The fenestration, construction, and building products industries have faced a range of challenges in recent years, from the skills crisis to rising inflation. Kirsty Winter, General Manager of Insight Data, explores how a deep understanding of customers can help overcome such obstacles.
Many industry leaders know that understanding customers is crucial, but they struggle to put this knowledge into action. A recent McKinsey poll highlights this issue. While 84% of respondents recognise the importance of customer understanding for growth, a whopping 94% said they were frustrated with their organisation’s efforts in this regard.
This figure highlights a stark reality. Simply having lots of customer data doesn’t guarantee useful insights or provide a real grasp of customer needs. Insight Data has recognised this trend, and while businesses may have plenty of information about their customers, truly understanding them remains a mind-boggling challenge.
In today’s data-rich environment, businesses often struggle to extract valuable insights from the overwhelming amount of irrelevant information available. However, the significance of genuinely understanding your customers cannot be emphasised enough. Insight Data takes a unique approach by delving deeper than just collecting data- they provide in depth market intelligence to help businesses uncover industry trends, preferences, and consumer behaviours, allowing for more informed decision-making and strategic planning.
Understanding your customers’ preferences and competitor performance is essential for every business’s success. This crucial market research helps business leaders by minimising potential risks and errors. It also enhances understanding of the market, competitors, and customers, thereby improving sales and marketing strategies and resource allocation.
An excellent example of the power of understanding customers is evident in Insight Data’s partnership with Window Ware, a leading brand in hardware, tools, and consumables. Due to the turbulent economic climate, Window Ware put their trust in Insight Data to gain valuable market and customer research aimed at adapting their sales and operational strategies to remain competitive in the face of shifting market dynamics and evolving customer demands.
Insight Data conducted a comprehensive market research campaign, gathering both qualitative and quantitative data from hundreds of Window Ware’s customers. The insights collected from this exercise enabled Window Ware not only to understand shifting consumer trends but to identify the specific desires, requirements, and priorities of their customer base. Armed with this knowledge, Window Ware was able to customise their offerings and anticipate customer needs, maintaining a competitive edge in the market.
In a world where advanced technologies often outshine traditional research methods, Insight Data emphasises the lasting importance of truly understanding your customers. They suggest that while digital advancements bring new opportunities, the most impactful move a business can make is to prioritise customer-centricity at its core.
By prioritising customer-centricity, businesses can enhance their sales and marketing strategies, better serve their customers, and ultimately drive growth and profitability.
Let Insight Data ease the stress and help you understand your audience’s requirements better. With campaigns managed from start to finish, Insight Data can assist your business in driving growth and profitability. Contact Insight Data today on 01934 808293 or email hello@insightdata.co.uk.
