Customer insights provide you with important information about your target groups. Successful companies do not rely on hypotheses, but collect reliable data. The goal is to know and understand the wishes and needs of your customers in order to To perfectly match products and services. Modern brands use customer insight tools for their branding. We show which tools are suitable.
Consolidate market position and increase market share
Companies that put their customers first use customer insights as a source to Initiate changes. If new developments and marketing measures are based on data, it is possible both to react to the current situation and to initiate new processes. If necessary, existing processes can be further developed. The goal of these existing processes is to improve the maximize economic success.
If you are able to optimize the respective customer journeys, the number of Leads and conversions. You strengthen your market position against your competitors and increase your market share.
In order for the use of the customer insights gained to bring the desired positive results, it is important, current data to use. Your market environment and business conditions change just as quickly as the needs and desires of your target groups evolve.
Difference between customer insights and market research
There is a big difference between customer insights and the results of market research. Whereas market research gives you a clear picture of what's happening in the markets you serve, customer insights provide you with the Backgrounds for what is happening.
Customer insights tools help you answer the question of why
Change your mindset and incorporate customer insights into your strategic planning you will be in a position to answer key questions and set trends yourself. Take the opportunity to generate real benefits for your prospects and customers.
Optimize touchpoints with a customer persona
The Customer Journey of your customers determines whether a customer relationship results in a successful conversion or the potential customer leaves for the competition. Use customer insights tools to help you Customer Personas Your Touchpoints to optimize. The data collected enables you to vividly depict typical customers in the form of fictitious persons.
Real customers and users of your products or services give you feedback on how they use touchpoints and what changes they would like to see. It often happens that questions and problems arise that would not have occurred to you as an expert in your field. You learn first-hand which touchpoints work, where the strengths and weaknesses are, what your customers are missing, and which elements you can leave out.
What customer insights tools are available?
There are a variety of effective tools available to help you gain customer insights. Common methods are:
- Individual interviews with selected customers - e.g. top-selling customers, new customers, regular customers
- Completing online questionnaires: Incentives increase the willingness to participate.
- Social Listening: How do customers perceive your company, your brands, and your products and services? Are there discussions on internet forms and social platforms?
- Reputation monitoring: What is your reputation like in the digital media? What information do you receive about reviews of your products and services?
- Search data analysis: Automated search for relevant keywords provides you with new data on sentiment and current topics.
- Competitor analysis: How does the competition present the products and services? What is the branding strategy? How is the differentiation and addressing of the customer personas?
Search data and competitor analysis are cost-effective customer insights tools. Any company can use them - manually or automated - to gain valuable customer insights. If you have a small budget and limited human resources, these two methods are the perfect way to get started.
It makes sense to make gaining customer insights a Standard task in everyday marketing to make and Interdepartmental into the company's processes. The central storage of the collected data and evaluations enables every employee to access the customer insights gained.
Data evaluation with expertise, objectivity and empathy
The careful collection of data is only the first step. Much more important is the correct interpretation of the data. Data collected in personal interviews, in particular, provide important information about emotions and wishes. Professionals must have expertise, objectivity and empathy in order to interpret and process the data correctly.
Customer insights do not always deliver the expected results. If your own perceptions and the opinions of customers differ, unpleasant feelings such as disappointment and frustration can be the result. It is of crucial importance, accept the new knowledge and to implement the new know-how in their own processes. This ensures that the maximum benefit is derived from the complex data collection process.
Conclusion - Replace hypotheses with facts
Use Customer Insights tools to support hypotheses established in your company with facts and Uncovering customer needs. If you can respond to your prospects' needs before your competitors, you'll solidify your market position, strengthen your branding, and capture market share. Don't forget to evaluate the effectiveness of customer insights and the impact on revenue at regular intervals. Because this will optimize the evaluation and data collection processes as well as the internal company application.