Our goal as a consumer insights company is to provide our clients with a better understanding of their consumer and to use consumer insights to ignite effective marketing strategies and tactical programs.
Many marketers agree obtaining relevant, credible insights is more challenging today than ever. The world around us has changed; our lives have changed and being a consumer has changed. Consumers are nothing like they were just a short time ago. They are smarter, more complex in decision making and in greater control of the purchasing process than ever before.
Consumers are now able to optimize themselves utilizing a vast new array of information sources and new products that enable uniquely individualized and more rewarding lifestyles. Through new product innovation consumers have become more proficient in completing ordinary daily tasks, such as – communications, information/media consumption, shopping, nutrition, child care and healthcare – and are enjoying new heights of personal growth through various forms of self-improvement and entertainment activities.
The bar for marketers has truly been raised given the rising expectations of most consumers today.
Our research has revealed deeper dimensions of consumer psychology at play in consumer perception of value of one product or brand versus another. Many product or brand choices are more complex than what we might have imagined.
What consumers are actually after in many cases is the improvement of their lives either through easier-better-quicker task accomplishment or direct personal growth in some way. The higher a product goes in value (further around the wheel clockwise) the greater the level of satisfaction and loyalty.
This new value equation implies several critical elements of any good marketing strategy –
In today’s world it’s difficult to know where the purchase process starts and ends for any given product category and of course purchase doesn’t always happen at retail by any means. It’s now clear the shopping process is no longer linear. Instead, each consumer appears to be developing a unique, personalized approach to shopping each category depending on their particular needs and circumstances.
Most marketers agree it’s more challenging these days to optimize their marketing strategy. The blending consumers do between the virtual and physical worlds throughout the shopping process, at home and mobile, guarantees the greater challenge.
Today’s shopping process – how consumers get from information (learning) to shopping (assessing/comparing) to purchase and through to post purchase reactions – is a 24/7 multimodal process that presents both big opportunities and marketing challenges.
Thus, different consumer target groups for any given product category can exhibit different path to purchase habits which can dramatically impact the marketing strategies and tactics employed to pull them through to your products and brands.
Take for example the predominant pathway to a BMW purchase for one demographic target segment. The new world of media is here. Online is equal to if not more important than traditional channels in many categories today.
Our industry is undergoing extraordinary change in keeping with technological trends (especially those directly impacting the way insights data is collected) and changes in the needs, aspirations and behaviors of the new consumer.
We recognize four critical aspects of our service to serve marketers in this new world.
1. Speed of Insights Delivery
2. Methods of Data Collection
3. Insights Frameworks
4. Innovations Support