In today’s rapidly changing competitive world, concentrating on targeted marketing is given. But how can you step up and leave a mark in the industry by driving relevant customers to your products?
Forbes published a research on consumer insights where it was observed that 74% end users gets frustrated if the brand is distributing content which is not connected to them.[i]
What is customer insight?
As every aspect of our lives is evolving including our preferences, behaviour changing drastically and constantly. It has become important more than ever to understand what your audience seeks in order to make your product a success and largely to sustain in the market.
If your messaging is data-driven & defined you attract the ideal lead into the business. This will turn your customers into prospects and help you nurture the marketing funnel.
Importance of details insight
With diversified consumer behaviour and the number of factors influencing the purchase decision, marketers should focus on the data leading to multiple insights to serve and target each niche of audience. Considering the humongous data and research available in the marketplace how you can leverage get the consumer to not only to purchase once from you but making sure that the customer keeps placing orders with you. This is not easy to conquer even with a pool of data. Anyhow that’s what the challenges is, how you interpret data to stay a step ahead of the competition.[ii]
Where to gather these insights from?
There are multiple companies where industry analysis is available and be utilised to understand the market and its opportunity pace. However, that comes from qualitative and qualitative research.
Why these insights? It is imperative to do thorough research but more important to have acute data.
You get validated data and invariably different than the assumptions we individuals collect through the general behaviour.
Building person’s (generalized representation of your ideal customer), that’s the way to crack each content you are serving to you end user. In this process, you dig into their psychographic, understand their challenges towards your business and it’s easier to map the user journey eventually with the goal of converting each lead into customer.[iii]
Here’s what you achieve by incorporating the consumer insights into your marketing strategy:
1. Personalized experience and more tailored communication:
Every person loves a personal touch and tends to get attached to it, for brand’s it’s cultivating brand loyalty. Further, it expands as your consumers become brand ambassadors. Also, personalized experience on a larger scale, attracts eyeballs in the market and the non-segment customer base.
Checkout our latest blog on how to Make your Email Marketing more effective with personalization
2. Targeted & Informed marketing strategy:
Rather than talking to the whole ocean of the audience in the market, you know which target segment fits in your consumer base and helps to plan the budget more accurately.
3. Better results:
Since all your ads are personalised, your ads engagement increases as it’s resonating with your end consumer. Simultaneously, you have better control over the budget optimization. Eventually leading to quality conversions and ROI.
4. Efficient in working process:
Once you understand what platforms performs well for your business, where your audience is interacting in quantum and the marketing techniques. Boiling down to where you drive the maximum sales. In this process, your overall marketing budget allocation for each activity gets streamlined.
5. Marketing Activities:
Right insights not only will shape your digital strategy but also enhance your product through this.
Organizations employees are aware what their consumer needs and that can guide and align themselves in the right direction.
Also, enlightens the cross-selling opportunities.
Tapping into consumer insights can reap benefits for long and short term.
It lays solid foundation and boons at every level of the marketing efforts. Customer Insights are inevitable and an essential part of the marketing exercise. Personalized Marketing can provide exponential growth to your business if harnessed in a right way with right insights.