Not enough businesses are utilizing their existing customer base to improve their offering, warns Cint

The on-going uncertainty in economies spanning the globe over the past few years has led businesses and brands to reassess the way they operate and communicate with customers. However, not enough insight is being gleaned from customers let alone acted upon to ensure these businesses remain competitive in this consistently hostile marketplace, warns Cint.

Bo Mattsson, chief executive of Cint, a global provider of smart solutions for gaining market intelligence, explains: “In continents most affected by recessionary cuts, namely Europe and North America, there has been a dramatic shift change in consumer buying habits and how businesses buy goods and services from providers. It is not uncommon nowadays for businesses to heavily negotiate on costs and expect more return on their investments. In addition, consumers and organizations expect to be marketed to in a more sophisticated way, whether with intuitive deals on everyday necessities or strategic plans targeted directly to meeting business objectives – anyway you look at it, we all expect more bang for our buck!”

Cint has seen first-hand how the economic slump has catalytically changed the way the business world operates as many of its clients have turned to its online surveys and market research tools to gain valuable insight into their customers. Bo argues that it is those that have acted upon those findings who will retain their competitive advantage going forward particularly as reports highlight more economic uncertainty. On 30 January 2012, the World Economic Outlook’s update predicted the global economy will grow by just 3.25 per cent over the course of the year, down from the 4 per cent estimate it made in September 2011.

Bo continues: “Although many brands and businesses are using market research services to gather a better picture of their customers, many aren’t. They are instead blindly reaching out to their target audiences with mechanics and approaches which they think are still current, but in many cases are outdated and not fit for purpose.  The post-recession consumer and business leader is a lot more inquisitive, savvy and expectant of results. They want to feel that the brand targeting them has taken the time to get to know their wants and needs.  In fact, we found in a recent study that almost two-thirds (62%) of respondents surveyed said they were more likely to purchase a brand’s product if they were asked their opinion.”

For further information about Cint’s suite of services including Access, Engage and Link, visit www.cint.com.

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