Role of Customer Insight and Consumer Insights

‘Insight’ basically refers to someone’s perception about some thing, how they find it and how they deem it to be. Similarly, ‘customer insight’ refers to the perception of customers regarding a certain brand, product or service. Since, it is on the customer base to either take the business towards prosperity or take it down towards demise, customer insight is a must to be considered, while designing a product or doing its marketing.

Consumer insights are said to be creating a connection between the customers and the brand. It is a basic tool in determining the extent to which a product has to be designed. Without any considerable contribution of these general perceptions of the customers, even a highly financed marketing tactic will lead the company / business to nowhere.

Now, once the importance of acquiring insight has been maintained, the next step is to determine the different factors that determine the shape of these insights as a whole. For this purpose, surveys and data base analysis are often recommended with an objective to examine customers’ inclination towards a particular product or group of products. This may be done by simply interviewing the customers about their preferences and priorities, they consider while purchasing a product. The process can be more effective if the interview is followed by some appealing offer.

While reading they say ‘read between the lines’; however in the same way, while interviewing for insights, the surveyor must not only stick with the words of the customers but should try to guess what is unsaid. Knowledge of consumer insight is not a science but an art, which involves both; getting the literal meaning of the words as said by the client, as well as the deeper meaning and the unconscious requirements of the client. This requires psychological interpretation of personalities, mind reading, using intuitions and mere creativity. The basic purpose is to have a complete understanding of the consumers and their needs.

The acquisition of insights can also be made possible through a thorough examination of the sales record stored in the data bases of retailers. From this kind of approach, a true picture of customers’ needs and requirements can be deduced. This analysis helps to find out:
What are the main priorities of a customer/s? What does a customer wants in a product? Why, the rate of sales of a certain product is higher than the other of the same kind? What features make a certain service/product more appealing to the consumer base? What new provisions could be incorporated in the manufacture of a product to make the sales level higher? What promotional strategies attract a larger customer base? What is the target market of a certain product and what groups of individuals form the secondary and tertiary targets.
These were the two most basic parameters of determining consumer insight, and when kept in mind, can help structure a maximally effective promotional strategy for a business or product/service.

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