Knowledge + Understanding

Organizations invest billions of dollars on consumer information. Yet they often miss the opportunity to leverage and build upon knowledge that already resides within their four walls. While the root cause varies, lack of resources and time, insufficient synthesis of data, ensconced inputs, and failure to democratize and socialize knowledge all factor into decreased ROI. Filling knowledge gaps with new data, integration architecture, and repackaging insights for broad consumption are ways to resurrect information — generating a cumulative effect on organizational understanding and increasing bottom-line performance.

In a world where data is trying to win, consumers are often boiled down to numbers and categorized in clusters. Yet humans are the most complex neural network known today — basing their decisions on values, belief systems, and lifestyle factors. While behavioral data is highly accessible and often a go-to option for the frontline, a disconnect between the “what” and “why” of that data leads to inaccurate portrayals of consumers. While it’s difficult to move an entire organization toward empathy, carefully crafted approaches that evoke the “why” behind human behavior breed visceral understanding and empathic decision-making.

While intriguing in nature, trends can leave teams scratching their heads. It’s one thing to subscribe to trend reports; it’s another to determine their impact on your business. Capitalizing on relevant trends and recognizing when critical mass meets market-readiness means organizations avoid chasing the fad du jour. Contextualizing cultural influences, trend analysis, and predictive modeling are all ways to inform future strategies. Yet models must be sophisticated enough to capture the changing interactions among all at play. Foresight goes beyond understanding consumers’ needs, to anticipating them and giving confidence on where to place your bets.

Consistently launching market-changing innovations to drive business outcomes takes more than just great ideas. It takes a relentless focus on the melding of mindset, process, and measurement. Developing the competency of seamlessly infusing consumer needs into the innovation process is frequently the missing ingredient in gaining traction and adoption. Organizations that use an agile yet rigorous approach to identify and seize the right opportunities ultimately create competitive advantage and growth.

Consumers no longer take things at face value and certainly don’t buy into hyperbole. Many factors are at play that have them questioning brand promises. Organizations are striving more than ever to create authentic connections that stand up to skepticism and scrutiny. Strategies rooted in deep knowledge of consumer values and emotional connections not only influence product choice, but are the foundation for building reciprocal relationships between you and customers. A brand strategy positioned around meaning and company purpose further solidifies loyalty and lifetime value in this precarious and changing landscape.