What is an insight in market research?

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Through insights, it is possible to understand the thought processes and motivations driving purchase actions. Today, we will discuss how to create an insight in market research and how it holds the power to establish a strong connection between a brand and its customers.

Definition of an Insight in Market Research

An insight is the result of perceptive observation of human behavior to view consumers from a new perspective. At We are testers, we define ourselves as a market research tool that provides you with real-time insights to enhance customer understanding. In other words, we employ various methodologies to comprehend both the expressed and latent needs of customers, identify consumption patterns, and effectively connect with customers.

What Is an Insight in Market Research?

To obtain insights, it is important to research the needs, preferences, expectations, and consumption habits of consumers. How can we gather this information? There are multiple tools to generate insights from market studies: surveys and interviews, various communication channels, proprietary databases, or simply putting oneself in the consumer’s shoes.

Surveys and Interviews

Understanding if your business idea meets customer expectations is important. One way to discover what customers expect from your business and why they hold a particular stance is by conducting an online market study with our tools, which provide you with information and guidance for making strategic and immediate decisions, executing the most suitable actions and campaigns based on the opinions of thousands of consumers.

Surveys and interviews can help determine if your product aligns with the market and fulfills various existing needs.

Communication Channels

Another way to understand what potential customers think and expect from your business is by collecting and evaluating information received through communication channels with active listening. Opinions received via channels such as social media, phone calls, and email reflect the sentiments of your target audience toward your brand.

Proprietary Databases

Once again, our own resources can be highly beneficial for our study. Analyzing proprietary databases is a direct way to discover the customer behavior pattern and to understand their preferences and consumption habits, as well as their level of satisfaction with the services provided. A tool that facilitates this process of collecting and analyzing customer or employee feedback is WAT Corporate, our tool for conducting customized market studies with your database or CRM.

Putting Yourself in the Consumer’s Shoes

Lastly, it is important to have empathy for the consumer and consider their preferences, needs, expectations, and behaviors. The next step is to have tools and technology that simplify this process and have the capability to place the consumer at the center of decision-making.

Insight

Do you want to conduct a market study and don’t know where to start? Are you looking to understand the expressed and latent needs of your potential customers? Do you want to initiate a Customer Centric strategy that guides your business decisions? Contact us at info@wearetesters.com or through our contact form, and we will assist you in achieving your goals.

Update date 22 December, 2023

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