Consumers today, locally, regionally, and globally are faced with a wide range of “advertising” online, print, media, and through social networks.
Consumer lifestyles are influenced on a constant basis with advertising messages from their home, school, and work environment. SIS has expertise with innovative research methods that “tap into the consumers’ minds” and follow them through their customer journey.
What is Consumer Qualitative Research?
Qualitative research is an essential first step in the market research process. It helps marketers to understand the fundamental reasons behind consumer choices. Analysts conduct this type of research using unstructured questioning or observation. It complements quantitative analysis by explaining its results.
What is Consumer Quantitative Research?
Quantitative research gleans information from a healthy sample of individuals. This type of study emphasizes the measurement side of things. Researchers produce statistical records to measure a prevailing hypothesis or problem. Unlike qualitative analysis, quantitative research has a tight structure.
Consumer Market Research Solutions
Consumer Market Research can help these businesses by uncovering the needs of a prospective target market. Companies can use market research to test opinions, attitudes, usage and behaviors. They can also use it to gain insight into the competition or new opportunities. Market research helps firms to gauge the thought processes of the consumer. Analysts use several methods, including the following:
- Focus Groups: Researchers can use focus groups as a type of qualitative research. They must first gather a group of people. The researcher then asks them about their attitudes toward a product, concept or idea. The focus group format has several advantages. It’s a low-cost method, and candidates are more likely to be forthright. It is handy for project evaluation and needs assessment purposes.
- In-Depth or One on One Interviews: Market researchers use this tool to collect data from consumers of rival products. They also use it in circumstances where their client needs an expert opinion. They use it when gauging high-level executives, business owners, and critical opinion influencers. They also use it for community leaders, specialists, and technicians. In-depth interviews are useful to gain insights from experts on any delicate topic.
- Online Video Interviews: Researchers can now use FaceTime, Skype, and similar platforms to interview participants. Video interviewing offers a real-time connection. It is cost-effective, thus researchers can increase the variety of samples. Online interviews work well as a complement to face-to-face interviews.
- Telephone Interviews: Researchers carry out telephone interviews, as their name suggests, over the phone. They can use them as depth interviews, using a topic guide. Researchers also use telephone interviews for quantitative research. They can conduct the interviews via a CATI (Computer Aided Telephone Interviewing) system. This method allows the researcher to upload responses right away for analysis.
- Online Surveys: Researchers favor this method for many reasons. It’s easy to profile prospective respondents to ensure that they’re right for the survey. It’s also a cost-effective method. Researchers can cross-link the information received with qualitative data. Online surveys also make it easy to interview hard-to-reach respondents.
The Impact of Digital Innovation and Disruption
The world is seeing an unparalleled wave of innovation and disruption. Some have compared it to the dawn of commercial electricity in the early 1900s. The technologies related to this wave include Cloud Computing and Artificial Intelligence. Also included is the Internet of Things and online interface design. Online Shopping, Home Assistants, Smart Technology and Mobile Technology have the potential to impact the Customer Journey and Experience for billions of people. These technologies will continue to progress. They will also magnify one another’s impact during the next few years.
Consumer market research enables companies to use innovations such as Omnichannel marketing. Omni-channel is a seamless experience, regardless of device. Consumers can now engage with businesses by calling them on the phone or using a smartphone app. They can also use a laptop, tablet, or desktop computer. Marketers can use Omnichannel to “listen and respond” on preferred devices.
Companies can start understanding the new consumer. They can also comprehend the unique challenges that they present. If they want brand loyalty, they must change the way in which they approach research. They will relate better with their consumers by contextualizing their outreach.