The trouble is we get complacent where we are. We tend to believe our highs will continue or our lows will prevail. In an ever-changing market scenario this kind of myopic view can lead to disastrous consequences.
Keeping an eye out and enhancing our strategies to grow with change is every marketer’s aspiration.
Market Research enables you in making changes that are good for your organization by adapting to different trends in the industry today
Your Eyes are the Key
Eyes are the gateway to knowledge about how people gather information and what influences their actions and decisions. Eye Tracking technology allows us to gather an unrivaled amount of insight into the human mind. Eye tracking is the process of measuring eye movements to determine where a person is looking, what they are looking at, and for how long their gaze is in a particular spot. Because our eyes are one of the primary sensory organs we use for decision making, learning eye tracking is commonly used by researchers and businesses looking to study human behavior because it’s the only way to accurately and objectively measure and understand visual attention.
Everything is AI
“Artificial intelligence enables you to become a more human business.”
Artificial Intelligence is quickly becoming one of the most important technologies in the market research industry, when it comes to integration of research tools and data. Companies spend so much time researching that they forget about the reason they started collecting data in the first place: the customer. With artificial intelligence (AI) becoming more prominent in market research, industry professionals could be taking strides toward more efficient, more accurate and lower-priced data collection. While these are internal benefits, anything that benefits you benefits those who use your services. AI can produce accurate data simply because it reduces the chances of human bias. In a focus group, information is collected by interacting with people. Think about all the time that is spent writing surveys, conducting in-depth interviews, holding focus groups and generating reports. Now imagine cutting that time in half, or even less. This is what AI is striving toward: saving time.
Let’s Automate
More Automation improves the accuracy of research, speeds up the collection of data and can save brands money. It also makes ad testing more intuitive and should mean human researchers can spend more time analysing the results to produce the actionable insight that brands crave.
The face of your brand: Your Website
In most of the cases websites and Social media accounts of the companies are main source of communication. Testing of user experience will become more important for competitive companies whether they sell products or software. Redesign of websites, testing of their content as well as analysis of customers interaction with it all these and other numerous details are crucial for your website in order to make it stand out and attract customers.
By constantly improving the user experience of your website, you will be able to increase your chances of catching and retaining customers attention and making them buy your product and service.
The era of Big Data
Data visualization in market research often takes the form of a data dashboard – a one-page “simple” solution for clients to actively explore the data in a way that is visual and interactive but doesn’t require any special training. When interactive controls are enabled, a client can click and filter different aspects to explore the data further, especially when there is copious amounts of data to comb through to arrive at a key decision.
Emotional Triggers
Emotions and thoughts are so interconnected, there may be times when our emotions drive our thinking and vice versa. Emotions are now increasingly gaining ground and being taken into account in analysis and planning. Strategies that take into account consumer behaviour and brand experience are based on customer perception, guided primarily by emotion.
The analysis of emotions remains the key to accurate insights and should be increasingly used and considered in planning and developments of studies in market research.
Verace is a market research agency headquartered in Bangalore. It was established in 2007 with a clear idea to deliver superior consumer insights which will be effectively used to garner extra market share and also improve the market position.