This blog post is about creating consumer insight. It handles topics such who are today’s consumers, how they behave and how to reach them. It has been interesting to learn how much research has been done to show for example, how many percentages of people uses social media. In my current studies this has been very relevant information and helped me to understand consumer behaviour better.
Since the last decade we have been able to witness the spur growth of social media. Modern consumers have become more aware of all available platforms, devices, channels and are spending more money and time online. Data shows that more than 7 in 10 consumers purchase products online each month and 46% of 16–24-year-olds use social media for product research. It is fascinating and also scary at the same time. I’m all in for getting travel tips, food recommendations or buying clothes online, but there is also a side to this that I don’t like. A lot of scamming is done, and it’s made easier to target to certain age groups. Cyber- security is secured but it is challenged heavily every day.
Consumer insight is central to effective brand positioning and marketing strategy. Before marketing was product-centricity but now it is consumer-centricity. Many brands have realized that consumer- centricity is the key. Data- driven marketing is strategic and based on consumer-centric decisions. Nowadays consumers are being hyper-targeted, when previously they were suffering from lack of data and are now overloaded with it. The average consumer spends 6 and a half hours each day using internet-powered devices and services. Feels like there is endless opportunities for both consumers and brands.
Research to create insight.
Stating earlier that consumer-centricity is the key, brands would still need to make sure it’s a right fit and essential for them. Global Web Index conducted a global survey, a panel of 22 million consumers to give different marketers a realistic presentation of target audience. This research was able to give answers to questions; Who is it?, What do they do?, Why do they do it? and How do they do it?. This helped brands to create successful marketing campaigns by making them more human, universal, brand fit, and targeted.
Creating consumer insight needs strategic thinking, it is not only brainstorming. First stage is to create consumer portrait. By doing this, it is needed “to see the world through consumer’s eyes”, in other words step into their shoes and identify the opportunities. Secondly, how to use this data and what to use it for. This needs to state a clear goal, prioritize, make it real, map a day in consumers life and finish insight. When exploring the research and methodology of data provider, it is needed also to ensure its methods are ethical, reliable, and accurate.
Data is information – information is insight – insight is idea.
Lots of data can easily be confusing. To learn how to make it easier to process is a skill. Creating information based on data, is careful process of getting granular, targeted, aligned, and focused. Once this is done, it is time to create the insight. Data is raw numbers, Information is collection of data points and Insight is universal truth. Often mentioned “The Big truths” means creating
actionable insights suitable for certain brand and shaping the brand to fit. Last but not the least, comes the idea. After creating an insight, the last step to take is to come up to the idea. Idea generates the results you want. One insight can create many ideas, so it is important not to lose focus from the overall goal.
Creating an insight has many levels. We can get a good understanding by looking into various research and data but still the practical knowledge that creates all the tentative groundwork will be learned by working with consumer groups. This option might be a slower process than looking up the existing data but it’s the most fruitful and long-lasting when creating solid consumer-relations. I would like to learn more about creating consumer insight, because everyone has their own unique profile.
Thank you for reading and hoping this post will inspire you as it has inspired me.
More on this topic can be found from this link, https://www.techtarget.com/searchcustomerexperience/definition/customer-insight-consumer-insight
The source I used is found from this link below:
GlobalWebIndex: Creating Consumer Insight