Market research can help you ground your marketing plans for next year in the latest data. Here are four trends you can expect to see in market research during 2018.
Market research plays an important role in the marketing and customer service processes. It can help you better understand your customers, develop new product ideas, and laser-focus your campaign messaging on the people who matter most. However, the field is constantly evolving, and marketers must understand the latest trends to get the best results. Here are four trends to watch in the year ahead.
- Artificial intelligence (AI)-powered market research: AI is leading the way in market research in the year to come. Algorithmic tools are conducting surveys, measuring people’s eye movements and emotional reactions as they look at ads, and much more. Based on AI tools, that information is then being incorporated for real-time improvement of campaign performance. Real-time learning and the processing of numerous variables simultaneously expands the scope of what’s possible to understand through the lens of AI-powered market research.
- Mining social media: Social media conversations remain a critical type of insight for marketers, and tools are becoming ever more sophisticated in their ability to mine social media conversations for important market research insights. New tools let you monitor conversations on an ongoing basis for a range of topics and use a combination of signals to surface potential PR crises, customer service opportunities, and conversations your brand should address.
- Mobile devices: Mobile devices continue to be front and center with market research. Agencies and platforms are finding new ways to get customers to leverage their smartphones, from conducting in-store surveys using geofencing technology to conducting video interviews on their devices. Having a mobile market research strategy in place is a critical path to understanding today’s busy, mobile-connected consumers.
- Deeper data integration: Today’s marketers are able to get more done thanks to deeper analytics integration. At any point, it’s possible to combine website analytics data, behavioral insights, emotional responses to ads and much more into a single personalized picture of the consumer. Deeper back-end integration on the analytics side allows marketers to put their market research into a broader context and understand more fully how to apply those insights to their business.
Market research allows businesses to better understand market trends, the competitive landscape, and customer needs. Emerging technologies, deeper analytical capabilities, and a plethora of marketing channels are making it easier than ever to gather these insights and information. With the launch of new techniques and platforms, 2018 promises to help marketers dive deeper into the information they need to effectively grow their businesses.