At the Root of Product and Brand Success: Consumer Insights on Demand
Every year, CES is like a microcosm of the global economy. There before you are the most innovative products, from the most innovative brands, making their first appearance on the world stage. And as you look around at this impressive display of cutting-edge technology, you can’t help but wonder which products will actually take center stage and become stars in the months to come.
Clearly, there are a number of factors that combine to guarantee product success. One, of course, is a solid foundation in market-leading technology, ranging from cloud infrastructure to SaaS solutions. These days, advancements piggyback on one another at a mind-bending pace, with brands constantly struggling to stay on top of the tech heap. And effective, targeted marketing certainly plays a key role in product and brand success.
But one factor that sits at the root of success in the constantly shifting sands of the marketplace is consumer insights. Product development and marketing teams need to know that they are answering real and articulated needs in the marketplace, not just shooting in the dark at poorly defined targets. A steady flow of consumer insights throughout development and marketing processes serves as a well-defined roadmap, allowing teams to course-correct in time to make the product and marketing refinements that will ensure success.
Thanks to advanced technologies and research expertise coming together—teams now have access to the consumer insights they need throughout the brand-development process. And market research expertise is being seamlessly integrated, so product development and marketing teams now have access to on-demand insights throughout a development process.
That means that, before taking a step that might take a project in the wrong direction—wasting precious time and money—teams can quickly, easily and cost-effectively gauge reception in the marketplace. And they can now have the information they need on demand, making it possible to stay constantly in-tune with changing sentiments—whether their product is B2B or B2C. For example, Toluna’s end-to-end platform, TolunaInsights, gives teams the power they need to gather and analyze their most important customers’ sentiments on an ongoing basis, constantly informing product-development processes.
So, as you look around at CES and marvel at the innovative products on display, it should be clear that only a small percentage will make it to the top of the heap in their market segments. And if you’re taking bets, you can be sure that it’s the brands that have a solid foundation in consumer insights that will be clear winners. Increasingly, consumer insights gathering and analysis has become an integral part of the tech product development cycle. Consumer insights has earned a seat at the tech table.