Small companies can benefit just as much as big conglomerates from gaining insight into their customers and marketplaces when rolling out new ideas. Although market research sounds expensive, there are ways to achieve valuable knowledge without a huge outlay.
Using transactional data to guess customers’ motivations gives a limited backward-looking view. Brands must use social data to add personality to their insights, according to dunnhumby founder and Starcount chief data scientist Clive Humby.
Political polls have been wide of the mark in numerous elections around the world in the past 12 months, posing the question of whether surveys can be trusted any more, and if so, how brands can ensure market research results are relevant and reliable.
The growth of direct-to-consumer brands is not just about the flight to ecommerce during Covid, but also offering convincing answers to consumers’ questions.
The sportswear brand cut spend related to events such as the Oympics but “doubled down” on digital as ecommerce sales almost doubled.
We round-up the biggest news from the week including UKTV’s ambitious brand revitalisation, how Häagen-Dazs is capitalising on its momentum by doubling digital investment and your chance to vote for the Brand of the Year.
Rather than letting Covid-19 put it off its stride, UKTV is investing in a major brand repositioning project as it looks to get match fit for the post-lockdown world.