Marketers began conducting market research in the 1930s. That was 92 years ago! Still, brands rely on traditional, offline methods to conduct research. Traditional market research methods are not enough anymore and come with drawbacks.
In a “dog-eat-dog world,” brands are competing to grab the attention of the same consumer base. To do this successfully, you need actionable and reliable insights. But insights gathered through traditional market research lack these two elements.
Online research platforms have modernized consumer research in recent years. They are taking quantitative and qualitative research methods online and solving the need for actionability, accuracy, and scalability of consumer research. Moreover, some of these platforms are powered by AI technologies like facial coding, eye tracking, and voice AI to understand consumers’ underlying emotions and subconscious preferences.
Let’s look at how adopting online research platforms can add significant value to your organization’s marketing success.
How Can Marketing Teams use Online Research Platforms
Did you know that a person, on average, is exposed to over 10,000 ads a day?
Pain Point: Marketers struggle to evaluate the performance of their creatives.
Platform Advantage: Lets you test ads within weeks, right from concepts to market ready ads, de-risking ad spends and increasing ROI.
- Online surveys to evaluate metrics like brand recall and purchase intent evoked by the ads.
- Online in-depth interviews and focus groups to get qualitative insights from customers
- AI technologies like facial coding and eye tracking to get second-by-second metrics on emotional engagement and visual attention
- A/B testing to pick the ads that score higher on all metrics against benchmarks
Did you know that according to a Harvard Business School report, preparation is the most prominent problem marketers face when launching a new product?
Pain Point: Marketers do not have actionable insights while validating concepts.
Platform Advantage: Online research platforms help you predict the success of your concept’s pre-launch, giving you a clear direction on the next steps.
- Compare your concepts against your competitors and industry benchmarks
- Use surveys, interviews, and focus groups to know what’s working and what’s not
- Test concepts and mock-ups of any kind within weeks to avoid production delays
- Use Facial Coding and Eye Tracking to get implicit and unbiased feedback
Did you know the cost of launching a new product is approximately $15 million?
Pain Point: Marketers struggle due to a lack of agile and reliable insights
Platform Advantage: Online platforms get you actionable insights on product launches, including packaging, ads, and concepts, within weeks, causing zero launch delays.
- With intelligent automation and analysis, insights are unbiased and accurate.
- Test all products and concepts online, cutting down research costs and logistics.
- Compare against category/industry benchmarks to learn where your new products stand.
- Get insights within 1-2 weeks so that there’s enough time for revisions before the launch.
Did you know 56% of online shoppers prefer an in-store experience over online shopping?
Pain Point: Marketers cannot afford to wait for months on in-store tests and CLTs.
Platform Advantage: Online consumer research platforms make it possible to simulate retail store environments virtually, expediting shopper research to 1-2 weeks instead of 3-6 months.
- Evaluate planograms, package designs, and shelf placements on online platforms.
- Track the path to purchase of online buyers with screen recording and eye tracking.
- Identify purchase triggers and friction points leading to cart abandonments.
- Measure consumer’s shopping experiences, emotions, and subconscious preferences.
Marketers often avoid involving themselves in consumer research, thinking it requires subject matter expertise and is meant only for research teams. Online research platforms bridge this gap between marketing and research, solving for 3As of Insights – Actionability, Accuracy, and Agility. Let us look at how one can adopt online research platforms as a marketer.
Faster Quantitative and Qualitative Research
Research is primarily of two types- Quantitative and Qualitative. Online research platforms take these methods entirely online to get faster insights and add a layer of AI to ensure that the insights are actionable and accurate.
Integrated Research platforms with quant and qual capabilities provide an end-to-end research experience. Be it surveys, FGDs, or IDIs. You can get unbiased actionable insights – all in one place. It makes the entire process faster and reduces the overall turn-around time.
For example – Imagine you want to conduct a focus group discussion. With an online research platform, you can run it entirely online without the hassle of setting up an offline environment for the respondents.
Intuitive Dashboards for Actionable Insights
Online research platforms have user-friendly, interactive, and intelligent dashboards. With automated reports and data visualization, cross-collaboration becomes seamless.
Also, online research platforms serve as a single source of customer intelligence for research and marketing teams, adding visibility and searchability to research campaigns.
For example, imagine you want a quick look at the insights from last year’s research campaign. With online research platforms, you can download, view or share all your reports with a click of a button.
Online Panel for Wider Reach
Online research platforms either have an in-house panel or an integrated panel. Traditional market research methods limit your sample size. But with online research platforms, you can research on a massive scale.
They also reduce the burden of sourcing, screening, and sampling the respondents. This gives marketers flexibility and scalability to conduct consumer research on their terms. It also reduces dependency on research agencies that take ages to deliver insights.
For example- You want to know which audience group will positively receive your ads. You can experiment and choose the best fit for your campaign with access to an online panel.
Benchmarking for Market Landscaping
Benchmarking scores give you a clear understanding of where you stand. This score can assess your performance against industry standards or selective competitors.
This may be a hard pill to swallow, but it is necessary. The best way to learn and drive growth is through continuous improvement. With online research platforms, you can repeatedly test and make modifications to put your best foot forward.
For example- You want to launch a holiday-themed ad, but your competitor already has a legacy in this segment. Using benchmarking scores, you can test your ad against their ad performance.
Consumer research might seem time-consuming, daunting, and expensive, forcing marketers to rely on their gut instincts. But DIY online research platforms make conducting research much more accessible, quicker, and actionable.
With technologies like facial coding, eye tracking, and voice AI, you can tap into the subconscious behavior of your consumers. Traditional market research lacks actionability and accuracy, making research slow and arduous. AI modernizes the way research is conducted to increase speed and agility. Online research platforms allow you to choose your panel and conduct tests that suit your requirements.
Given the benefits of online consumer research platforms, it is high time marketers consider research an integral part of their marketing success. Marketers must adopt research platforms to understand their customers better and work alongside research teams to modernize their research methodologies and processes.