Market research and consumer insights are not polar ends of a spectrum. They are part of the same continuum, and must work together.
Market research is a multi-faceted and strategic approach that helps reveal WHAT a marketplace (or multiple marketplaces) truly look like in terms of demographics, competitors, trends, and so on.
Consumer insight reveals WHY customers behave in certain ways based on variables and factors, such as brand perception, relevant marketing messages, and so on.
At Marketing Search we have sourced solutions that address both the WHAT and WHY for our business customers — that is, combined market research with consumer insights to empower businesses with actionable intelligence and a more complete picture to make smarter, safer, faster and more profitable business decisions in their marketing.
Market research without consumer insights is just data. And consumer insights without market research is just opinion. But if you put them together, you get what matters most: improved results!
Customer insight is the understanding of your customer, based on their buying behaviour, their experiences with your business , their beliefs or needs. Customer insights go beyond raw data or research, it is a multi-view of your customers derived from a strategic analysis of qualitative and quantitative data.
Customer insight analysis allows you to identify patterns in their buying, learn about their business operation, including product lines and find out exactly what's important to them.The real goal of a customer insight is to reveal something that a business can act upon.
Market Research & Customer Insight Activities
Providers of services listed in this category are generally independent and not part of a full service provider agency.
At Marketing Search, we recommend you always take the time to think critically about what you plan to do. Establish your marketing goals up-front and be very clear about your desired outcomes before approaching any provider.
By doing this, you'll prevent many unexpected and unwelcome bumps from arising further down the track. These obstacles inevitably cause budget blow-outs and time delays when it comes to bringing your project to market.
That being said, please take a moment to firstly reflect on our Checklist: Search & Selection of Marketing Service Providers.
Having done some basic research, you should now be well positioned to start your search for that ideal partner.
We recommend creating a shortlist of up to three providers in your initial search, with the aim to further qualify them down to two. Ask those two shortlisted specialists to then submit their proposal in person for your final decision on selection.