Harness Predictive Modeling for Deeper Audience Insights

Audience understanding is vital for a business to thrive and research is the most effective tool to gain it.

Research is the means by which we discover the values, needs, preferences, habits, and behaviors of our audience.

There are two primary frameworks to consider what sort of research you want to use; by audience type and by research methodology.

Research by type includes your existing customers, the addressable market, or specific segments for instance.

Research methodology informs how we engage with our audience.

Interviews and focus groups are preferable for a smaller sample size, while surveys facilitate broader reach.

However, stated preferences in surveys might not accurately reflect actual behavior so caution needs to be exercised in such cases.

There’s also the option to rely on existing studies, which can be purchased or gathered from free sources online.

Weighted data, derived from verifiable behavioral data such as sales or digital footprints, is more reliable.

The ultimate tool in our toolkit is predictive modeling.

Discarding 1-1 stated preferences, it relies on observed decisions. By identifying patterns in these decisions, we can rank influencing factors and create behavioral models.

These statistical models, based on values, needs, preferences, habits, and behaviors, answers many questions when applied in the right scenarios.

It’s been a game-changer for our clients, significantly impacting the performance of their businesses when they harness its potential.

So, ask the right questions, target the right group, and let the power of predictive modeling work for you.

Remember, the deeper understanding you have of your audience, the more effectively you can meet their needs and exceed their expectations.