Inform your marketing strategy
It’s amazing how much we got out of this research. Not only did it help us to understand our markets but it was also used in our strategy decision making and it even fed into our marketing infographics.
Elsevier Health Sciences | Marketing Director, APAC & EMEALA
Whether you are selling manufacturing equipment to factories in India, medical devices to hospitals in Mexico, or payment software to banks in Saudi Arabia, investing a little in knowing what really makes your current and prospective customers tick – and buy – will pay back a lot.
Customer Insight is a hugely powerful and versatile research and analysis approach that guides decision making on many business-critical strategy, marketing and sales issues. It can be used to identify and explore satisfaction levels, loyalty, unmet needs, brand and price perceptions, new product viability, market segment opportunities, potential competitive threats… the list goes on.
Let’s talk about Customer Insight.
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GGM's approach to Customer Insight
While this is a broad and potentially complex area of intelligence and strategy, GGM’s approach to Customer Insight often focuses on one of three essential applications:
Market segmentation, essential in the context of new market entry, increasing penetration, new product development, identifying marketing channels and creating appropriate messaging for different audiences. It allows you to define, understand and prioritise different groups within your overall target market, for marketing targeting and positioning purposes. B2B insights might be broken down by industry vertical, company size or decision-making responsibility. And for consumers, perhaps by location, age group or buying behaviour. Taking it one step further, cluster analysis allows us to create market segments based on combinations of variables.
Customer behavior and perception, used for example when exploring new markets or keeping up with changes in existing markets. This type of insight looks at ownership and spending, as well as future plans, identifies influencers and decision makers, maps out the purchasing journey, and uncovers perception attributes and their association with different brands. We pull all this together to generate informed input into segment targeting, competitive positioning, pricing and brand communications.
Voice of the customer, a B2B research approach that provides an objective understanding of your established customer base which goes far beyond the feedback your sales team can pick up in the field. It can be used for example when updating your pricing model, looking for incremental sales opportunities with existing customers, or just staying one step ahead of the competition. ’VoC’ can identify pain points, product or service improvements, competitive gap opportunities and ways to lock in customers by helping them meet their future business goals, and much more.
The data acquisition methodology may be:
- CRM analytics data
- In-person meetings
- Phone interviews
- A web survey
- Via social media
- A combination of the above
What you get
The output from this type of research and analysis usually provides large amounts of data and insight, which is useful for big-picture building. But homing in on the deep insights into information sources, perceptions, influences and decision-making is what really allows you to understand how and when people buy, and why they choose one brand over another.
We then aim to summarise our strategic conclusions in a concise series of one-page graphics which act as a ready-reference for sales leaders, marketing directors and top management. We are also firm believers in the power of verbatim quotes, which give you direct access to what’s going on in the mind of the customer.
Our tried-and-tested in-country research and analysis approach delivers reliable insights and pragmatic strategic advisory. You will receive a draft findings presentation or workshop – during which we listen to your feedback and note any questions and follow-up requests – followed by our report and recommendations, with a supporting data set where relevant.
This type of reporting provides accessible and irrefutable evidence for the strategic direction being recommended to your decision-makers.
