The Known Knowns

To have a fairer than average chance of ‘winning’, all businesses, regardless of sector or product, need to know the answers to certain questions.

As an insight professional servicing internal clients, knowing what these questions are likely to be is the first stage to becoming an effective resource.

Pre-empting these questions, and putting strategies in place to answer them, can move you up the food-chain from reactive resource to value-creator.

Here are the questions we believe you should be geared up to answer, through primary or secondary research, and using internal as well as external data.

Any glaring omissions, let us know in the comments.

Need help building any of these measures, drop us a line:

Email: insights@insight-engineers.com

 

What you need to know What measures help answer these questions
How is my market performing and trending? Internal KPI’s, industry data, trend and forecasting data
Do we have presence in the marketplace? Brand Tracking – awareness, familiarity, relevance, distinctiveness/difference
How are we performing in the market (against our targets and against the competition? Internal KPI’s, competitor analysis, pricing studies
Who are our customers? Profiling and segmentation
What products and services do they have, and how much/often do they use them? Market size and share, consumption and spend data
What products and services would they like? Purchase intent/ proposition development
Why and how do people become our customers? The buying journey from need to consideration to purchase
Why and how do people leave us for our competitors, or leave the market entirely? Switching behaviour
How much will people pay for our products and services? Pricing and VFM metrics
What is our customer experience? Customer satisfaction, advocacy, event driven NPS, cross-sell, up-sell, mystery shopping
How do people react to our messaging? Advertising tracking – communication, advertising, sponsorship, PR, digital, social
What do people think of us? Brand tracking/ NPS, social listening
How effective and efficient is our media buying strategy? Ad tracking, marketing effectiveness vehicles, volumetrics, long and short term brand equity