How Consumer Intelligence is enhancing Customer Experience?

Consumer Intelligence (CI) is all about gathering and analysing consumer data to understand what consumers are doing, what consumer are saying, learn from them and gain insights to create and deliver outstanding customer experience (CX).

A preferred way of capturing consumer insights is by hearing natural conversations (what they want, what they like or dislike) and tracking their behaviour by using conversational intelligence tools and techniques.

Find out what consumers want and how they want it.

Conversational intelligence tools (AI powered data driven) and techniques (Social & Market Intelligence), allow:

• monitor and listen authentic consumer conversations without asking questions
• analyse consumer sentiments, behaviours, preferences and expectations
• identify patterns, trends and shifts
• get consumer insights from the data they reveal spontaneously in real time

How we can get consumer insights?

By listening conversations with conversational intelligence tools, we can collect, analyse and obtain relevant insights about consumer needs and their expectations as a real time focus group:

• the difference: it’s more natural and spontaneous
• the advantage: it’s no only a one-shot, so we can update insights as soon as preferences and behaviours change in a constant evolving environment. 

In order to obtain valuable insights from conversations, we need to know first what are the business goals, what data needs to be collected and how it will help to understand better our consumers.

We can work at two levels:

• what’s happening (market research): who, how, where, when and what 
• why it’s happening (consumer intelligence): sentiments, emotions, patterns and trends 

See below some key questions we should ask before designing a social & market intelligence strategy to get consumer insights:

• who is really my consumer? what segments? what are their characteristics?
• how consumers behave when they are interested in a product or service?
• how consumers behave in different moments / channels?
• what do they like about or brand, product or solution?
• what drives engagement?
• what drives purchase decisions?
• is product / service fitting expectations?
• what are we doing right or wrong as a brand?
• what do they like or prefer about you and about competitors?
• what is currently not covered?

Why do we need consumer insights to deliver relevant CX?

Understanding how consumers behave, feel, think and want is key to design and manage a differentiated and relevant CX at each step and all touchpoints before, during and after conversion. 

Turn consumer insights into relevant CX.

Consumer insights helps to improve effectiveness, foster sustainable business growth and ROI:

1. Create segments using demographics and / or attitude data

Identify and segment audience by demographics, household profiles, interests, generation characteristics, age ranges, gender, languages, locations, channel & media among others.

2. Build customer centric strategies by monitoring real time conversations

Consumer conversations are a goldmine. Monitor conversations by segment in order to know where consumers are (channel & media strategy) and what consumers need / want (content & solutions strategy) to design real customer centric strategies.

3. Optimise customer journey to deliver relevant customer experience

Know what a specific audience segment do / feel / need / want in a specific stage of customer journey or phase of conversion funnel (prospect, lead, customer, …) to learn about: 

• how they behave when they are interested in a product or service
• what are the touchpoints and steps 
• what are the critical pains or frictions
• what works and what doesn’t
• how they feel in each phase
• how to tailor processes and services
• how to meet expectations

4. (Re)define value proposition to gain competitive advantage

Understanding what really brings value to consumers, what consumers like about a brand, a product or a solution, what is right or wrong is key to communicate why a consumer should select you among others and what really differentiates your offering and service over many others.

The ability to deliver unexpected added value to the right consumer, at the right moment, through the right channel with the right value in an evolving environment will help to:

• make consumer life easier
• save them time
• anticipate to their needs
• make products and / or services more interesting for them
• keep brand at the top of its mind
• build fruitful relationships

5. Detect business opportunities and product developments 

Listen market segment communities to find ideas for new features, new products development, or new services that currently are not covered.

Identify what macro-trends are changing and what emerging trends we need to keep an eye on.

Monitor how consumers talk about competitors to know what they offer, how they do it and/or also which direction they are taking in order to find gap opportunities.

Key takeaways

Pharma, MedTech and Consumer Health companies need to understand how new environment, ecosystem and dynamics are impacting stakeholders, market and business. 

Social and Market Intelligence not only contributes to better understand patients, caregivers, healthcare professionals, providers, markets and competitors, but also helps companies, organisations or institutions to monitor trends, understand targets and their needs, rethink value proposition, reshape business model or control reputation.

Monitoring, capturing and analysing online/offline and social media natural conversations (not prompted) we can obtain instant actionable insights through AI-driven analytics to create customer-focused data-driven competitive advantages empowering organisations to: 

• innovate and predict trends by identifying new business opportunities and sources of revenues
• maximise business impact and improve performance instantly 
• detect and measure issues in real time to protect and manage reputation, risk and crisis

From intelligence to impact and ROI.

From intelligence by leveraging AI to obtain consumer insights and analysis, that enable instantaneous data-driven decisions to develop customer centric impact strategies to foster sustainable business growth. 

Consumer insights are a weapon to understand how you can improve your customer experience, because great CX leads to happy customers, and happy customers to healthier bottom lines.