Customer Insights

1. What are Customer Insights? 

Customer insight also known as consumer insight is an interpretation used by businesses to understand their audience on a deeper level.

It includes how your audience thinks and feels about your brand and also analyzes their behaviors and feedback to understand them better.

Most importantly it requires you to understand your customers:

• Needs
• Wants
• Desires
• Challenges
• How they feel about your brand, etc.

If done properly, customer insight research can improve the effectiveness of how a brand communicates with its customers. This can provide a positive shift in the customer's behaviors, increasing the sales of the business.

But collecting relevant and good customer insights can be tough at times, here are some of the essential things that you require to reach your objective:

A. High-quality data

The quality of data plays an important role when it comes to collecting customer insights. A low-quality data would provide you with incorrect results which can ruin your marketing strategies.

B. Analytics team in place

You would also require a dedicated analytics team to understand your customer's behavior. Understanding how your customer thinks or behaves might be tough with having a proper team in place.

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C. Active research

Continuous research is required to understand and acknowledge the behavior of your customers. The data collected from the research can be used to engage with your customers on an emotional level.

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D. Database marketing

Database marketing would allow you to create a personalized communication experience for your customers. You can create or segment databases based on their personas.

Database marketing plays a pivotal role when it comes to testing and learning, this would allow you to turn your insights into actions.

2. What are customer insights in marketing?

Customer insights include understanding your customers, their needs, wants, behaviors, likes, preferences, etc. But to use them in your marketing you need to have data on your customers:

• Browsing history
• Purchase patterns
• Returns
• Campaign response patterns
• Demographics, etc. 

All this would help you to communicate in a highly personalized way with your consumers. This would help in adding more value to them, building loyalty and long term relationships.

There's also a big difference between observation and consumer insight marketing: 

Observations are just general assessments of the data collected that can be applied to the majority of your audience. They only report what was witnessed while reviewing the overall data. On the other hand, consumer insights provide you with more individualized shopping behaviors. It usually restricts generalized data to a specific market or industry.

They provide you with actionable plans that can be implemented to improve the overall performance of the business.

3. How to use customer insights?

Consumer insights can be used in the following ways:

• Creating strategies for presenting your help center or your support information with your customers.
• Helps in deciding which product or service to focus on to build an audience in the future.
• Sending personalized marketing messages to specific segments of customers to resonate with their needs and wants.
• Improving the overall look and feel of the product or service based on your customer’s feedback and suggestions.

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4. What are the different types of insights that are important to your strategy? 

There are a lot of different types of insights that can impact your business, they need to be a part of your strategy to meet the desired benchmarks.
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These are the different types of insights that need to be a part of your process:

A. Product Development:

Consumer insights can be used to know what your audience exactly wants from your product or service. This can be used to build a tailor-made product that best suits the needs and desires of your audience.

B. Advertising:

Consumer insights have been used in the advertising industry for quite some time now. Insights can be used to build creative solutions that can emotionally connect/resonate with your audience.

C. Marketing Campaigns:

Adding customer insights into your marketing campaigns can increase the recognition of your brand and get in more customer retention for your brand. Marketing insights often resonate with your advertising insights to build an effective campaign for your brand.

D. Sales:

Last but not the least, customer insights can be used by your sales department to create hot leads for your business. This can significantly improve the working of your business getting in more profits into the mix.

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5. How to Acquire Customer Insights?

Collecting data in this online world is easier than ever. There are a lot of 3rd party tools and applications that can help your business by delivering the analysis and insights of your customers. Some of them are:

• Youtube analytics dashboard
• Google's Audience retention tool
• Google analytics and trends
• Social media mentions
• Chatbots and Live chat analytics, etc

These are some of the most commonly used or effective ways to collect customer insights. You can also dive in furthermore to use comprehensive methods based on your business model and audience interaction.