Consumer Intelligence

Consumer Intelligence is the practice of understanding a target set of people that you hope could become customers, so you can better tailor your offering to their needs, and communicate with them more effectively.

 

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What is Consumer intelligence?

 

Consumer Intelligence is the practice of understanding a target set of people that you hope could become customers, so you can better tailor your offering to their needs, and communicate with them more effectively.

For example, what motivates them to buy certain products or brands, how do they feel about changes in the world around them, and how might shifts in attitudes affect their behaviour?

 

Why is Consumer Intelligence important?

 

Understanding consumers is the cornerstone of any great business - if you’re not meeting their needs and solving problems, then why does your brand exist?

The problem for businesses is that consumer tastes and needs change all the time. They’re shaped and reshaped by the economy, politics, media, experiences, technology and everything else going on in the world around them.

What works for today’s customers, isn’t a guarantee of success with tomorrow’s consumers. For you to stay relevant, and avoid being disrupted, you must invest in consumer intelligence.

 

When do you need Consumer Intelligence?

 

When do consumer tastes change? Like the wind, a change in direction can happen any time! We’d suggest a regular ‘pulse check’ is advisable at least once a quarter (possibly monthly for faster moving industries), and then prior to any major strategic decisions, such as product extensions, feature development, brand updates, large promotional campaigns, partnerships, new market entry etc.

 

Where should you use Consumer Intelligence?

 

Ideally you should use consumer intelligence to inform product development, marketing and strategy.

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