5 ways to gain Consumer Insights

Five ways to gain Consumer insights:

Before you launch a brand, a product or a service, you should be well aware of the customer base you are going to target and that what are the specific features, your target customers look for, while purchasing a product or service. No matter, how well structured your business m odel is; if it is not made by recognizing the true needs of customers-insights- it wouldn’t make any big. This is because, when you are creating a product that targets a specific group of individuals, you should be well aware of their inclinations; otherwise the rate of sales would be badly lowered. Of course, you don’t want that. Do you?

If you are just about to nod your head in denial, then do it because you need to!

Following is an account on five ways that can get you a clear idea of consumer insights:

1. Observing consumers’ purchase pattern:
One of the key factors in determining the consumer insight is to investigate their pattern of purchase. This involves a study of all those products and services, which draw a large customer base towards them; the kinds of features that are looked up to by the customers; the types of products that drive in the greatest traffic and determination of the reasons behind purchase levels of different things, etc. Gauging your market research in this manner is indeed very effective and precise as well. However, the analysis must be very keen and you may seek the assistance of a survey consultant. All you have to do is to keep an eye on what your customers are more partial to and what type of products or services, they tell their friends about.

2. Market trends Inspection:
Another parameter of determining customer research is to inspect different trends in market. For instance, one needs to get to the bottom of the fact that a certain product is being sailed at an exceptionally higher rate. An investigation about the product can surely help in bringing up new promotional strategies and product designs that would both comply with the demands of the consumers and take the business to a higher income rate at the same time. Moreover, the graphic trends of sales and purchase of different products/services helps to diagnose the customer inclination towards different features.

3. Surveys and analysis:
Surveys and different types of data analysis add a lot to the examination of customer insight provide by Octopus.im. The most effective surveys include the ‘direct consumer interaction’ surveys in which, the surveyors have a face to face interview with the consumers and they tend to observe their priorities and requirements for different products. A retailer’s data base analysis can also serve for the purpose.

4. Polls:
Polls can be conducted either in direct interaction with the customer base or through social networking websites and in this way consumer insight can be assessed.

5. Qualitative and Quantitative researches:
Finally, the quantitative and qualitative researches also make for the determination of consumer behaviour. These are basically conducted to get a knowing of people’s interactions, beliefs, behaviors and shopping patterns. Octopus can help with your consumer insight.