Customer insights is a collection of information that has been carefully analyzed about your existing and potential customers. These insights are derived from quantitative and qualitative research and customer data analysis carried out by your agency.
We must use this information to create a successful marketing strategy. Why use customer insights? These insights:
Validate or refute established assumptions about the needs and wants of your customers. You may think your customers are looking for or experiencing something when they don’t. It is essential to get feedback from your customers.
You can better understand your customers by analyzing their demographics and psychographics. It is essential to know who you are talking to and how best to serve them.
Customer insights are a way to understand your customers and their needs.
If used correctly, these consumer insights can be your brand’s “cheat sheet” for exponential growth and competitive advantage.
This blog will discuss how to increase your company’s ROI and be more helpful and relatable with your ideal client base. How? How?
Further, define Customers Insights
Share successful examples of brands that have used customer insights to create successful campaigns
Learn how to get customer analytics and data.
As you read the blog and then continue on your journey afterward, keep in mind the following:
You must always be mindful of the most important thing regarding Customer insights.
It won’t affect profits or the bottom line if you don’t use the information to boost revenue or change how you market your products.
This brings us to our ultimate question.
What is Marketing Customer Insights (MCI)
Let’s start by establishing this:
Customer insights are more than just customer data. Although numbers are important, they’re not the only thing that matters.
Marketing insights are more rational thoughts and conclusions based on analyzing marketing data, information, and market research.
In a recent talk, Morgan Shorey said, “Insight is a truth, which has been overlooked until now, but when leveraged, can generate revenue.”
Consumer data is meaningless if it does not have a direction and goals. We can use marketing insights and information when we filter the data. This will allow us to shift our marketing strategy and efforts for greater sales, better customer service, and a more positive brand experience.
How big brands have leveraged customer insights
Authentic Customer Insights can lead to amazing success. Here are some examples.
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#LikeAGirl was created based on the insights of girls going through puberty. It was discovered that 49% are afraid of failing and freezing at this age. They often do not even try new things.
This information was used to launch a marketing campaign to encourage girls who were part of the target audience to continue on.
Nike
Nike didn’t launch a campaign promoting fitness until the 1980s. The company and its agency partner realized that exercise was not always a glamorous thing for ordinary people. Nike’s previous campaigns were geared toward elite athletes. Then came customer insight, social listening, and marketing insight.
It was understood that most of their clients are regular people who procrastinate on exercising and feel like it is a chore. You know what we’re talking about. You know what we mean.
In 1988, the company launched “Just Do It”.
As you may know, the tagline of this campaign has been a powerful one for audiences.
Sun Life
This brand ran a campaign that addressed people over 50 and how they’re portrayed by the media… As if they were always searching for medication and on a downward spiral in terms of health.
In this group, they found that about three-quarters of the people in this demographic felt they were not featured in mainstream advertising. Sun Life customer feedback revealed that in this vast research study, many people aged over 50 felt this was their best age. This is not the picture that is presented in most of those drug ads!
They created an ad that shows 50+ people enjoying life.
How to use customer insights in marketing
As with all statistics and studies we examine, we must be careful to define consumer insights.
Information and analytics on marketing are now more important than ever.
Why?
In the last two decades, it is said that more data was generated than all of humanity.
It is important to understand how to assess and evaluate all the data and information that you have to convert into useful insights. You can easily underestimate or overestimate certain aspects of marketing analytics.
Recall the Sun Life case study. Sun Life conducted a large-scale study involving 50,000 adults over 50. This is a good target audience and relative number to get a true understanding of the information.
The study of 100 people would not have been as useful.
Customer Insights drive persona development
You can use the insights to develop the most accurate and effective buyer persona.
A buyer persona can be defined as A fictionalized, generalized description of your ideal client(s).
What Is a Buyer Persona
We use Customer insights to ensure that our buyer personas, most companies needing between three and five, are aligned.
Let’s say, for example, that the buyer personas of a particular company are all male. An analysis of blog traffic reveals that 60% of visitors are women. Then, it’s time to re-examine the buyer personas.
Customer insights drive marketing strategies
To improve marketing, it is essential to use customer insights. To:
Understanding what your audience is interested in
Money may be the number one driving force for your company. An assumption is only that: an assumption. Your audience may be willing to pay more for certain features or qualities of a product.