Audience Insights

Understanding the market is the first step to customer engagement

A deep understanding of the market is essential to designing strategies for reaching new audiences and developing deeper relationships with existing customers. An effective insights engine has five characteristics.

Mission

Inspire ideas and action, not just inform.

Priority

Based on data, not hearsay.

Scope

Generate fresh ideas about business growth opportunities, not just reduce risk.

Sources

Integrate multiple data streams, not just primary and secondary research.

Sharing

Embraced and used by the organization, and its partners, not just marketers.

Access

Available on demand, not locked away in presentations.

Insights are foundational to creating strategies for growth. Yet, it’s estimated that 80% of market research is focused on tactical, rear-view mirror research. Many so-called ‘insights’ are nothing more than compilations of facts and trends.

Insights take businesses in new directions by making come alive as people who make choices about how they spend their time and money. Spotting trends and discerning game changing insights requires in-depth understanding of the values that drive those choices.

At Brand Amplitude, we use the latest research tools to uncover deep insights about customer decision-making, and partner with our clients to apply these insights to drive business growth. We emphasize internal activation to ensure that findings get to the people who can make the most use of them.

maple leaf farmsActivation in Action: Maple Leaf Farms

While duck is not exactly an everyday meal for most consumers, it is no longer considered all that exotic. To generate insights about how to convert duck ‘inclined’ shoppers to consumers who are comfortable buying duck regularly, we partnered with the Maple Leaf Farms marketing team to conduct an immersive study. In the final phase, consumers shopped for and prepared duck, and shared their experiences in an online community with other duck inclined consumers.

table

Ten key insights were identified and summarized in a series of memes, like #PrepareforAdventure, #InspireMe and #ThinkBeyondtheWholeBird. The memes became platforms for co-creating strategies in joint sessions with consumers, sales teams and retail customers. In the end, the sessions identified nine distinctive strategies for engaging consumers at the point of sale. Presto, insights became actions that inform how the company relates to consumers and customers in the store. For example, now instead of recipes, package and store signage focus on higher level inspirational cooking ideas. – 5 things to do with duck tonight!

"Insights are no longer just for market researchers, it’s the job of everyone in the organization. Employees are also consumers, they should be understanding people as part of their jobs."

Getting Started

Changing the mindset around market research takes a concerted effort that can yield tangible benefits.

  • Conduct a market research audit – What insights are critical to moving the business forward. Which research contributes most to insights? Where are the gaps?
  • Foster a passion for insights – Encourage every every part of the organization to recognize the importance of insights and contribute to generating them.
  • Transform market research to an “insights engine”– Require each research program has a plan to ensure findings have impact.
  • Build an insights repository – Insights have a shelf life - what can you do to ensure that the most promising insights are accessible and understood?