Consumer Intelligence

Consumer intelligence (CI), also known as customer intelligence, is part of the business intelligence. It describes the process of gathering, analyzing, and interpreting information about customers. This information is used to understand customer behaviors, preferences, and activities. The goal of consumer intelligence is to improve customer relationships and support better decision making within a business. By collecting and analyzing data about customers, companies can gain insights that can help them improve their products, services and marketing strategies.

A Consumer Intelligence Platform (CIP) is an efficient audience data management software that tracks, collects, identifies, and analyzes multiple data sources on the web and social media, linking billions of data points to uncover insights that lead to better business decisions. A CIP utilizes Artificial Intelligence (AI) and machine learning to analyze sources of structured and unstructured consumer intelligence data across industries to give answers and solutions to your business by accessing numerous data (active or passive data) generated by the Internet and social media users.

Consumer intelligence allows brands to gain a deeper understanding of their audiences and customers by analyzing detailed data from various sources in the digital environment. In today’s marketplace, price is not the only factor that influences purchasing decisions. Customers are increasingly considering the relevance of a brand, its image, and their overall experience with it. Consumers interact with many brands in the digital environment, where they generate data through their actions. Over the past five years, social media users have grown by 68.1%, and this trend is expected to continue, with an estimated average growth rate of 5% by 2027 (Oberlo, 2022). Consumer Intelligence advantages include:

1. Quantification and qualification of essential data
2. Provides valuable information that can improve the customer experience
3. Find sources of inspiration for new products, features, and business operations optimization, such as delivery, orders, and so much more.
4. Develop a more detailed customer segmentation
5. Target niche markets more effectively
6. Improve customer communications processes or journeys

A company can leverage the power of a Consumer Intelligence Platform to maintain its competitiveness and succeed in today’s rapidly changing environment, where consumers hold significant influence.

Consumer Intelligence benefits can include:

• A better understanding of consumers and customers and what makes a high-value customer
• Improvement of their products and services
• Data-driven insights that contribute to effective business decisions, such as for products, services, campaigns, or even as a preemptive measure for crisis
• Improvement of cross-selling or up-selling digital marketing strategies from further customer segmentation
• Better knowledge of how to engage with at-risk customers

Athenian Brewery used our Consumer Intelligence platform to investigate the root cause of a crisis that arose from a marketing campaign. By analyzing the data, the company was able to gain valuable insights and a clearer understanding of its customers’ behavior in the market.

Additionally, a Consumer Intelligence platform can be used to conduct market research to identify influencers who are well-suited to promoting a company’s products or services to a specific target customer group on different social media or content creation platforms.

A marketing strategy that incorporates data from a Consumer Intelligence Platform can help a company make decisions that will lead to growth and increased sales. For example, it can help the company understand why customers are choosing a competitor’s product over theirs, or what topics are most relevant to customers on different platforms. By incorporating this information into its marketing strategy, a company can create more effective campaigns and strategies that better meet the needs and wants of its customers. A Consumer Intelligence-based marketing strategy can also aid a business in being more data-driven and thus more business intelligent. It can help the company to understand more about its customers and markets and make more informed decisions.

More specifically a CIP can help:

• Improve marketing plans
• Inspire new products or improvements just by listening to your consumers
• Target new market niches
• Improve Consumer knowledge and segmentation over media. You don’t expect to find the same audience on Reddit and Facebook, right?
• Optimize budget spend over Media Mixes by identifying marketing platforms that will target each customer segment efficiently
• Enhance corporate communication processes and enhance advertising that speaks to the customers
• Provide flexibility to meet all the new needs of consumers

Consumer Insights and Consumer Intelligence work together, but they have distinct definitions.

Consumer Insights help understand the reasons and motivations behind customer behavior and can lead to actionable results.

Consumer Intelligence, on the other hand, answers questions about how, what and where customer behavior is taking place, using data collected from customers and audiences. In simpler terms, Consumer Intelligence is the process of collecting and analyzing data that leads to the creation of insights, which in turn can drive results.

Market research is a process that involves collecting data through surveys, polls, and focus groups to gain insight into customer preferences, specifically related to your company, products, and strategies. In recent years, the market has undergone significant changes and is continuing to evolve at a rapid pace, making it difficult for traditional market research methods to keep up with the changes in consumer behavior. Additionally, word of mouth has moved online, now referred to as electronic word of mouth (eWOM), which has further complicated the market research process.

Market research and Consumer Intelligence are closely related, but they have distinct goals and methods. Market research focuses on gathering data and insights about specific products, companies, and strategies, while Consumer Intelligence is more comprehensive, and considers the entire customer journey as well as the broader market landscape. Consumer Intelligence incorporates AI technology and digital landscape analysis to uncover complex and nuanced insights about customers. As consumers interact with hundreds of brands every day, this type of intelligence can deliver data in real-time and provide a deeper understanding of the market and consumers. Consumer Intelligence, when performed correctly, combines both the human and AI elements, to provide a holistic analysis, which is known as Consumer and Market Intelligence.

Palowise is a leading social intelligence platform that brings added value through the Consumer Intelligence capabilities that companies need to scale , and here’s why:

• Palowise has a user-friendly interface that makes it easy for users to access and analyze data.
• Palowise offers a variety of data sources, including social media, surveys, and other market research tools, giving you a comprehensive view of your target audience.
• Palowise uses advanced analytics and machine learning techniques to provide actionable insights and predictions.
• Palowise’s team of experts are available to help you with data interpretation and strategy development.
• Palowise’s platform is highly customizable, allowing you to create reports and dashboards that align with your specific business needs.
• Palowise’s pricing plans are flexible, and their customer support is always available to assist you.

So, if you want to stay ahead of the game in the consumer intelligence space, Palowise is the way to go. We won’t let you down!

Palowise’s services and pricing plans are tailored to meet the unique needs of each individual brand and industry.

The platform’s features and Consumer Intelligence capabilities are evaluated in conjunction with the specific needs of the business to develop a pricing plan that is tailored to each individual client. This means that each client is provided with a customized plan that is optimized for their business, industry, and budget.

Your brand can truly thrive with the help of all the services offered by Palowise. These services are designed to give you a comprehensive understanding of your target audience and the market, so you can make informed decisions and stay ahead of the competition.

Here are some examples of the services that Palowise offers that your brand can benefit from:

• Social Intelligence
• Social Listening
• Trend Analysis
• Sentiment Analysis
• Media Monitoring
• Competition Analysis
• Digital Footprint
• Reputation Management
• Influencer Analytics
• Social Analytics
• Political Analysis
• Sponsorship Evaluation
• Brand Equity Measurement
• PR Crisis
• Mamalytics (mom content analytics)
• Tracker
• Campaign Evaluation