Customer Insight is defined as the understanding and application of the “deep truth” about the customer. While companies today might agree that consumer insights are important, there are varying levels of opinions about just what these insights should be and how marketers use them
Since simple demographics no longer suffice in this complex marketing environment, consumer insights have begun to take a new hold in the corporate mindset. These insights are gleaned from customer behavior, beliefs, experiences, needs or wants and matched to product or service offering. Customer insights allow marketers to understand buyer’s purchasing behavior or pattern.
Paying close attention to how customers’ approach, consider, and decide to buy will help you understand their frame of mind and will assist marketers to plan more precise and targeted campaigns. When data is compiled properly, consumer insights can make it almost feel like a “typical” consumer has been invited personally to share their interest.
While traditional marketing research involved gathering mounds of facts and figures to look for generalities or trends, Consumer insights research gets under the skin and inside the consumer’s head to find the “why” of a purchase, to understand what happened, and to project what could occur in the future.
Most important is that the aggregation raw data is to know how to create and apply a multi-dimensional view of their customer and apply it to the marketing approaches. Included are strategies for understanding the full customer journey and outlining how to be actionable with the customer insights. While it’s important to utilize these ways of extracting information, at the end of the day, understanding your target audience is all about stories; they reflect and shape how people view the world.
By understanding those personal stories, you can better connect with your customers.