What is customer insight?
Customer insights are customer-related data (demographics, preferences, interests, shopping behavior, etc.) that are aggregated, statistically analyzed, etc. through observations, feedback, surveys, tools, etc. Customer insights provide in-depth perspectives and information about customers to help businesses see their problems, needs, desired experiences, and expectations.
What is customer insight?
What is customer insight?
Benefits of using customer insights
Customer insights help businesses gain a deeper understanding of their customers’ behaviors, needs, and preferences, how they think and act, and use it to better tailor their products and services to them. Analyzing and making changes based on customer insights data can bring many benefits to businesses, such as:
Identify the reasons why customers leave:
Customer insight research allows you to look at the problem more proactively and objectively. You can find out the reasons why customers leave and fix it.
Improve customer experience to build customer loyalty, maximize customer lifetime value: Through customer insights, you can analyze and explain the purchasing behavior of target customers, thereby drawing experiences to improve the purchase journey (CJM), maximize customer value, and promote sales growth.
Create customer segments and groups: Customer insight data can help businesses create customer profiles, divide groups, and create accurate customer segments so that businesses can easily plan to attract and reach customers. Example of customer insight: Tracking demographic factors such as age, income, gender, and location of customers, etc. helps businesses identify common characteristics of customers in the target market. Businesses can take advantage of this information to develop campaigns to attract potential customers in demographic groups.
Customer insights bring huge benefits to businesses
Customer insights bring huge benefits to businesses
Helps develop effective marketing and business strategies:
Understanding customer insights is a new step forward for businesses. Customer insights not only help develop marketing and business strategies but also target the right customers.
Personalize customer service: Your customer support team can provide personalized customer service when valuable customer insights are available. Personalizing service helps employees understand customers’ needs, product search goals, etc. to advise, persuade, and provide customers with the right product, the right need, at the right time.
Predict customer trends: Identify purchasing data and make predictions about future trends, giving businesses the opportunity and advantage to develop new products and lead the market.
Improve product quality: Conduct customer insight research to make appropriate recommendations for product improvement and development. Customers who have purchased the product can give honest comments on performance, errors, etc. and potential advantages so that businesses can create good quality products, meet customer needs and fix existing errors.
5 easy ways to identify customer insights
Customer insights can be collected from many different data sources such as:
customer service data, transaction/payment data, product and service reviews, market research, customer purchase history, etc.
Based on online customer reviews
Online customer reviews are the most authentic source of how customers feel about a business’s products and services. Read and research reviews to learn about customer experiences, what customers think and feel when buying, what customers are not satisfied with and need to improve, etc.
Identify customer insights through online reviews
Identify customer insights through online reviews
Online reviews include reviews on Google, Facebook, e-commerce platforms (Shopee, Lazada, Tiki, …) and on the business’s own website. How to find customer insights through online reviews:
Synthesize and arrange reviews from high to low (For example, reviews on Google, Shopee have the highest rating of 5 stars)
Find out the outstanding advantages that customers appreciate in the company’s products, exploit and develop those advantages in the future.
Review and handle complaints promptly, listen to customers to recognize product shortcomings
Through online reviews, businesses can understand the terms and keywords that customers often use to describe their problems and needs. Then, businesses can cleverly apply these keywords to advertising articles.
Product descriptions and introductions
According to Review Trackers, 73% of all reviews are distributed on Google. And according to TintUp’s UGC report , 72% of potential customers are more likely to make a purchase based on reviews and testimonials than any other factor. So encourage customers to leave reviews, don’t be afraid to ask your customers for their reviews and experiences with your product.
Use customer insight research tools
Some customer insight research tools such as Google Analytics, Insights (Audience Insights) of Facebook/Meta Business Suite … help businesses collect:
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Behavioral data: what keywords customers searched for when they searched for your website, what links brought them to your website, what content customers are most interested in, what’s trending, etc.
Demographic data: age, location (city, country, …), gender, interests, devices, …
Campaign data: which ad campaigns are driving leads and sales, which customer paths to your landing page are effective, how many people add to cart, what percentage of customers pay, etc.
Easily identify customer insights through online tools such as: Audience Insights
Easily identify customer insights through online tools such as: Audience Insights
This is why businesses need to have a website
The data on the website helps businesses learn customer insights, track the effectiveness of advertising campaigns, marketing, etc. How to research customer insights from website data:
Identify relevant keywords and topics when customers search for your business website
Find out why customers leave the page to optimize the website, add calls to action in appropriate positions, support and advise customers promptly and at the right time to bring the best experience to customers.
Identify which links or media channels are driving more conversions.
From there, businesses can allocate appropriate resources to understand customer behaviors and trends and reach target customers.
Customer Survey
Although there are many ways to research customer insights, surveys are often the most flexible and play a key role in the research process. With surveys, businesses can collect data quickly and frequently. Businesses can quickly share surveys online via email, social networks, applications, messages, etc. Surveys allow businesses to receive information about when customers make purchases and the factors that make them make purchasing decisions. You can refer to the following survey questions:
How do customers know about your business? (media channels, newspapers, websites, etc.)
Which product of the business do customers like the most? (customer preferences, issues of concern)
Factors (consulting services, customer care, delivery, return policy, product packaging, …) that customers want businesses to improve
What makes customers decide to buy from your business instead of your competitors?
What can cause customers to leave your business?
Determining customer insights through surveys is a popular and effective way.
Determining customer insights through surveys is a popular and effective way.
Benefits of identifying customer insights from surveys:
Understanding the needs and desires of customers is necessary to exploit and develop product strengths and improve weaknesses.
Identify the strengths of the business compared to competitors to promote development
Build a business development and branding plan based on the factors that customers want businesses to improve.
Through customer can having an online store save your business during the corona crisis? interests and concerns to search and get ideas for new products.
Rely on social networks
People are not shy about praising or complaining on social media, making it a great place to gather customer insights. You can monitor comments and posts to track and gather information.
Understand customer insights better through information and data from customers’ social networks
Understand customer insights better through information and data from customers’ social networks
How to find customer insights from social media:
Get a feel for the language your customers are using so you can speak the same language as them
Understand customers’ perspectives on issues to build a brand and business image that is suitable for the target customer base.
Learn about product preferences and needs to be able to make predictions and statistical reports about new products.
Interacting with customers through social media makes them feel cared for.
Through posts of praise or complaints on social networks, businesses can also find shortcomings so you can improve.
Using chatbots
In addition to using chatbots to communicate with customers, you can also use chatbots as a great source of customer insights. Here’s how to identify customer insights from chatbots:
Demographic data: age, location (city, country, …), gender, interests, devices, …
Behavioral data:
first-time customers, previous purchases, adding products to cart, etc.
Common problems that customers are facing and need to be solved
Top and worst performing product pages
Using chatbots to collect and analyze customer insight data
Using chatbots to collect and analyze customer insight data
Make sure your business aqb directory leverages and compiles customer insights to get as much information about your customers as possible.
The ability to observe and analyze customer insights helps businesses better understand how to meet customer needs and how to effectively market, market, launch new products, etc. Businesses should take advantage of deep understanding of customer insights to improve sales and retain customers to increase sales, helping businesses develop sustainably.