Consumer Insights: Objective
The objective of this pill is to provide a practical approach to thinking of consumer insights. We present a three-step model, which allows separating the insight into three key components. By using the model, we can more effectively generate insights, but also write them, which is a key step into testing and validation. Harnessing consumer knowledge is helpful both at the strategic and operational levels. It is a key driver of innovation development and successful launches, but also a key piece of the puzzle in understanding promotional effectiveness, predicting churn, or determining ideal pricing.
Consumer Insights: Examples
In the pill, we analyze some real-life examples and look at how brands leverage each of the components in real life. This allows us to understand the real-life consequences of the choices we take in the modeling, but also keeps the focus very practical.
- What is an Insight? Definitions and Examples
- Insight Framework: Actual Consumer Belief, Benefit, and End-state
- Dos and Donts: best practices in building, writing, and validating insights
According to advisory giant McKinsey:
Consumer beliefs and behaviors are changing fast. To keep up with—and perhaps even influence—those changes, companies must leverage deep consumer insights.