumer insights refers to understanding and interpreting customer data, behaviors, and feedback into conclusions that can help in decision-making and developing robust marketing strategies. We gather consumer insights from numerous sources, including panelists—the most effective, customer feedback, and surveys, among others.
How We Transform Raw Data into Useful Consumer Insights
Here’s what’s needed if you’re to benefit from consumer insights:
A Reliable Analytics Team
Data analytics teams are the brains behind understanding customer behavior. Without a competent analytics team, the collected data will make no sense.
You Must Be Open-minded
You’ve invested time, money, and emotions in a product, and now it’s time to reap. You naturally expect positive consumer insights, but that doesn’t happen.
Being open-minded helps keep your emotions in check. That said, never ignore what potential clients think about your products or services, regardless of your opinion.
Database and Segment Marketing
Database marketing refers to selling your brand to existing customers in your database. This form of marketing allows personalized communications between companies and clients.
How to Leverage Consumer Insights?
Through consumer insights, we help businesses grow in the following ways:
Enhancing Marketing Campaign
Consumer insights help businesses evaluate the competition. Knowing your competitor’s insights about your products and services can help you understand consumers’ needs and what you should do to improve.
Customer Journey Mapping
This is a visual representation of customers’ experiences with a company. It includes clients’ perceptions about your products or services and customer service.
Customer journey mapping helps identify areas of weaknesses to improve. Mapping means compiling a list of user goals to be achieved and actions to be done in a specific timeframe. Customer journey maps address different customer elements, such as touchpoints, emotions, and pain points, among others.
Getting Started with Consumer Insights
Identify your goals before conducting market research. It’s also imperative to know how and where to get data.
Identify the Necessary Resources
How will the data be obtained? Who will collect it? Do you have a reliable analytics team? Ensure you have the right and sufficient resources to be used in getting consumer insights.
Data Collection Method
The way data is collected significantly impacts its effectiveness. That said, you should start by deciding your target audience and the appropriate survey methodology to be used.
Work with Industry Leaders
Understanding existing and potential customers can impact the performance of your business. Simply put, you can’t succeed in business without understanding the market. If you’re ready to drive your business to the next level, contact Product Insights and discover how we can help you.
What Our Clients Say About Us
“Product Insights is one of the top focus group facilities. The personnel pay attention to your every
need as professionally as anyone I have seen. I have been particularly impressed with the recruiting.
I would recommend this facility without reservation.”
“Our team and executive leadership have been incredibly impressed with the quality of work
guidance. The insights gathered during our multiple taste testings and in-home tests helped our
team make critical product development, marketing and overall strategy decisions. I highly
“My experience was exceptional. I felt that all project objectives were met and exceeded my
expectations. The summaries were very thorough and well-written. I felt a true sense of partnership
and PI went above and beyond to meet my project needs.”