How product intelligence can benefit your customer insights team
Gain valuable consumer insights with robust product intelligence solutions and empower your customer insights team to make data-driven company decisions.
Continue reading to discover how your customer insights team can leverage product intelligence to better understand consumer needs.
What is a customer insights team?
A customer insight team (also called a consumer insights team or an internal CI team) is a cross-functional group that plays a key role in product strategy and decision-making processes. Members work together to collect, interpret and analyse various data sources to gain valuable consumer insights.
The importance of consumer insights
Valuable consumer insights provide more context about consumer behaviour, pain points and experiences. This creates a deep understanding of your target audience, including both existing and potential consumers. Product and marketing teams can leverage this knowledge to make smarter decisions. This helps enhance the consumer journey for increased satisfaction and success.
Reactive vs proactive customer insights teams
Traditionally, customer insight teams focused largely on consumer and market research in a reactive capacity. However, recent years have seen a shift towards a more proactive approach.
Modern insights professionals work to identify meaningful, actionable insights and communicate them across different teams. This helps improve collaboration and encourages a company-wide consumer-centric approach.
Refining your consumer insight strategy with product intelligence
Your consumer insights framework is the strategy you use for collecting and analysing data about your target audience. These insights drive innovation and help outline a clear vision for improving your consumers’ experience.
Below are some key ways in which you can leverage product intelligence to enhance your consumer insights research strategy and overcome common challenges related to analysis and implementation.
Democratised data
A successful consumer insight strategy involves the democratisation of data. This process ensures consumer research is easily accessible across your entire organisation. Accessible data enables different departments to consistently evaluate their actions and make informed decisions based on data-driven insights rather than assumptions.
Another key aspect of data democratisation involves standardised research. Consumer insights specialists can empower other teams to conduct basic market research. This allows for a more streamlined strategy development process and gives your consumer insights team the time to focus on more complex and specialised research.
Large-scale analysis
Large-scale analysis involves shifting the focus of your consumer and market research from individual projects towards a more collective, company-wide knowledge base. This is key for making decisions related to long-term business strategies.
Your consumer insight team often has access to years of local and global consumer insights. By interpreting this data on a larger scale, they can gain a broader view of how your product and marketing strategies are performing. This helps you optimise your decision-making processes while also saving you time and money that you may have otherwise spent on unnecessary or repetitive market research.
Benefits of a customer insights team that leverages product intelligence
Leveraging product intelligence for decision-making processes is key to unlocking business growth and gaining an edge over competitors. Here is an overview of several distinct ways in which product intelligence helps enhance your customer insights team’s effectiveness.
Adopting a customer-focused approach
A cross-functional customer insight team helps combine the left and right-brain aspects of your company. This “whole brain mindset” enables you to successfully implement a consumer-centric business approach, resulting in enhanced consumer experiences and success.
Predicting consumer trends
A well-equipped customer insights team can help your business leverage consumer insights tools to get ahead of competitors. Comprehensive consumer research involves gathering qualitative and quantitative data from multiple sources, including surveys, focus groups and more.
Our consumer insights platform provides fast access to reliable consumer data for actionable insights. Product and marketing teams can use these insights to stay ahead of and predict consumer trends. This facilitates more targeted product development and marketing strategies, providing your business with a competitive advantage in rapidly changing market environments.
Contextualising data
Contextualisation is key for unlocking the real value of your consumer and market research. Consumer insights researchers gather and interpret robust consumer data to gain actionable insights. However, you can take this process one step further.
By contextualising consumer insight, CI teams can empower various departments to gain a deeper understanding of their target audiences. This includes the varying contexts behind consumer behaviour and how it can influence overall brand strategy.
Vypr: Uncover insights for data-driven decision-making
Vypr is the world’s leading product intelligence platform that enables businesses to understand changing consumer behaviour through fast, cost-effective consumer insight.
Developing a modern, cross-functional customer insights team is key to getting the most out of your insights engine. This helps you ensure a good consumer experience for overall product and business success.
Maximise the effectiveness of your customer insights team with robust product intelligence. Try Vypr free now.