COGNITIVE MARKETING ANALYSIS
Marketing has become more and more data-driven, and analysis has become a part of almost every organization looking to increase ROI, re-brand to meet consumer standards, and market correctly to gain customers.
When we speak of “cognitive” we are relating to the mental processes of perception, of memory, of judgment, and reasoning – all of which are the details within the consumer purchase funnel that define drive. It is these very aspects of cognition that drive consumers to decide on what to purchase. They are the glue between consumer and brand. They create your customer.
Regardless of how data-driven marketing has become, we are still falling short of knowing why consumers make their choices. If we use Millennials as an example, we think they are not brand loyal, yet the true meaning of brand loyalty differs for Millennials altogether. And so the definitions we read and campaigns we create usually fall short of the truth, and we miss our targets.
This is where the cognitive analysis comes in. The purpose is to create the right campaign. You need to reach the right audience. Consumers are more complicated than ever, and knowing those complicated points helps you create the right campaigns, and reach the right audience. And of course, have greater revenue, increase ROI, and with the traction you gain reach that top spot as number 1 brand for soaps, shampoos, technology innovations… anything and everything.
With great intent we are trying to learn more and more about our customers and consumers as a whole, but research is not meant to be solely quantitative. Qualitative aspects of consumers’ actions drive today’s markets more and more. So do we really want to only consider how many bars of soap sold last year, and which brand held the top spot? Isn’t it better to know why consumers purchased the brand, and wouldn’t that help us predict whether the brand will remain at the top spot basing our campaigns on what truly matters? So what matters most right now? Not only numbers!