Gain a holistic understanding of consumers with CRM data and panel audience insights

Gain a holistic understanding of consumers with CRM data and panel audience insights
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Know the difference between your CRM audience and a panel audience—and why you should tap into both for comprehensive insights

When it comes to market research, leveraging the right audience is essential for gaining valuable insights into consumer behavior and preferences. There are a lot of different types of audiences out there though—so which should you use during your research? You could tap into your own customer relationship management (CRM) system or use a third-party consumer panel. Each approach has its own advantages and considerations—but ultimately, they work best when used together for a well-rounded, clear picture of consumer behavior. In this blog, we'll dive into the key differences between these two methods, when to use each, and why you should consider using both in your next research project.

Using your own CRM: Tailored insights and data ownership

One of the main advantages of using your own CRM system is the complete ownership and control you have over your customer data. When you want to run research, you can use data specific to your existing customers and any interactions they’ve already had with your brand, including any purchase history or preferences they have for your brand. Plus, your CRM already has a wealth of customer behavior data, which you can use to compare to the results from your survey to identify any trends. 

With this personalized data, you can also tailor your market research efforts and campaigns to specific customer segments, leading to more effective and targeted marketing strategies.

Consumer panels: broader perspectives and scalability

On the other hand, a consumer panel, like Suzy Audiences, offers access to a diverse range of audience data beyond your existing customers. When you’re looking to explore new markets or expand your customer base, this can be particularly useful. 

Consumer panels typically provide a larger dataset than your CRM, making it suitable for larger-scale market research initiatives or when you need to analyze trends across a wider demographic. Additionally, panels often aggregate data from various sources and industries, offering insights into broader consumer trends and behaviors that might not be apparent from your CRM alone. This cross-industry perspective can help you identify new opportunities and stay ahead of evolving market trends.

Finding the right balance

Ultimately, the choice between using your own CRM or audience exchange depends on your research objectives, study scope, and available resources. To achieve comprehensive insights, you’ll ultimately be looking for a combination of both approaches to provide a well-rounded perspective on market trends and consumer behavior. By leveraging the personalized insights from your CRM and incorporating the broader perspectives offered by an audience panel, you can unlock a comprehensive understanding of your target audience and make data-driven decisions that drive success.

For example, you could explore how your customers behaved and shopped during your last sale, including what discounts drove the most conversion or what creative resonated the most. By surveying your CRM, you could learn if your new creative for a major shopping season, like Black Friday, will motivate them to try your products this year.

But it’s still important to understand consumer behavior on a large scale, so it’s also worth running research with a panel audience for the same creative. This data can let you know how you might perform against competitors, and if you might be able to bring in some new customers this year. 

Or you could run a brand awareness campaign on Suzy to gauge consumer attitudes toward your brand. Then, you could follow up with a brand loyalty campaign using your CRM data, and bring the data points together on Suzy to understand general sentiment.

The Suzy Difference

Suzy stands out from the crowd by providing a seamless and powerful experience. With  Public Link, available through the Suzy platform,  you can effortlessly create custom surveys tailored to your specific needs and distribute them to your proprietary audience, including your CRM database. Suzy's data-variable appending feature ensures that you collect rich and meaningful insights that drive actionable results quickly and easily.

But that's not all. In addition to the valuable data gathered through Public Link, you also gain access to broader insights from Suzy Audience. This extensive dataset offers a holistic view of consumer behaviors, preferences, and trends across industries, giving you a competitive edge in understanding market dynamics.

To top it all off, Data Explorer, an advanced analytics tool allows you to dive deep into your research findings. With Data Explorer, you can analyze and visualize your data effortlessly, uncovering hidden patterns and actionable insights that guide your business decisions.

Conclusion: Utilizing Data for Informed Market Research

In the dynamic world of market research, accessing and leveraging data is paramount for driving business growth. Using your own CRM system offers tailored insights,  while Suzy Audiences provides broader perspectives, scalability, and cross-industry insights. The key lies in finding the right balance between these approaches to suit your research goals. At Suzy, we understand the importance of combining technology and human expertise to deliver exceptional consumer research services. Whether you're utilizing your CRM or exploring Suzy Audiences, we're here to support you in unlocking valuable insights and making informed decisions that propel your business forward.

Want to learn more about Public Link? Book a demo with our team today to see how it works and how you can tap into the power of your CRM audience and our high-quality panel here at Suzy.