What is Consumer Insight?
Consumer insight is all about trends, behaviors which are analyzed by the consumer data and then utilized to make a brand decision. This helps you to understand who your consumers are, and what they want from your brand – to help you to make better decisions about how, when, and what to sell them. These insights are helpful for marketers. It improves their consumer experiences, optimizes their campaign results, and increases profitability.
Nike’s ‘Find Your Greatness’ campaign aimed at promoting aspirations of being an athlete at the beginning of the 2012 Olympics in London. According to the brand’s consumer insights, the majority of their target audience was not professional athletes, but people who wanted to be more like them.
Their campaign aimed at inspiring all of the audience members to achieve their greatness. Pushing your limits isn’t only for top-level athletes, as Nike concluded. So, it’s not just the medal-winners and record-breakers who should wear Nike, but everyone ready to push their boundaries no matter their fitness level. The inspiring message had enormous appeal for their target consumers.
This particular example displays that when advertising is based on what the consumer wants as well as the core values of the company, both inevitably get what they want.
Why is Consumer Insight Important?
“At the heart of an effective creative philosophy is the belief that nothing is so powerful as an insight into human nature, what compulsions drive a man, what instincts dominate his action, even though his language so often can camouflage what really motivates him.” – William Bernbach
This quote by William Bernbach, who is the U.S. insights pioneer and a major figure behind the Creative Revolution of the ’60s, remains fitting even today. As a brand, it’s important to listen to your consumers, follow up on their insights and understand what they want.
Consumer insights when used to their full potential can provide amazing results. Instead of wasting budgets due to misplaced ads, marketers can use their customer insights to make data-driven decisions. They will achieve the same results with less money since their campaigns will be reaching the right people, on the right channel, and at the right time.
Therefore, it’s necessary that every business starts to use consumer insight to customize its marketing according to the goal of its campaign.