As social media apps become more influential and the pandemic maintains the online shopping trend, understanding consumer behavior through consumer intelligence will enable organizations to plan marketing strategies properly.
Consumer intelligence not only provides businesses insights on how to market products but also how to ensure the sufficient supply of a product. The recent Lunar New Year celebrations proved to be a huge challenge for businesses.
As consumers spend more time on social media, brands must leverage AI-enabled consumer intelligence that draws from the millions of first-party and third-party data points to better reach their audiences.
Consumer insights can be used to design authentic and personalized experiences. Whether it is unique, interactive or socially relevant campaigns in order to make emotional connection with the target market, particularly Gen Z and Gen Alpha.
These two segments combined will have the biggest purchasing power of any generation, and consumer intelligence providers will enable brands to optimize their customer engagement approach, said Soubies. He added that brands must first distinguish between micro, macro, and mega trends, emphasizing what works in one market, may not necessarily work for another.
To better understand customers, brands must determine the mix of data, study what the competitors are doing, and compare findings to a brand’s signals. This will help businesses identify the messages they want to convey.