While an empty mind is the devil’s workshop, a clogged mind is often Aergia’s (God of Laziness) adobe.
Today’s consumers are bombarded with so much information that deciding takes up a lot of time.
Want to buy toothpaste? Your neighbourhood store sells ten brands of toothpaste.
You like ABC’s toothpaste? They have twenty types of toothpaste.
You want ABC’s 123 toothpaste? It comes in five different sizes.
Truth is, while consumers might be familiar with your brand and what it offers, being suffocated among millions of other products in the market, they wouldn’t know all your products in detail and why you are the best in what you do.
So even though you spend a billion bucks on your cash cow and star products, the question marks and dogs fail to prosper in the market because of dysfunctional information, which obstructs your consumers from being wholly aware of the products, offers and benefits.
By combining Sensemaking and tech, retail companies can significantly meet this gap.
Sensemaking is an approach that helps buyers better understand the brand by assisting them in understanding the seller’s information in a more structured and fruitful manner.
This, in turn, helps in smoothening the buying process and making faster purchase decisions.
When combined with retail intelligence, the approach of Sensemaking can help you understand which markets prefer which products more. It helps you to plan your promotions and brand awareness campaigns accordingly.
The technology empowers you to capture information from your prospective customers and analyze the gap between what you are trying to or want to inform your buyers and what they are perceiving.
A classic example is Tata Nano which struggled to win the market in its initial years as the product was packaged as the “world’s cheapest car”.
In India, having a car is a symbol of a better lifestyle.
So it was only later when the car was promoted as “a mobility solution” or “a smart city car”, that Indian consumers accepted it.
Examples like this abound where companies spent billions positioning their offers and products, but consumers perceived them differently.
Another advantage of merging Sensemaking and tech is to create a structural information environment. In such an environment, the buyers’ journey and the information that they get from multiple selling touchpoints are the same, thereby providing a seamless shopping experience.
This way, when your customer doesn’t find what they need in one store, they can be given the right information that directs them toward the next store or online channels, where they can complete their purchase.
To sum up, applying Sensemaking with tech enables you to win your customers’ confidence, by giving them credible and useful information at the right time, every time.
So, do you think your consumers are clear about what you are saying? Talk to our experts to discover how retail intelligence can help you understand your consumers better.
Drop a mail at email@example.com to schedule a discussion at your convenience.