4 tips to improve your consumer insights strategy using AI | Deeper Insights™

Having the right consumer insights is like having a sneak peek into the future, enabling your business to innovate from an advantageous position. For example, consumer insights are particularly useful when you’re developing a new product, a new service or adding new features. While experience and past knowledge from product leaders are essential, it’s dangerous to roll out a new product without finding out what your intended customers really want.

The Consumer Packaged Goods (CPG) industry is highly competitive with a real challenge when it comes to market fragmentation. How can data help to effectively group market fragmentation? The first step is to know your audience’s preferences and what they are looking for; just like how you wouldn’t buy a 36oz porterhouse steak for your vegan friend. This information can be deduced from structured and/or unstructured types of data.

Use that data to create and define a strategy, then create personalised experiences. At the end of the cycle, more data should be collected and the results analysed.

Consumer insights are the best source to learn about your customer expectations, what they are thinking, what they like and what they don’t like. Thus, in order to utilise data effectively in different areas of your business you need to perfect your consumer insights strategy.