Consumer/buyer insights is not about marketing intelligence.
Let’s be clear about the difference. Marketing intelligence typically
advantages third party sources. Its focus is about what is happening where as
insights are about how consumers/buyers decide. Captured intelligence (from
sales agents or reviews) measures a product’s strengths and weaknesses. The Internet has enabled businesses to value captured intelligence, and make changes at the
speed of the Internet. Intelligence also reveals needs and trends. This opens doors,
allowing businesses to bring forward solutions; however, companies continue
scrambling to understand and identify with consumers’ expectations as well as their
needs. It’s a type of myopia that is correctable all while avoiding the
marketing guessing game.
Buyer insights reveal the journey customers take to decide if a business’s product or service solves their problem. Insights tell the
story about how consumers:
- Come to know what triggers the need for a solution
- Sought after product/service attribute expectations
- Who is involved along the decision channel, and how elimination happens
- Why the competitor’s approach maybe/is better
Once consumer mind-sets are understood, square insights with
marketing intelligence to complete the buyer profile. In other words, insights correct business myopia to
realize buying decisions, inner workings, and objections.
There is a wealth of information available, but to find the
gold one has to learn to market solutions that intersect with buyers needs by
going to the source. Guess work eliminated.
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