Insights to Markets are the nuggets that marketers can use to formulate their marketing strategies. The problem is that researchers often deliver a decade’s worth of trend data, which doesn’t necessarily resonate with tactic-based marketers. Instead, insights should highlight a market opportunity and provide specifics on how to formulate that opportunity into marketing.
Market research
Market research involves collecting information, analyzing it, and identifying insights. Market Insights practitioners are experts in this field and deliver these insights as turn-key thoughts to marketers. They use the data to formulate actionable recommendations for their clients. These insights are valuable for a range of business functions.
Market research involves a mix of quantitative and qualitative methodologies. It aims to understand consumer preferences and identify opportunities and gaps in a market. It also helps define industry trends and current needs. Market research is crucial for determining the best strategy for a company and can be done in a variety of ways.
Market insights are actionable information that a marketer can use to improve their marketing. It helps marketers understand their audience better and make more informed decisions. It is the result of deep data analysis that uncovers how buyers think and what motivates them to buy a product or service. By using market insights to help improve marketing precision, businesses can achieve better ROI.
Consumer insights
Consumer Insights to Markets are a key component of data-driven marketing. The process involves collecting information from multiple sources to determine consumer preferences, needs, and trends. Market researchers can also identify missed opportunities and product mix gaps. Successful research can provide accurate data and insights to help create consumer-focused products and services. Whether you’re selling products or services, these insights can help you shape your business strategy.
Consumer insights help companies refine their products and marketing strategies by predicting consumer preferences and behaviors. They also suggest new products and services that may appeal to consumers. For example, a yoga studio may use consumer insights to develop a schedule and alter it based on customer feedback.
DeepMacro
The technology behind DeepMacro brings automated real-time macroeconomic insights to markets. The platform uses a combination of traditional and novel “Big Data” sources to understand global macroeconomic trends. The technology works by converting the underlying variables into a “real” growth factor and incorporating them into dynamic factor models.
The system emulates how markets process information, analyzing and pricing both public and private information. Private information can be based on personal experience, direct observations from consumers, or observations of supply and demand on the Internet. DeepMacro works by taking private information and aggregating it into global market analysis. This data is available for each country and is filtered according to the strength of its relationship to industrial activity.
Personalized experiences based on real data
Personalized experiences for markets require the right data foundation. Without real-time access to customer data, personalized experiences can only be as good as the data itself. However, it’s not just about collecting data; it also involves integrating it across different arms of the organization and acting upon it at critical moments. AI and cloud computing can help brands achieve this goal.
Personalized experiences are built by delivering highly relevant content to customers based on their previous behaviors, preferences, and profiles. This approach can be challenging to implement, but brands that are successful in this area view it as an organizational opportunity that can drive better results. The key to building personalized experiences is to develop a customer-centric mindset.
Business Partner
Business partners can be a key part of the strategic planning process. They provide an array of expertise and experience that can benefit the business. For example, they can offer market insights and analysis about the financials of a market offering. Their role can vary based on the partnership, including analyzing profitability drivers, access to suppliers, and other factors.
