The industry analysis need to explore the cognitive theories that strengthen the way a brand’s target audience takes the globe around them and the marketing messages they are uncovered to online and in-store.
Such interpretations can make clear why consumers act as they do and how this behavior affects what they buy and when.
Behavioral economics technology can reveal, for example, which marketing opportunities must be prioritized, whether more convincing incentives or offers are required and what pain points that annoy consumers must be eradicated.
If it is done well, the right technology can push consumers towards a brand.
Behavioral economics often brings together and tested methodologies and combinations different market research procedures. It is heavily reliant on information collection and observation, while the quality of any results can be dependent on the skills of the person interpreting the information.
- Neuro Research:
Neuro technology researches the second-by-second electrical responses of the brain. Although, it is expensive to use the study, but the interest in science is rising.
It wanted discover what impact branded video featuring fashion, beauty, finance, and automotive content had a YouTube and Facebook and how connected people were.
It planned to determine participant’s brainwaves for permanent memory encoding, emotional intensity and engagement.
- Sensory Research:
Choosing the right image for online ads can double viewing time, especially on desktop, as per to picture library brand shuttle stock.
Te brand performed eye-tracking that reveals that images work best if they mirror the target audience’s demographic profile.
For instance, ads featuring children will be viewed longer by consumers who are parents. In addition, using faces can grab people’s interest but images that are busy can put them off.
Eye-tracking is an extraordinary piece of sensory research technology; however, it can be complex to set up and require lots of user-testing.
Yet this and biometrics technology and other emotional intelligence are being used by brands to play on consumer’s senses. Also, eye-tracking there are skin responses, heart rate monitoring and facial coding.
In market research report, brands will adopt programmatic if they are influenced the activity is significant, fraud is minimized and consumers need to participate.
But best practice rules certainly relate yet:
Technology is undoubtedly improving market research, providing marketers new ways to understand their audience and glean more in-depth results.
However best practice rules certainly relate yet, while technology is making research opportunities for marketers.
There should still be a good understanding of what a brand needs to achieve from any research. Nobody needs to create the assumptions and wrong decisions based on bad data, whether this is produced by machines or humans.
Technology had eradicated some manual tasks, but the personal touch should not be lost entirely.
Digital tools can repeatedly reaffirm what marketers thought by now, and disclose uncomfortable findings about a campaign or audience that, in private, a brand will admit it must most likely have already known.
Best practice as well includes making sure the right level of investment is made in any technology and then ensure it is used to full effect.