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What are customer insights, anyway?

What are customer insights, anyway?
Importance of Customer Insights

Companies spend a lot of time and money making sense of their data in the quest of uncovering new customer insights.

 

But, what are customer insights, exactly?

 

There are many ways to describe them and a quick Google search will turn up all sorts of definitions like, “an interpretation of trends in human behaviors which aims to increase the effectiveness of a product or service for the consumer, as well as increase sales for mutual benefit.” Wikipedia 

Or, “a non-obvious understanding about your customers, which if acted upon, has the potential to change their behaviour for mutual benefit.” IDM

 

Simply put, at CiG we believe customer insights come from data and tells you something new and potentially actionable about your customers and markets.

 

This newly uncovered information is what lays the groundwork for great ideas.

Let’s use Dove as an example. Through extensive research and analysis, Dove uncovered that most women want to be admired for what’s on the inside rather than how they look on the outside. This customer insight inspired the well-known Campaign for Real Beauty.

 

4 ways to use customer insights

 

  1. Customer insights drive Persona development for successful marketing planning. Without a unique understanding of customers and markets, it’s just a guess.
  1. Customer insights drive tactics. Understanding what is and isn’t relevant to an audience influences creative choices, design, and messaging.
  1. Customer insights help you spend strategically. From media selection mix and channel selection to retail location decisions and product expansions. Even big brands don’t throw dollars at every channel and hope something sticks.
  1. Large organizations need a shared understanding of customers to keep up with non-linear customer journeys.

  Our Enterprise clients use customer insights to:

•  Make basic company data understandable and useful.

•  Improve products and services.

•  See customers from a fresh perspective.

 

How to find customer insights

 

Customer insights are found by looking at relevant data.

In the past, a lot of time, money and resources were needed to make sense of that data.

This is why insights reporting technology, like CiG’s intelligentVIEW, is such a game changer for marketing teams and Enterprise.

It is now possible for you the Marketer, the Researcher, the Sales Guy/Gal, the Executive, to instantly access interpreted data online, to discover insights and generate ideas.

 

How to tell when you have a good customer insight

 

You know you’ve uncovered a good insight when you identify something that totally makes sense but wasn’t obvious until confronted with it.

Like when you find out the indentation on a red solo cup is for measurement.

Now you know what a customer insight is, a few of its uses and an efficient way to find one.

Hopefully, we’ve got your wheels turning about all the ways customer insights are relevant to your business.

 

How Enterprise businesses use insights to gain a competitive edge

14 stats that prove success in 2017 is insights driven

 

 

Sources

Forbes: https://www.forbes.com/sites/brentdykes/2016/04/26/actionable-insights-the-missing-link-between-data-and-business-value/#6e6e61ef51e5

Institute of Direct and Digital Marketing: https://www.theidm.com/content-resources/blog/january-2015/the-4-essential-elements-of-true-customer-insight

Wikipedia: https://en.wikipedia.org/wiki/Dove_Campaign_for_Real_Beauty

Wikipedia: https://en.wikipedia.org/wiki/Customer_insight

 

Erin Stripe, CiG's Sales & Marketing Associate, is part coffee, part post-it note and all sparkle. Always scanning for the latest insights and research online, Erin's updates will keep you informed.