Customer Insight is the Key to an Effective Consumer Promotion
Customer insight is the process by which marketing professionals or researchers analyse and interpret the trend and behavior of the market environment, to improve a particular brand’s marketability and effectiveness in its respective market.
A few decades ago, there are only a number of communication channels or mediums that marketers use in promoting their products and services, which marketing people commonly call as the Trimedia: television, radio, and newspaper. Further to this, back then, only a few television channels, radio stations, and newspaper broadsheets are available at every firm’s disposal. That being said, promotion and advertisement activities before the digital age are not as complicated and sophisticated. But needless to say, despite the changes in the market landscape, marketers nowadays and even way back then, lean on consumer insights to develop not only competitive products or services, but compelling promotional programs as well. And here are the reasons why it is the key to an effective consumer promotion:
Allows you to Create Effective Market Segmentation.
Given these days complex marketing environment, transition to digital age, and continuing technological developments, effective market targeting became more difficult to reach for most marketers, since simple segmentation no longer suffice. But with enough and up-to-date customer insights, you can go deeper into data and identify which ones are really your market and which ones are not. Hence, allowing you to create effective and targeted segmentation.
Helps Identify the Pain Points of your Customers.
Once you have gathered enough consumer insights about your prospects or current market, it will be much easier for you to identify and understand their dilemma. This way, you be able to develop appropriate offer or program to address those pain points.
Keeps your Company Up-to-Date and Competitive.
Since consumer insights primarily involve interpretation of market trend and behaviour, with this, you will be able to see through future trends and stay up-to-date, giving you enough proof on which product or program to offer in a specific period of time. For example, knowing when the market will be ready for a fully digitized product or promotion.
Truly, consumer insight is one of the most important marketing tools and data of every business firm given that it allows them, especially the marketers to gain access to their market’s aspiration, motivation, and drive as to why they behave a certain way. With that knowledge, it enables organizations to come up with strategic decisions and measures to attract and retain customers.
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