How can retailers use consumer insights to position their brand?

Absolutely, placing the consumer at the core of business strategies is key. By delving into consumer insights, we're not just collecting data; we're empathizing with our customers, understanding their unmet needs, and predicting future trends. This deeper comprehension enables us to craft marketing strategies and products that don't just meet expectations but exceed them. It's how we turn casual customers into advocates.

Leveraging data to interpret consumer insights is a gift, when used correctly. Taking the time to distill information and transform it into valuable tools to connect with consumers works well for brands that value getting to know their consumers. Data is king, but so is psychology when it comes to getting more of an understanding of the consumer and their motivations. The combination of the two results in brilliant execution in messaging, creative and activations.

Retailers can leverage consumer insights to effectively position their brand and build customer loyalty. Here's a concise guide:y 1. Consumer Insights & Significance: It is crucial data and essential for retailers to make informed decisions, these insights enhance customer satisfaction & loyalty through tailored strategies. 2. Collecting Consumer Insights on the basis of Surveys & Questionnaires, Customer Reviews & Feedback & Website Analytics. 3. Analyzing Consumer Insights on the basis of Data & Sentiment Analysis & Segmentation 4. Positioning Your Brand with Consumer Insights like Customize Products & Marketing, Positioning & Pricing Strategies 5. Building Loyalty with Consumer Insights by Personalization & Enhance Customer Service.

Consumer insights are critical if the customer is truly at the center of your business (if they aren't, you may be in trouble). Insights can come from anywhere, direct conversations, surveys, sales data, and more advanced analytics. Without it, what product will you sell? What will be your value proposition? How will you communicate it?

When you ask people about a brand's associations, you'll get mix of a conscious and rationalized answers. However, brain research has shown that a network of associations unconsciously activates, even before they consciously think about a brand. These unconscious associations determine consumer behaviour. Therefore, it's crucial to find the relevant associations for converting a non-customer into a customer within the unconscious brain processes. This can be done by combining fMRI in combination with an implicit online association test. In recent years fMRI and implicit association tests have dropped in cost dramatically. Such Neuro Brand Signature can be used to test new marketing communications.

This should be done by a professional agency, especially when relying on big data, brain scans or implicit reaction time tests.

In my experience, best insights are the 'simple' ones: those that seem so obvious you react to by saying 'I'd known that to be true since ever'. Couple of examples. Households with less spending income shop more frequently for food & groceries because they have less storage space at home. Households with less spending income prefer cleaning products with a remarkable scent, as opposed to high income homes that prefer neutral, clean scents. Both insights to differentiating product design, packaging, distribution, and pricing.