Lifestyle changes and improvements in technology have drastically transformed content production, demand, and consumption for companies offering media services.
The global media industry is in a transformational phase as both old and new business models continue to co-exist. Factors such as globalization, digitization, and interactivity have drastically remodeled the global media landscape over the last decade. Analytics and cloud computing (SMAC), business intelligence, and social media along with the next gen-technology and globalization are now the next wave of change for the media industry.
In the face of digitization, leading media companies are facing several new challenges. Also, market disruptors are constantly changing the way content is created, distributed, and utilized. With the delivery models changing from free-to-air to subscription-based, the media industry is in a transformational phase and this is expected to bring in new challenges for media companies.
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The Business Challenge
- The Client: A leading media industry player
A leading media services provider wanted to assess their brand health by employing both quantitative and qualitative techniques with the guidance of a skilled customer intelligence expert. To do so, the media services provider approached Infiniti Research to help them conduct a detailed customer intelligence assessment. The client was looking at leveraging our expertise in customer intelligence to gauge brand affinity and determine their future growth prospects.
How Can Customer Intelligence Help Media Industry Players?
In today’s modern customer-centric business world, success is no longer about understanding the needs of your customers. It is about predicting customer needs and actions even before they occur. This might seem challenging for firms in the media industry and, hence, customer intelligence is here to help those suffering to tackle this overwhelming challenge.
For companies to succeed in an increasingly competitive market such as the media industry, they should be able to manage all aspects of an enterprise. This necessitates them to look beyond market surveys and employ techniques to gain detailed insights on brand health.
Our customer intelligence solutions empower media industry clients to assess the impact of their solutions. It just doesn’t just deal with improving brand health, but also enables media services firms to leverage intelligence to gain a competitive edge in the market.
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Client’s Journey
With the help of our customer intelligence solutions, the media industry client was able to implement a holistic and multi-faceted assessment of their brand. It also offered detailed insights into customer experiences, awareness of brand buzz, and get glimpses into the attitudes of customers. Leveraging customer intelligence enabled them to gain in-depth insights into the brand health and customer experiences that had profound effects on their final decisions.
The customer intelligence experts at Infiniti conducted detailed research to help the media industry player understand and assess their brand value through a brand assessment study. The adopted approach included primary and secondary research methodologies coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the media industry.
Solution Benefits and the Business Impact
The solution offered by our customer intelligence experts helped the media industry client to identify key metrics affecting brand value. The solutions helped them uncover new market segments by providing insights into customer preferences and brand expectations. Subsequently, it also enabled them to achieve and sustain brand growth by tapping into the potential customer segments.
Media Industry Overview
The complicated landscape in today’s media services market poses several challenges for players looking to establish themselves. Regardless of such challenges, being a well-established, strong brand has never been more important. A powerful brand that is distinctive and captures customer attention is the key to enhancing brand reach, without which the battle can only be fought on cost-structures. Strong brands capture a majority of the market share and loyalty while commanding higher premiums.
Therefore, achieving sustainable brand growth is all about leveraging customer intelligence to tap into customer needs and drive demand by connecting with your customers via the right channels. But to be a market leader, it is essential to understand how your brand affects purchase intent and sales performance. Our customer intelligence experts help you create this link by correlating brand equity with customer loyalty and market share. What’s even more interesting is that our experts go a step ahead to help you understand the tactics that will cultivate stronger brand equity to drive revenue growth.
A must-read case study for strategy specialists and decision-makers looking to develop an understanding of the media industry trends. Contact us for more information.
