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More than ever before, the power of customer insights, the understanding of customer behavior, creates the difference between the weak and the strong in any industry.
Traditionally, market researchers have conducted surveys to find out who customers are and what they want. Today, accessing data provides a faster and more direct connection to your customers. There are exciting and disruptive hints and tips on how retailers can better understand their customers.
Key Factor of Strong Customer Insights: Relevance, Timeliness, and Emotions.
Market researchers collect data, the right insight communities build relationships
The goal of traditional market research is simply to collect data about customers. But this makes the customers more objective and creates a momentum from observers to the observed. On the other hand, companies with an interest in customers and their behavior have a completely different approach to customers - they build relationships.
Accuracy is important, but speed is the key
Google is used to handling data transactions at lightning speed. You know better than anyone else that the data provided to your stakeholders must be timely and up-to-date. The days of long, tedious customer surveys are over. Tyler Kettle, Google's International Insights Program Manager, believes that accuracy is the key to customer understanding. Kettle says that the ultimate goal of market research is to reduce risk and that research with 70 percent or 80 percent security is often better than being late in the market.
Above all, the Experience rules
The Customer Insights process should be part of the customer experience. As Twitter notes, it is also a brand experience hare the insights with those who need them. It is therefore important to use the touchpoint capabilities of customers to contribute to a positive brand feel.
One of the best ways to increase usability is personalization. Research shows that 74 percent of consumers are frustrated when content has nothing to do with them personally. It's no coincidence that 90 percent of marketers believe personalization is the key to the future, whether you're a retailer or an ecommerce vendor. Customers today expect a high-quality, personalized experience, even if they participate in market research.
Here's the original article by Tina Mulqueen, CEO of Kindred Marketing, in Forbes magazine