Better consumer understanding in times of COVID-19
They need better consumer understanding to answer questions like, ‘What are my consumers likely to spend on and when?’, ‘How would they prefer to be serviced’, ‘Do they trust my brand?’, and so on.
Here are some pointers on how businesses can enable better consumer understanding in these uncertain times:Start with zeroStart with a zero-budgeting approach.
Prioritise speed over precisionIn such a dynamic landscape, today’s consumer understanding may become redundant over the next few days.
Some firms are adding analysts to drive better understanding of insights and helping support in hypothesis testing.
Amidst this uncertainty, it may be tempting for businesses to pause consumer research and wait for things to stabilise.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
The ratio of men entrepreneurs to women entrepreneurs in 2019 is 10:7.
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