How to get consumer insights from research |
Posted: December 6, 2022 |
As a business owner, one of the most important assets you can have includes consumer insights. However, as you might have found already, consumer insight research is not easy. It takes time, it takes patience, and it needs to be validated by market study companies who understand data. This avoids making big conclusions based on small data sample sizes. How, though, can you get consumer insight research to work on your behalf? Here are some places to focus on. The best places to find valid consumer insightsCustomer and product reviewsThe first place you should start looking for insight into your customers will be the reviews they leave behind. Customer and product reviews tell you a lot about what you are selling, and how good a job you are doing. This is vital information, and it can go a very long way to making sure that you can build a better idea of what your products do right and what they do wrong. You can then make meaningful changes to your products based on the insight stemmed from these reviews. Focus groupsWhile this is often something you would use a customer market research specialist to find, focus groups can be very useful indeed. They make it very easy for you to start building a better idea of who you should target, and why. It can also play a significant factor in making sure you address common frustrations and problems with your business. From website performance to your sales tactics, focus groups can help you to re-align your business accordingly. Customer purchase historyAlready got some people buying what you sell? Excellent. You can then use their purchase histories to get an insight on what your clientele are buying. Say you provide them with Product A – how many of them buy the upsell-worthy Product B? Are you seeing any interesting links from one product line to the next? If so, you could use this to inform your next product releases or even the sales bundles you piece together in future. Customer surveysA useful way to learn about your audience comes through surveys. Customer surveys can be sent out to people whom you have communication details for. This information can then be used to build insight on what you are doing right and where you might be going wrong. Companies that have a decent user base and who can easily communicate with their customers via email can find sending these surveys out both useful and effective. Social media channelsSocial media is a modern entity, and it would be remiss of your company to not use it to your advantage. By trawling social media, you can build insights on the kind of people your business should be targeting. However, social media channels need to be closely moderated and validated by research companies. It is easy to extrapolate the views of a few to be the views of the many. Keep that in mind, and you can make your job so much simpler. Looking for support on customer market research?Then the best thing you can do is hire a professional. While you can carry out customer research insight yourself, the main problem you have is accuracy. That is why it is better to hire a research and markets company. A company that can bring you the insights we have spoken about above could save you time and ensure that the insight is accurate. Take a look at hiring one of the market research companies in Canada, for example, and you can crack this growing North American market. Understanding your consumers is essential and hiring insight from an expert can ensure you get the information you need in a way that you can parse, understand, and use to your advantage.
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