RIGHT NOW OR NEVER RIGHT NOW OR NEVER
For businesses to better understand their customers and unlock new revenue streams, marketers need to act fast to turn insights into results in real time...
By Allan Tennant | May 13, 2015
For businesses to better understand their customers and unlock new revenue streams, marketers need to act fast to turn insights into results in real time, but does anyone really comprehend today’s world of accelerated change, magnified by the immediacy and impact of the available technology like; internet, smart phones, social media etc.
Whether customers belong to the Silent Generation, Baby Boomers, Generation X Generation Y or Generation Z, Millennials, Digital Natives et-al, their views, the way they act and dress, how they are informed and kept up to date and amused, and everything in-between, is guaranteed to be very different. Marketers just need to look at how our local Millennials seamlessly align with their global counterparts to understand the ultimate clue of the compressed world we are living in today. Increasingly, young people across the world consume the same media, through the same devices, interact with the same brands and even chase similar aspirations. This apparent equivalence should not deceive brand marketers and advertisers into thinking that they can communicate with Millennials in a singular voice.
Within this wide age range exists a universe of divergence and nuance and if marketers forget this, it will be to their detriment. It’s little wonder then that never before has it been so vital for marketers to constantly stay in touch with the changes and innovations that are incessantly taking place and that will profoundly affect their operations right across the board.
Recognising these real-time challenges faced by clients today is vital and it’s a no brainer that a range of innovative research techniques need to be developed to provide marketers with a fuller, faster picture of what is really happening in the marketplace and to their brand – we can no longer base our actions on yesterday’s information, we need to know and act on what is happening right now.
The value of being able to timeously access consumer attitudinal snapshots is immeasurable, providing that marketers are armed with the critical current insights, providing the vital competitive advantage to refine tomorrow’s strategies, to outthink competitors and to inspire staff and customers at every turn today (see the recent survey that looked at which coffee brands were best at engaging customers and why there was a shift from the quicker McDonald’s to the slower, more expensive Starbucks by Millennials).
See article below: http://time.com/money/3680474/starbucks-fast-casual-mcdonalds-fast-food/
This new inflow of quick information within the context of each brand generated by using intelligent gathering, analysis, insightful usable results can be achieved by translating new social search methodologies – enabling us to simplify the interaction process, via precise candidate sourcing and engagement, so that we can consistently and accurately track vital consumer experiences, views and opinions.
Instantaneous consumer insights that marketers should be aware of like; Size, Selection, Significance, Substance and Speed are essential to identifying subtle perceptions and empathies that are needed now more than ever to create inspired creative campaigns that are famously effective.
Size: Essential identification of the scope of the market segment being considered that needs to be reached and on which the planning and accompanying allocation of resources, budgets etc. of the campaign to be created will be based.
Selection: The choice of the market selected in terms of its; magnitude, choice, variety etc. clearly distinguishing the chosen market group to ensure we empathize with our customer and that the intended brand messaging is understood.
Significance: Importance of the intended segment in terms of its worth and the implication / importance of this market sector and the measure of the confidence that can be placed on the selection
Substance: Possessing vital insights as the key to developing relevant messaging that can create cultural value and drive commercial success to make the campaign famously effective.
Speed: The rapidity and pace required to achieve the necessary campaign momentum to ensure success