This year has seen a dramatic shift in consumer purchasing habits, making it absolutely necessary for brands to adjust their offline and online strategies. Brand loyalty has been disrupted, with 75% of US consumers trying new stores and websites in recent months.
How can brands better understand consumer behavior and leverage accurate data to drive smarter decisions? Recently, DISQO’s VP of Consumer Insights, Carl Van Ostrand, presented with Gongos’ Sr. Analytics Translator, Lisa Speck, at IIEX North America. Together, they discussed the importance of tapping into behavioral data to capture the complete consumer journey.
The Value in Behavioral Data
Traditional methods rely solely on attitudinal survey data, and while this can provide valuable insights, it only paints a portion of the picture. Instead, passively and ethically monitoring actual behaviors, rather than asking consumers to remember and predict their actions, is key in gaining reliable feedback.
“At this point, it’s not really a choice. It is our responsibility as an industry to stop asking consumers to recall behaviors that we know they can’t articulate.” – Lisa Speck, Gongos
During the presentation, Carl and Lisa dove into a case study comparing interest in Disney+, Amazon Prime, Hulu, and Netflix. The behavioral data was collected from DISQO’s 100% opt in, first-party panel. Speaking to the data, Carl stated, “To be bulletproof, to have a really good source of data, and to treat consumers like real human beings, we collect this data at DISQO ethically and transparently. There is a clear value exchange, and we tell them how their data is being used.”
The behavioral data presented fluctuations in usage across the four streaming platforms, which helps brands identify metrics for tracking and potential causes for driving consumers towards a specific brand. While standard internal metrics can be helpful, they miss the competitive and longitudinal aspect that DISQO’s behavioral data can provide. DISQO’s behavioral capabilities present the opportunity for brands to view the complete consumer journey, before, during, and after a site visit, while also taking the competition into account.
“When you can compare internal metrics with passive metering data, and then take those same people and survey them, you can have this holistic view of brand health that includes both online and offline behaviors.” – Lisa Speck, Gongos
This session provided tons of insight for brands to improve their understanding of consumers and better cater their strategies to succeed. Here are the key takeaways from the event:
Avoid redundancies — Brands are often asking questions they already have answers to. Using behavioral data as the foundation, brands can avoid redundancies in research and work more efficiently and productively.
Gain a more accurate picture — Data accuracy directly translates into data quality. Start with a solid foundation and you’ll end with an even more accurate picture.
Get there faster — Behavioral data presents a faster way to get work done. It informs primary research right away, allowing you to conduct research on an ongoing basis and build upon it.
Achieve stronger actionability — Brands can make brand trackers reflect real consumer behaviors. Layering attitudinal data with behavioral data is an extremely powerful method to achieving this.
“We believe the future of our industry demands a behavioral-first mindset. If we start with behavioral data as our foundation, that’s going to reveal the “what” people are doing. Then, we can go ahead and marry that with primary data to understand the reasons behind it, ultimately getting to better insights and making better decisions.” – Lisa Speck, Gongos
About IIEX North America
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