What is insight?
Insight is the ability and the act to understand and see how customers want your product and services and how they want to obtain it. This is an innovation technique and is vital to any business and their business model
Insight is more than just keeping your ears open or winding up customers by joining the queue asking for feedback, it is also about creating the opportunities to hear. Do you really know who your best customers are and why they are better than others? Do you have a good handle on your key business metrics so that your decisions are based on evidence rather than guess work? Do you know what your customers would love to buy from you if only you sold it. Intelligence used to be the preserve of bigger firms, but even without expensive tools it is not so hard to:
- analyse and identify the most profitable customers
- predict the outcome of a marketing campaign
- learn from customers before the competitors have the chance to adapt and change to their needs
Acting on insights is not about “Thinking outside the Box” see why here, but it absolutely is about taking all of those ideas buzzing around in your head, prioritising them and thenworking out how to make the right ones happen. How often have you seen something in your industry news and thought “I had that idea”, but then realised that you did nothing about it. Ideas are cheap, it is executing them that really adds the value and this calls for spending less time ‘in the business' and more time ‘on the business’ often by:
- prioritising getting things done
- getting some help by recruiting
- working with partners
Along with insight, it is also key to understand what kind of "jobs" customers may be performing with you product/services.
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Who are we?
Agileering Ltd is an Innovation and Leadership coach and training provider covering the Thames Valley. It is registered at Companies House no 8688090
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