Video creation and consumption has exploded over the past decade. With YouTube ranking as the second largest search engine in the world, it is no wonder why marketers are hopping on the video train. In fact, according to this study, 64% of consumers purchase a product after watching branded video content.
What does this mean for market research? Video can positively impact the way in which researchers collect feedback and data. Our market research firm has already incorporated video into qualitative market research studies such as focus groups and quantitative research methods like online surveys.
From firsthand experience, Drive Research has seen the benefits of incorporating video into our market research studies. So much so, we thought we’d share some of our favorite aspects.
Seeing and hearing respondents is believing. Learn why leveraging video in your market research will take your data to the next level.
Add depth to online surveys
Online surveys are one of the most cost-effective and time efficient marketing research methodologies. Our online survey company often recommends this type of quantitative research to organizations looking to capture data and insights fast.
However, oftentimes online surveys do not attract the most insightful and in-depth information from respondents. With surveys online, researchers and their clients are at the liberty of respondents rushing through the questionnaire and/or not offering more than a one sentence response.
By incorporating videos into online or other types of quantitative surveys, respondents are more engaged and more likely to provide their insightful answers to open-ended questions. It is much easier for a respondent to speak about a given topic, than it is to type or write an answer out. Video responses within online surveys are great for extracting quick yet detailed data.
Easily explain a new concept
A big portion of product development relies on market research to guide their decision making, especially when testing a new concept. It can be difficult to explain a concept, if it does not already exist in the market. Sometimes, seeing really is believing. Here is where video comes in handy!
Whether it be a focus group, an in-depth interview, or an online survey market researchers can easily identify and explain a new invention to research participants. Moderators no longer have to illustrate complex aspects of new products, which often result in participants being confused or having to use their imagination.
With video, more complicated inventions, products, or concepts are easily presented and can elicit a more natural response or emotion from target customers.
Learn more about how video focus groups work.
Capture a path to purchase online
The use of video in market research is also beneficial for capturing decisions, habits, and emotions of consumers shopping online. With a simple integration of a webcam and sharing of a screen, researchers can watch participants as they navigate through a website or online retail store.
For example, a retail store wants to understand the impact online reviews and ratings of their clothes have on online sales. With video, researchers are able to capture in the moment purchases from when a user starts their shopping experience to checkout. They can watch how common it is for people to scroll to the reviews, how long people read each review, and whether or not a positive or negative review impacted the user’s decision of buying an article of clothing.
Additionally, video can capture if users get distracted by outside factors such as a text message, a phone call, family members, or friends – causing them to delay a purchase or not make the purchase at all.
Convey market research findings to your team
Lastly, video doesn’t only need to be incorporated into the actual execution of the research, but can also be a great tool to reiterate the findings of the study to your team. Video is helpful in humanizing data and numbers, rather than just reading it in black and white in a report.
Similar to a whiteboard animation, members of your team are more likely to stay engaged and process the information in a better way with the use of animation or an explainer video of sorts. This is a different approach to highlighting big challenges and necessary action items for change, often found when completing a marketing research study.
Contact Drive Research
Drive Research is a market research company located in Syracuse, NY. Our team has the knowledge and tools to design a robust market research study, should it be the right fit for your business.
Interested in learning more about our market research services? Reach out through any of the four ways below.