Five things you need to know about market research today

New ways brands can futureproof their business by leveraging connected data

As the consumer landscape changes, advances in technology are offering new ways to enhance how customers can find, interact, and purchase the products and services they desire.  The same applies to market research and the need to be smarter in connecting data to drive richer insights for marketers.

1. Engaging via the platforms consumers are already on

Social media apps are used by three out of four people, with the highest percentage recorded in Brazil and Mainland China (83% and 81% respectively). So, what better way to engage these already-active respondents than through social media platforms where they already are?

For example, through WeChat, Mainland China’s most popular social media, messaging, and mobile payment app (recently reported to be used by 98% of Mainland China’s online users), brands can now connect with a highly engaged mobile audience. We are also utilizing WeChat to engage with respondents. These consumers share their opinions through a familiar environment where they spend time living their daily lives. This not only offers them real-time rewards on a trusted platform but gives brands access to reliable, representative data.

2. Approaching market research like you approach advertising

With almost nine out of 10 of today’s consumers maintaining an online presence via a smartphone device, the need to design for mobile is critical. This is equally true for advertising and so respondents can share their opinions when and where they want. This means being compatible but also relevant to the device in terms of length, capturing interest, and inspiring action. In market research we take this ‘modern survey’ approach seriously, ensuring the most considered, valuable responses can be achieved.

3. Connecting first- and third-party data

As technology evolves and CRM systems become more integrated, marketers can now connect survey data with a wide variety of third-party consumer attributes, permission-based first-party data, and CRM data. When done compliantly, with data privacy at the heart of what we do, linking opinions, demographics and consumption behaviours brings with it the ability to build deeper, additional insight into audiences and makes research a far more valuable asset that can realise the potential of your brand’s data.

4. Activating research data for media placement

Building an audience profile is a huge asset, but the benefits of this can be realised further by putting it into direct action. And that can bridge the gap between market research and marketing. You can now provide this data to your media buying agency for targeting an online video advertisement that was specifically created for this audience based on your initial survey research.

5. Artificial Intelligence

In recent years, AI has captured practitioners’ imaginations and at Kantar we’ve been exploring this in a number of areas, including:

Machine Learning

Assisting in the authentication process, by applying machine learning as part of the panellist registration process, any fraudulent respondents are detected as they register and not permitted into the survey environment. Not only does this allow greater confidence in the quality of the data but it also allows a faster turnaround time so this can be actioned more rapidly into marketing activity itself.

Conversational AI

This provides a new tool to bridge the gap between qualitative and quantitative methodologies. We have been developing Chatbots to create a more conversational environment with respondents, enabling more in-depth feedback and greater engagement. Chatbots allow the capture of enriched data sources such as images and videos from people in the moment. Most importantly, it moves away from self-reporting and offers a window to the real-life behaviours of the consumer.

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This article was sponsored by Kantar, Profiles Division