What-are-Marketing-Consumer-Insights

If you want to know if your targeted ads and campaigns are packing a punch and hitting consumers where it counts, you need marketing consumer insights. It’s this intel that guides your brand to success by revealing key details about your efforts across social channels and platforms. Let’s see which bits of this intel are most helpful – and why!

We’ll also share some of the top tools you need to dissect this critical information. Diving right in, marketing consumer insights are indispensable because:

  • 76% of consumers expect companies to understand their needs and expectations – marketing consumer insights reveals what they are, very specifically.
  • 40% of marketers are using consumer research to drive decisions – and that number is growing.
  • 74% of consumers are at least somewhat likely to buy based on experiences alone – which means creating a seamless and enjoyable customer journey from start to finish is incredibly important.

So, with that let’s take a closer look at what these insights can reveal.

The Importance of Continuous Consumer & Market Intelligence

What Marketing Consumer Insights Can Do for You

Whereas consumer insights provide intel on your consumers’ interests, professions, what they love/hate, etc. – marketing consumer insights tell you whether your campaigns and efforts are up to snuff – or not.

They reveal performance metrics and whether or not your efforts are resonating with the audience intended – and they you intended! More specifically, we can which demographics are loving/hating it and pinpoint how they’re talking about your products or services. This offers insight around how to message out to them, as consumers love when you speak their language and it uncovers purchase triggers. The way consumers talk about an item at each point in the purchase path can be pretty distinct, as you’ll see below!

Influencing the Masses

There’s no denying that influencer marketing holds the heart of your consumer. And it continues to grow, jumping from $1.7 billion in 2016 to $13.8 billion in 2021. Understanding this, it’s no surprise that 68% of marketers used influencer marketing in 2021.

But it isn’t as simple as partnering with a popular influencer. These metrics must be tracked and measured or you may be spitting in the wind, and that’s just awful. You need to know if your influencer is connecting with their audience – and if that audience is your audience.

And no one knows this better than Lauren Leahy, Analyst form  ViacomCBS. As she shared during a recent NetBase Quid LIVE, she was tasked with understanding the world of influence. She needed to sort out what was making consumers tick and then use this intel to find the right influencers for her company and its partners. Using market research and consumer intelligence, she was able to dial into the specifics and do just that! Be sure to check out her presentation to hear all about it.

Once you find your star, like Lauren Leahy did, your work is far from done. You then need to see if the effort is paying off.

For example, this influencer for Brand A is generating impression engagement, which is what a brand wants to see. You need more than someone with lots of followers posting about you. Just showing up in their followers’ social feeds isn’t enough. You want likes, comments, shares (64,960 retweets!)  and a good number of potential impressions – which @Todd_Spence certainly has.

influencers-with-lots-of-engagement

With 36K+ followers, his tweets seem to resonate perfectly, in fact. Our Influencer dashboard even allows us to see who reposted this – and it includes some standout names, which is all the more reason for Brand A to be thrilled.

influencer-dashboard

Continuing to track his posts over time, checking in frequently, will keep this brand on top of his performance, and reveal some additional influencers who just organically love what they offer. And that’s super valuable intel that should inform future key opinion leader or brand ambassador collaborations.

Converged Media Metrics – Earned, Owned or Paid?

Imagine you’ve just experienced a boom in consumer attention, but you’re unsure of where it came from. That would be valuable intel to have. Was it your most recent campaign, one of your Instagram posts, or a consumer review?

The only way to know is to have a social media analytics tool that clearly tracks these metrics. Armed with this intel, you can do more of whatever it is across your many channels.

To clarify there are three types of converged media metrics to have on your radar:

  • Owned – Your website or social channel where you push out content.
  • Earned – The content that your consumers create about your brand, which can take many forms including reviews and other interactions, and news media mentions too
  • Paid – This is content that you pay to put in front of your audience, such as ads or sponsorships.

Knowing where your audience approval (or disapproval) is coming from is critical to know where to place your efforts – and what to shift, as needed.

If the adoration is coming from an earned source, perhaps using this consumer generated content (CGC) to boost your brand’s presence may be in order. It’s already positively influencing others, why not give a boost to entice a few more? But without first knowing where this interest comes from, you can’t create a plan to keep this kind energy flowing. You’d just be guessing and that rarely pans out.

For example, marketing consumer insights below reveal where this top beverage brand is being mentioned. The lion’s share is on Twitter, though there is significant volume on Tumblr and forums, like Reddit. There isn’t a lot of love on Facebook and Instagram, so spending more to reach an unengaged audience may not be the best spend for their budget. And then media mentions are doing well also:

social-web-channels-where-consumers-are-talking

If the news is mentioning you, it’s important to understand context and track those mentions of the piece, to see how well it plays out across the web. Below, we’ve isolated the News mentions and organized them by keyword, labeled showing sentiment – offering a deeper dive into what is being reported – and how:

News-mentions-and-organized-them-by-keyword,-labeled-showing-sentiment-

The details matter – and this applies to every type of converged media.

When we examine paid and even partnered efforts, if your ad on Instagram is not seeing a lot of love, but your social media posts on Twitter are skyrocketing, it might not be an ad problem, but a targeting problem. The point is, you won’t know until dig in below the surface metrics to see what is really making consumers engage.

Purchase Path Indicators

It’s always a good idea to keep an eye on what consumers are saying throughout the purchase path. In fact, knowing where they are in the customer journey is a critical piece of the puzzle, as it allows your brand to build in messaging to encourage forward movement. And if you’re tracking this movement and notice hesitation, once again, you can help push them forward, past their doubts and misgivings.

cpg-consumer-journey-breakdown

How can you do that? By knowing which words are used in every phase of the journey, specifically understanding triggers and barriers for purchases. This helps brands design messaging that overcomes hesitation and any underlying concerns. Knowing exactly which concerns loom large is huge:

triggers-and-barrier-for-purchase

And then continuing to monitor conversations post-purchase is crucial for retaining those hard-won consumers. What are they saying about your product to their friends and followers? What is the emotion behind it? And what should you do about it all?

attributes-and-emotions-after-purchase

Marketing consumer insights in your AI-powered analytics tool is truly a lifesaver. It offers a bevy of consumer and market intelligence that’s in real-time. And it offers analyses that are immediately actionable, which is precisely what savvy brands who are prepared to pivot live for!

If you’re ready to put marketing consumer insights to work for you and reach for that next level in your category, reach out for a demo!

The Importance of Continuous Consumer & Market Intelligence

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