In this age of relevance, brands need to have an ongoing finger on the pulse of what consumers think, feel and do. As a result, many brands are investing actively in becoming more ‘consumer-centric’.
Yet consumer centricity, or ‘putting the consumer at the core of your business’, often remains a hollow concept. If only there was a better way to support internal stakeholders to act more consumer-centric within their specific role, organization-wide…
At InSites Consulting, we empower marketing and consumer insight professionals to act more consumer-centric within their specific role, organization-wide. We created a full learning program with four modules: (1) we inspire professionals to act more consumer-centric, (2) we train them to observe consumers via connects, (3) we teach them how to transform consumer observations into insights, and to then (4) activate these insights by translating them into product/ service ideas and concepts, and by changing actual behavior.
In this first in a series of miniblogs around our new Consumer Centricity Academy, we zoom in on the Inspire module.
This module is about inspiring stakeholders, outlining in-depth why consumer centricity and being insight-led is vital, and how insights can fuel businesses.
The first chapter in this module is the foundation point of our Consumer Centricity Academy. All good stories need a beginning, and ours is rooted in the fact that today’s business and customer conditions are putting brands more and more under pressure.
Why do businesses need to be more insight-led/relevant now than 10 years ago? We are operating in a radically different world – where purpose, personalization, copy/paste and reduced brand loyalty are the norm. The proof? According to a report by McKinsey, the average lifespan of a Standard and Poor’s 500 (S&P 500) company was 61 years in 1958. Today, it is less than 18 years. McKinsey believes that in 2027, 75% of the companies currently in the S&P 500 will have disappeared. I bet that if the same study is repeated after the current corona crisis, the lifespan average will be even shorter.
The Copernican Revolution in the field of astronomy started with Polish astronomer Nicolas Copernicus articulating that the sun is the center of our universe rather than the earth. A similar revolution is happening now, with consumers versus brands.
In Module 1, we will draw a distinction between brand-centric and consumer-centric, by introducing a model (and examples) that shows why you need to depart from classic brand or product touchpoints and zoom out right through to life needs.
You will discover how Abercrombie & Fitch dropped the ball, what the consumer insight is behind Madonna, and how the CEO of an international lingerie company literally gave all its male employees breasts for a day. Next to that, this module contains optional chapters where we draw on the experience of our industry thought leaders, with topics ranging from branding, CX and innovation to NextGen, sustainability and consumer trends.
Our CEO (and Academy Professor) Kristof de Wulf explains more about the treats in store for you in our Module 1 Classroom:
This blogpost is part of a miniseries on the 4 modules of our Consumer Centricity Academy.
Check out Parts 2 – Observe, 3 – Insights and 4 – Activate.
Ready to start your learning journey?
Visit our Consumer Centricity Academy!
Written by Tom De Ruyck
To become genuinely customer-centric, organizations must realize the need to understand their customers as humans and help them achieve what they aspire. Read on to discover what this means for brands.
This bookzine summarizes the content of three pieces that deepdive into specific aspects of online insight communities.
Written by Kurt Thompson / Scott Lee
Amid the global pandemic, HSBC Indonesia wanted to better understand how they could stay relevant and achieve growth. We helped the bank achieve its objectives through an online community and Consumer Connects.