Consumer Insights - Knowledge Pills
Consumer Insights: Objective
The objective of this pill is to provide a practical approach to thinking of consumer insights. We present a three-step model, separating the insight into three key components. Using the model, we can more effectively generate insights and write them, which is a crucial step into testing and validation. Harnessing consumer knowledge is helpful both at the strategic and operational levels. It is an essential driver of innovation development and successful launches but also a vital piece of the puzzle in understanding promotional effectiveness, predicting churn, or determining ideal pricing.
Consumer Insights: Examples
In the pill, we analyze some real-life examples and look at how brands leverage each of the components in real life. This allows us to understand the real-life consequences of our choices in modeling and keeps the focus very practical.
Pill Structure
- What is an Insight? Definitions and Examples
- Insight Framework: Actual Consumer Belief, Benefit, and End-state
- Dos and Donts: best practices in building, writing, and validating insights
Why now?
According to advisory giant McKinsey:
Consumer beliefs and behaviors are changing fast. To keep up with—and perhaps even influence—those changes, companies must leverage deep consumer insights.
In fast-moving and highly competing markets, the ability to tap into consumer understanding better than your competitors is essential. Writing winning insights is necessary to make sense of consumers' behavior and convert it into actions. This pill summarizes 20 years of generating, documenting, validating, and testing consumer Insights. Learn how to write an insight by structuring it according to ACB, Benefit, and End-state. Knowledge pills because you need to know!