With consumer purchase journeys becoming increasingly versatile, getting into the minds of your consumers is vital for optimizing your marketing investments.
Consumer purchase journeys are not what they used to be. And that’s not harking back nostalgically to the simplicity of the pre-online days – it could easily apply to even a few years ago. The fact is, the number of digital channels that consumers have at their fingertips is ever-increasing – and even going beyond their fingertips as voice-commerce begins to emerge. For example, 31% of recent buyers in the UK intend to use their smarthome device to track orders and delivery updates but only 7% intend to use it to actually make a purchase 1.
Couple that with the fact that when it comes to technology and durables products, the “ROPO effect” (Research Online Purchase Offline) is still going strong. In the Germany TV market, for example, over half of those who researched a TV online actually went and bought one in an offline retailer 2.
This all goes to say, as touchpoints increase so too does the versatility of purchase journeys. And with all this channel hopping to search, browse and eventually buy products, marketeers are left asking themselves where to prioritize their spend. Getting inside the minds of your consumers will give you all the answers you need.
1 GfK Consumer Insights Engine- sample of 519 recent buyers in the UK who had purchased a smarthome device between Oct.-Dec. 2019
2 (Source: GfK Consumer Insights Engine- sample of 7,993 recent buyers in Germany who had purchased a TV in 2019).
When it comes to marketing, building the right strategy requires a deep understanding of consumer journeys: from purchase triggers to which channels and brand/product touchpoints consumers use during their search and evaluation to moment of purchase and beyond. But waiting weeks for traditional ad-hoc studies to give you some behavioral insights leaves you behind the curve.
Marketing Managers and decision-makers in the tech and durable product categories need instant access to up-to-date global insights in order to make quick and reliable strategic decisions: knowing which touchpoints to target and what messaging to focus on for example. This is where the GfK Consumer Insights Engine will prove invaluable in delivering immediate answers.
As Rudyard Kipling wrote in The Elephant’s Child: “I keep six honest serving men (they taught me all I knew); Their names are What and Why and When And How And Where and Who.” Well in marketing, these six insights can also teach you all you need to know to build a winning strategy.
The what, where and when are taken care of via GfK’s robust POS insights - the GfK Consumer Insights Engine enhances these and adds the who and why. That means providing marketeers with the insights to understand consumer profiles and identify the right targets (the who) as well as insights to leverage purchase drivers and influence purchase decisions (the why). And here’s the how: by harvesting quarterly data from millions of consumers around the world.
The GfK Consumer Insights Engine combines active and passive data sources to capture consumer insights across 13 markets worldwide focusing on 18 tech and durable product categories. It survey screens approximately 500,000 consumers globally each quarter to find recent buyers in any channel, calibrates to point of sale data unique to GfK and collects over 1 million online reviews from the world’s biggest retailers. All insights are then collected into one integrated digital platform, providing trusted and actionable insights to key business needs at speed.
Imagine you’re planning a campaign for a new smart product launch. The market share targets are set – you now need to make sure that the campaign lands with the right audience and through the right channels. Where do customers get their inspiration? Which specific consumer segment should you target? What topics will resonate with them?
By logging on to the Consumer Insights Engine and setting filters to analyze the most influential consumer segments, you can flag top purchasers and know exactly who to target. Then, via the CIE’s Touchpoint Guidance page you’ll see where to focus your advertising. Armed with these insights you can then turn to the content of your campaign and find out what choice drivers are most likely to move your consumers. The outcome: a full campaign strategy based on only the most credible insights.
So whether it’s retailer partnerships, targeting and opportunity sizing, product features & messaging or touchpoint guidance, as the industry’s most comprehensive and integrated source of consumer insights, GfK’s Consumer Insights Engine will help your business answer a wide range of crucial needs. All by getting inside the mind of your consumer.