Every year market research professionals can expect new and exciting trends in market research. With technological advances, globalization, and new products and services continuing to break into an already crowded marketplace, it becomes more and more vital for businesses to better understand target markets. Developing successful marketing campaigns is key to continued success and increased revenue for the upcoming year.
Market research trends have drastically changed over the years and will continue to advance and evolve in 2019. Here are 3 market research and customer engagement trends to expect in 2019, as well as how market research professionals can help your company, brand, product, or service make a marketing impact to your target consumers.
Understanding consumer behavior and how it changes through market research can be the key to unlocking insights and success with your marketing campaigns.
Trend 1: Understanding How Customers Communicate and Research
Understanding how customers communicate has always been an important aspect of market research and it will continue to be in 2019. One of the key benefits of conducting a professionally designed market research project is the ability to identify the VoC (Voice of Customer). Marketing is intended to raise awareness about a product or service, generate leads for potential sales, or result in the purchase of a product or service by a consumer.
Consumers are bombarded by advertisements on multiple platforms all day, every day. In order to grab a consumer’s attention and guide them to purchase, a business must speak directly to the target market. Establishing VoC enables a business to do just that.
The truth is, consumers drive brands. Not the other way around. Billions of dollars are spent on advertising every year, but if the advertisements do not speak to the target market and are not utilized on platforms the target market uses, there will be a lack of ROI for the company.
Companies hope that consumers will communicate how they want them to, but that is not necessarily reality. According to Forbes, analysts think close to 50% of all searches will be made through voice search. Think about how much artificial intelligence (AI) has changed search capabilities in recent years.
People ask Siri or Alexa questions through voice command and AI responds with answers. VoC will allow companies to discover what exact words consumers are using when they ask their AI for information. Market research can answer questions such as “What problems are consumers facing?” and “What solutions are they seeking?”
With the increase in technological advances, people are relying more and more on technology for information. They use search engines to seek information, read reviews about products or services, and even make purchases without ever stepping foot in a store. Advertisements through magazines and commercials will always have a place in the market, but the increasing trend of online use will create a need for strategic online marketing campaigns.
Trend 2: Know, Like, and Trust
The concept of know, like and trust refers to the fact a consumer is more likely to purchase a product or service when they know, like, and trust the company or brand. Automation will never be eliminated from marketing, but in 2019 it will become even more important to demonstrate value, authenticity and helpfulness to the target market.
Professional market research companies can design, execute, and analyze projects that create case studies. Case studies demonstrate the value and benefit of a product or service and are backed by research. It is one thing for a company to say they are reputable, authentic, and a product or services works, but it has more perceived value and truth by the consumer when those claims are supported by proven evidence through research. Case studies can be intertwined directly into marketing campaigns, or they can be shared through publications to demonstrate the credibility of the company or brand.
In 2019, it will also be favorable for CEOs and executives to be active on social media. Sharing about themselves, as well as the products and services the company offers will help to build rapport with the target market. Long gone are the days when a company can throw up an advertisements and consumers purchase quickly and repeatedly. With new products and services appearing in the market daily, building trust with consumers needs to become a part of the company and brand identity. Market research can assist with identifying what and how content should be shared on social media platforms.
Trend 3: Engaging Content
As already mentioned, technology and globalization has changed and will continue to change the face of marketing. According to a recent study by media agency Zenith, the internet will catch up to television regarding “time spent using” in 2019, and a large percentage of that time will be spent watching video content.
With the emerging increase in video content views, market research will need to strategically uncover what target markets are watching and why. Live video is becoming more and more popular. YouTube use was reported as one of the top social media platforms in 2018 at 87%, demonstrating the power of video content. Although video content will continue to rise as an effective way to reach target markets, the content must be engaging to capture and keep the target market’s attention.
VoC supports a company and brand to create and use engaging content that the target market will be drawn to. With advertising and marketing, how quickly the target market becomes engaged is vital to the success of a marketing campaign. With video marketing, the most enticing content needs to be shared immediately since the average video viewer decides to watch or skip the video within 10 seconds.
A professional market research project can provide the knowledge for a company to put their best and most engaging content out into the marketplace. Driving brand, product and service awareness leads to more viewers converting into purchasing customers.
Remember there is not one right way to build a marketing campaign, but there are opportunities to stay at the top of the market even with the ever-changing marketing space. Utilizing professional market research services and aligning those projects with emerging marketing trends will guarantee continued success for the company, brand, product, or service. Understanding how the consumer communicates and researches, emphasizing the know, like and trust factor, and creating engaging online video content are trends to consider when developing market research projects and campaigns for 2019.
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