All successful businesses have one thing in common: they understand their customers. It has become imperative for every business – big or small – to know what their customers think and feel, and why they behave in certain ways. The conventional wisdom to do this is to conduct market research, but that is only the first layer of achieving the goal of understanding customers.
It all boils down to how do you turn knowledge, statistics and data into actionable, consumer insights. Read on to find out everything you need to know about consumer insights research from a market research company in Malaysia.
What are Consumer Insights?
Even seasoned marketers can mistake consumer research with market research. While both are not mutually exclusive, consumer research which results in consumer insights, introduces steps to take in boosting company’s growth. In simple terms, consumer insights provide beyond the ‘what’ in data and inform the ‘why’ for us to come up with the ‘how’.
These insights can result in immense growth and success for you as a brand or business, and help you communicate effectively with your audience on a grass root level while more accurately addressing their concerns.
On an artificial intelligence (AI) consumer research platform, Vase.ai ensures effective consumer research through online surveys in three ways:
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A Talented Team
While the ability to collect data has certainly become much enabled and easier in this digital age, the devil is in the data. A trustworthy team of analysts and research experts can help you make sense of data and unveil precious insights combined with extrapolated reports for you to make decisions with certainty.
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Accurate Data
High-quality data paints a more accurate story than just any data. The process of collecting complex data can be a long, complex, expensive and uncertain process when it doesn’t have to be. Vase.ai gathers data through surveys sent out to its panel of verified respondents. To prevent duplicate entries, Vase.ai’s online panel sends unique survey links with one entry per link. The panel also cross-validates the respondents’ demographic information with Vase.ai’s existing information. -
A Goal-Oriented Approach
Whether it is brand insight, product data or campaign effectiveness, you need your goals determined from the get-go. As a leading market research company in Malaysia, Vase.ai exercises this philosophy through comprehensive user onboarding experience that includes streamlining your goals with business needs, best practices in doing consumer research and tips to leverage our AI platform.
Why are Consumer Insights So Important in Marketing?
The world is experiencing continuous paradigm shifts with new business disruptions and challenges emerging each day. Everything has become customer-centric, and brands are quick to revolve their narratives around what customers want and crave.
This means, the competition to satisfy customer needs is at all-time high.
There is a myriad of factors that drive customers to make purchase decisions. Beyond than getting a product, they look for intangible things such as buying experience, emotional appeal, customer support and many more. Understanding and providing what they want and love will result in satisfied, returning customers.
Consumer insights allow you to answer questions regarding your brand such as:
- What are the top 5 admirable features of your business?
- How does your target audience discern your brand?
- What are your highest- grossing products?
- How can you enhance your conversion rates in the market?
Businesses can utilize these insights to expand their product features and customer services. These can also be useful for developing better marketing strategies and customer journey mapping.
Benefits of Consumer Insights
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Enhances Customer Experience
Good customer experience is convenient, consistent, effective and memorable. A closer look into your customers’ behaviour and needs can help you enhance your products and services to outshine your competitors. -
Promotes Personalized Marketing
One way to utilize customer insights is to create personalized marketing plans for your targeted audience. Customer insights can help you pinpoint what your customers want, and this will help you design a winning marketing strategy.
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Identifies Declining Sales
Statistics will tell you that your sales are declining, but why are they declining? That's where your consumer insights kick in. They shed light to where and why these problems occur to help you strategize for better conversion rates. -
Expands Business
Customer insight can help you test the waters before you make that dive. Entering into a new business realm can be risky. Consumer insights can give you a preliminary look into what your customers want, enhancing your chances of success in the field. -
Boosts Brand Development
A well-developed brand with enriching ideology and planned goals is a dream come true. However, developing a brand can be time-consuming and tiring. Consumer insights can help you make more accurate decisions to accelerate the success and development of your brand, bypassing the trial and error period.
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Increases Customer Retention
Keep your customers forever! Consumer insights give you thorough awareness of your customers' thought processes. This can not only help you drive conversions, but it can also help your customers stick to your brand forever.
Why do you need Vase.ai as your Consumer Insight Researcher?
Vase.ai provides businesses with a valuable tool to conduct surveys and ask questions about their consumers based on their industry, geographical location and target demographic without the need for excessive budgets or research skill sets. From market research to product validation and testing, our Validation-as-a-Service software allows marketers to get data-driven insights as quickly as in 24 hours, speeding up the planning process.
