Without social listening, we’d still have to rely on interviews, surveys, and focus groups.
It’s a draw-dropping capability in finding what consumers love, hate, need, and want. We can input any topic and comb the far reaches of the web to pull in every mention of it. This type of text categorization is a game-changer for finding consumer insights fast. It tells you what people are talking about and in relation to what. NLP catches everything, including brand mentions, emotions, behaviors, and much more. Not only can we capture it, but we can also measure sentiment, which tells us how consumers feel about any topic.įor the uninitiated, robust social listening capabilities tell us much more about consumers than just sentiment measurements. Using NLP, social listening tools give us a virtually unlimited data set of consumers expressing themselves on the web. Words and phrases are categorized and assigned sentiment values – -1 for negative and 1 for positive. Today’s artificial intelligence uses natural language processing (NLP) to derive consumer insights from the everyday language used online. These tools use artificial intelligence (AI) to dig deep into the language consumers use that reveals their habits, intentions, perceptions, desires, and needs. However, for our purposes here, consumer insights are uncovered using analytics tools to collect and process data. In a nutshell, consumer insights refer to any piece of intel that helps explain consumer behavior.
Consumer insights how to#
Let’s jump into the basics and build out from there, so you know what options are available to you and how to turn insight into action! What Are Consumer Insights?
But your brand is much better off with actionable consumer insights to help you shape your decisions.
80% of consumers feel that the customer experiences a brand provides are equally as important as the products it produces and the services it renders.Įach of these stats are nuggets of intel your brand could potentially strategize around. For instance, Millennials are the most diverse generational group in US history, with 44% being racial or ethnic minorities. Using customer analytics to understand the nuance of your target audience is critical. Since the beginning of the pandemic, 75% of US customers say they’ve tried new shopping behaviors for both economic reasons and shifts in personal priorities. Conversely, shoppers exhibit more brand intent when purchasing in the health/beauty and apparel/accessories categories. Consumers tend to visit multiple ecommerce sites when looking for consumer electronics, home items, and Furniture. How consumers shop depends on what they’re shopping for. A survey by PwC found that 32% of respondents don’t have a problem paying a higher price for a product from a brand known for their ethical business practices. Here are a few recent examples of how consumer behavior is playing out: Even if your brand is on the right side of them, consumer insights into your audience will help you adjust and capture even more share of voice. What to look for in your data analytics tools for consumer insight successĬonsumer statistics are a survey of how behaviors are playing out in the marketplace. Turning consumer insights into marketing gold. Here, we’ll take a deep dive into the voice of the customer and show how a holistic consumer perspective enables surgical precision in your marketing. And once you know your audience inside-out, you can craft precise messaging to speak to the issues most pressing to you and your customers. Data analytics provides the ability to capture a 360-degree, multi-dimensional viewpoint of your target audience. What do we mean by consumer insights? We’ll get into that in-depth here but suffice it to say it goes far beyond your sales figures and how many 5-star reviews you have. Still, a messaging strategy built around trustworthy consumer insights is how top brands build communities, generate UGC, and leave their audiences feeling entertained and better informed. That being the case, marketers have to work extra hard to build trust with consumers while building a relevant brand image through their messaging.Īt face value, brands appear to have their hands tied from the beginning. And to compound that issue, people trust what others say on the internet more than they trust a brand’s marketing message. Consumers have many brand options these days, which helps explain why brand loyalty is at an all-time low.
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