Market research is an integral part of every organisation and year after year, market researching experts look for new trends that are exciting and effective. With the advancement in technology, followed by the number of services and products introduced in the market, it becomes essential for companies to know their target audience with a better perspective. They use this research to develop successful marketing or advertising campaigns that will help them increase revenue and grow in their sector in the coming years.
In the last decade, a drastic change has been observed in market research trends. And, this continues to change in 2019. Surveys are the main drivers of market research. They are the most effective way of connecting to customers. Changing market research trends mainly impact the way surveys are conducted. So, let’s look at some of the key trends of 2019 that will help your business grow and help in impacting your targeted audience.
In this fast-paced world, time has become a valuable resource. Which brings automation in the picture. Automation will dominate all industries this year and in the coming years as it helps in saving human time and decreases human error. Previously, market researchers had to collect data always for any kind of analysis. But, a majority of that has been taken care of by automation. Example, after a customer walks out of your showroom, systems automatically send them a feedback survey to know their experience with the brand. Their responses are also automatically collected by the system and analysed as per the requirement of the brand. This trend is hot in the market because of the increasing prices of getting accurate data.
Access to Real-time Data Dashboards
Technology has made man addicted to getting everything instantly. It’s not just instant coffee or instant noodles anymore, but people want everything instantly. The trend of getting instant data in real-time is also picking up. Well-developed real-time dashboards give you access to different research parameters and save time and resources. It also comes with reports that are easy to understand and can be used for multiple purposes. This trend is simplified and effective.
Understanding Customer Communication
For any type of market research, it is very important to understand how comfortable your customers are communicating with the brand. And the upcoming trend is VoC (Voice of Customers). With Siri or Alexa, customers prefer to interact with AI through voice. This data can further be obtained from the AI and companies can learn the exact words of the customers. Their needs also can be known. Brands are driven by their customers. Companies can make better strategies after understanding their customers closely. Technological advancements support this trend and it is most likely to increase in the coming years.
With internet and globalisation, getting content to customers has become a very easy task. This makes it important to push interactive and engaging content. In 2019, the internet will catch up to the television as customers will prefer to watch videos online. Live videos are also trending. Therefore, companies need to build content that will keep their customers engaged and switch to other companies.
All these trends should be kept in mind for before designing any marketing campaign. With changing trends, it is essential to make the most of the upcoming potentials that can build your business and reach greater heights.