For many of us, the new year is the perfect opportunity to start with new goals and aspirations both on a personal and professional level. For businesses, it is a highly valuable time to plan and map out the upcoming year. It also presents the perfect opportunity to reflect on your brand’s performance over the past twelve months by investing in customer research and gaining insights into your brand from the people who actually experience it. After all, insights are integral to staying relevant and competitive in the current market.
Many of us may want to forget 2020, but the world has undeniably been changed by its events. Last year was highlighted by the global pandemic which fundamentally changed (and continues changing) the way we live. From working from home to living most of our lives online, how businesses operate and communicate has been significantly impacted. These changes will likely continue to evolve as the world adapts to the new normal.
While this seemingly perpetual state of volatility is unsettling for many, it presents itself as an opportunity for brands to truly innovate. As it stands, consumers are adapting to the new world order that has become 2020’s legacy. These adjustments mean that your customers’ needs, behaviours, and concerns have evolved and changed. As such, your business needs insights into these new changes in order to effectively respond to them.
By carrying out insights research, you will be able to uncover your customers’ pain points, get a better understanding of their affinity to your brand, and how your they feel about your competitors. You will also be able to discover areas in which you have excelled and areas where you could improve. These insights can then pave the way for you to evolve, change and create new strategies to position yourself as a proactive partner to your clients, not just a product/service provider. Additionally, these insights may present opportunities for innovation that aligns with your customer’s changed behaviours and attitudes.
So, instead of basing your decisions on assumptions and previous beliefs that may no longer be true, be proactive and gather real-time insights to act upon. This will offer your brand a significant competitive advantage as you stay ahead of the curve.
As always, we recommend using a third-party researcher to carry out your research program. This will help clients feel more comfortable talking about your brand and encourage more candid responses.
For more information about the Fearless Insights Research program click here.