"COVID-19 has led to unpredictable customer behavior, including dramatic peaks and troughs in traffic and conversion rates, and we don’t know what the ‘new normal’ will be as we exit the current restrictions.
"This disruption has eroded the usefulness of standard data reports (for example, for forecasting)—but it has also created an unusual opportunity to separate the contributions of standard metrics on the one hand, and blended customer insights on the other, to measure and predict performance.
"Companies that are set up to generate insights have been able to make quicker, better, and bolder moves while reducing risk.
"My advice is to make sure you are set up to ask the right questions and test hypotheses continuously, rather than in a one-off analysis or report. For example:
- How effective is your acquisition strategy in engaging and converting your customers?
- Why do your customers fail to buy, and why do they fail to return?
- How far can your brand proposition be extended, and in which directions?"