The biggest challenge facing marketers is how to manage all the data they have to provide meaningful insights that drive brand objectives. Big data has become a buzzword within the online marketing community but, frankly, there is too much data and not enough “insights” into consumers and customers. Whenever I attend focus groups I always hear things that big data doesn’t reveal.
Bob at the Type A group says “according to a study by Havas Media, “…in Europe and the US,[inlinetweet prefix=”” tweeter=”” suffix=””] people would not care if 92% of brands disappeared.” [/inlinetweet] Of all the factors relating to consumer behavior, perhaps none is more mischaracterized than brand loyalty.[inlinetweet prefix=”” tweeter=”” suffix=””] Most of what we call “brand loyalty” is simply habit, convenience, mild satisfaction or easy availability[/inlinetweet].” Now I wouldn’t go that far but he has a point.
When I work with CPG companies I find that the most meaningful insights come from qualitative research, not “data decks” with numbers and stats. Data decks are a procrastination tool because most marketers don’t understand what the data tells them and by the time they figure it out it’s too late.
The best way to make your brand more responsiveness is through an internal audit that ensures that all your processes are aligned around consumers, not what’s best for your department.
Consumers, for the most part, feel that instant gratification takes too long. They want responsive brands and that is one conclusion that has been a constant in every research panel data that I have read. Get out and watch and listen to consumers. They’re more than willing to share their thoughts as to what they expect from the brands they purchase. It sure beats big data.