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Buyers want to drive total category growth, as this is what their targets (& usually their bonus) are based on.
So the Brands that can prove HOW they will help the buyers unlock this growth are the ones that they will naturally back (all other things being equal) - and there are only 5 ways that this can be done. This article explains what these are, what growth strategies should be considered as a result, and how brands can explain to the Buyer why they should back their brand.
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900 words, a 5-6 minute read  Why Insight?
Thriving as a business means growing your brand … and doing this faster & better than the competition requires Insight. Not just data or facts, Insight explains the ‘Why?’ behind the trends we see. By understanding the ‘Why?’, brands can better know the Consumer, and as a result create better products, or develop more targeted activation plans. However, to do this Insight first needs to be demanded & embraced by the organisation. Panasonic knew this. As a very successful electronics company, Panasonic prides itself on high quality products and therefore culturally has a very strong technical focus. However, as a global player, the company recognised that to grow even faster it is critical to understand how categories & customers differ in each market in which it plays, and to place these insights at the centre of what they do. Whenever we start a new project one of our first questions is always 'What data do we have?'
because without real insights we are often left with opinions & assumptions which can be overly optimistic or just plain wrong. In simple terms there are 3 types of data you can use to find insights about your consumer, category or brand:-
All of this data needs some investment, but it also needs a clear strategy to ensure you get the right insights at the right time to maximise your ROI and avoid making more expensive mistakes further down the line. |
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