What drives them? Is it fear or love? Example: I am afraid of looking stupid (fear). I don’t want to leave money on the table (fear). My family needs protection (love). This is the most important pool as all insights should come from emotional drivers.
Here is a good place to discuss customer feedback methods and other ways to gather research… How does the site work? What do people like? What do they dislike? Who is visiting? Are the right people visiting? What are our technological capabilities? What is missing? These insights will help us improve site functionality and drive the sales process.
Gather the research. Do we have enough to tell a story? What do we need to design? How much does it cost? For example: Do our Customer IDI and Segmentation studies tell us enough about our consumers? Can we identify the emotional drivers? The NAR 2011 study and Real Estate Outlook tells us who is in the home buying/selling market, but does it help us identify market forces. How can we paint a better picture of who is winning the market and why? How can we see the way our consumers interact with the site. Do we need to design a survey for our current consumers to find out?
For instance, an observation on site functionality will tell us, “The site is too cluttered.” An insight from this could tell us about an emotional driver, “I am afraid of looking stupid.” A strategic recommendation would be to streamline all information to make it easier for our consumers to find the answers they need. A benefit of hiring a real estate agent is that it alleviates all of those concerns. How can we be more than just a low-cost alternative?
Painting an Insights Picture
“Painting an Insights Picture” Written and designed by Michael Evanchan
The following is a framework for attacking business problems by identifying the right questions, transforming into useful information, and translating into actionable insights. Now let’s paint a picture...2
Action Steps 1) Identify the problemQuestions, Questions, Questions! Defining the businessproblem means asking the right questions. Filter into 3 insight pools: Emotional, Market, Functional. 2) Gather Information Data, Data, Data! Our well defined business problem points us towards the right data to answer our questions. Now where is the story? Find the feeling. 3) Find the Insight Ouch! Insights are painful! The data has given us an insight. Now we can provide content, creative, and marketing with a strategic recommendation.3
Identify the problem Emotional Drivers Understanding our consumer Getting to know what motivates our target audience. Are they driven by fear or desire? Why? Identifying emotional drivers is the most important step in generating insights.4
Identify the problem Market Insights Understanding the landscape Getting to know the lay of the land. Identify your competition, their positioning, who is winning and why.5
Identify the problem Functional Insights Understanding our product Getting to know how our target audience interacts with the product or brand. Identifying who is using, what they like, what they dislike, what is missing, and (most importantly) why they need it.6
Gather information Now that we’ve hunted for the right questions, it’s time to gather the right information. Design your research with the goal of answering a specific insight. Dig into the data leaving no stone unturned. Discover the right story based on what the information gives you. Data is useless unless you can see the story. Our audience makes decisions based on feeling (fears or desires), not fact. Find the feeling.7
Find the insight If asking the right questions led us toward the right story in the right data… right now the light should be going off…Insight! Insights are painful truths about our consumer’s motivations (fears or desires) that are actionable by the brand. Insights are not observations. They help us provide a go-to-market strategy for content, creative, and product development.8
…to reach our goals! This framework provides a system and structure for attacking business problems. Discipline within this framework leads to actionable insights. By understanding insights, we can better position your brand, improve site interaction, and drive conversions throughout the sales process. Our portrait of product, market, and consumer insights will empower us with recommendations to drive revenue and reach goals! The End10