If knowledge is power, today’s consumers hold an unprecedented amount of it. With more access to information than ever before, they understand exactly what they want, often beyond the influence of brands. Despite the $40 billion invested in market research, many brands still miss the mark, leading to missed targets and ineffective marketing. To stay relevant, brands must evolve and embrace Digital Consumer Intelligence (DCI). This new approach combines digital, survey, social, and first-party data with AI to integrate the consumer’s voice into every crucial business decision.

In this discussion, we’ll explore what DCI is, why it emerged, and how brands can develop and implement their DCI practices.

What is Digital Consumer Intelligence?

Digital Consumer Intelligence blends various data sources with AI and data science to integrate the consumer’s voice into every vital business decision. Brandwatch has pioneered this by helping brands understand the billions of consumer voices. Traditionally, social listening was the main tool, but now a more comprehensive platform is being developed to integrate all relevant data sources.

Brands should not rely solely on social data; while it offers quick insights, combining it with other data sources allows for deeper, more nuanced consumer insights. The unprompted data from social media helps identify consumer resonances, while prompted data from surveys and other methods helps validate insights. Together, these provide a robust understanding of consumers, which is essential for making strategic decisions across the organization.

Often, valuable data lies dormant in emails, chat logs, and call transcripts. When examined properly, these sources can significantly contribute to a brand’s understanding of its consumers. By studying these diverse data sources collectively, DCI brings the consumer’s voice directly into the organization, giving them a critical role in decision-making.

Origins of Digital Consumer Intelligence

DCI is the product of three converging market challenges:

1. The Digital Data Explosion:
   The sheer volume of digital data has been growing exponentially, and businesses are only now beginning to harness its full potential. With the rise of data science, brands are starting to understand and utilize this data, propelling DCI forward.
2. The Evolution of Consumer Behavior:
   Consumers now research and make purchasing decisions independently, often influenced by online reviews and experiences rather than direct brand marketing. Brands need new methods to understand and connect with these informed consumers.
3. Direct-to-Consumer Competitive Pressure:
   The direct-to-consumer model has grown, and brands now face stiff competition from agile new entrants. Traditional market research methods must evolve, and brands must focus on connecting with their consumers to stay competitive.

Implementing a DCI Program

To create a successful DCI strategy, brands should:

1. Identify the key business questions and data sources needed to answer them.
2. Explore the available data.
3. Assess if the data is accessible, utilized fully, or trapped in silos.
4. Integrate the data sources, using both prompted and unprompted data to capture consumer thoughts and behaviors.
5. Implement a DCI solution that continuously analyzes consumer voices and informs strategic decisions.

By adopting DCI, brands can revolutionize their approach to market research, gaining a deeper, more meaningful understanding of their consumers. This approach empowers brands to make informed, consumer-centric decisions, forming the foundation of a robust company-wide strategy.

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Related guide: Choosing a Consumer Intelligence Solution | Brandwatch