Time to Look Under The Hood.
You don’t have to be a car person to know the word ‘turbo’. You see it on muscle cars and expensive imports. It sounds kind of hokey, like a way to charge more for a car. And then you drive one. After the adrenaline wears off you find out that this is very real. It’s a way to force more air into the combustion chamber of an engine. It’s an immense difference in power. If you could turbo-charge your next research project you would, wouldn’t’ you?
Corporate Researchers Need To Know.
Research is hard. Corporate research teams are expected to provide answers, not more questions, but it’s not always that easy Not every information request will lead to the big breakthrough, but in every case, the findings are expected to drive decision making and fuel strategic thinking.. Big steps or baby steps. It doesn’t matter. Every project requires diligence, accuracy, and the latest tools. And all of that has to be done within existing budgets and timelines.
If your company is trying to launch a new product or campaign, or target a new audience, or improve your brand’s SOV, you’re going to need real insights. In the modern business environment, surveys and focus groups aren’t fast or flexible enough to get you the answers you need.
Luckily, consumer research teams have a new weapon in their arsenal: AI-Powered Consumer Insights from social media data and online conversations.
How Do You Feel About Saving Time, Saving Money and Getting Better Results?
No catch here, just a better tool. Mining consumer insights with artificial intelligence is an evolutionary research capability. If you’re clear on exactly what you want to know and you have the time and budget for traditional research, great. These methods can yield valuable findings. But if you want a bigger data set and better tools to analyze it, here are four good reasons why you should consider amping up your project with online consumer insights:
- Time. Online insights research is fast. Machine learning and artificial intelligence allow lightning-fast turn-around times with no loss of quality or accuracy.
- Sample. This is a stunner. The sample size is virtually everyone who has used the internet in the last 10 years. Billions of online conversations, information from publications, forums, websites, even your own proprietary data can be included in the sampled group. Actionable insights hinge on huge, reliable datasets, and online consumer conversations are as big as they come.
- Cost. Start to finish, an AI-Powered Consumer Insights platform will cost less than a well executed traditional research effort.
- Insights. When you get reliable answers to research questions, you have results you can use. When you compliment them with insights from online consumer conversations, you will get answers to your question and a lot more. See below for what that means for your business.
A Brief Introduction to Consumer Insights Resources.
You may or may not have used online conversations in your research before, so before we go into specific benefits for the consumer research department, we’d like to present you with some resources that cover the basics of AI-Powered Consumer Insights: how it works and what it does well. The titles in these links are self-explanatory. Please review the ones that are most relevant to your role. And don’t forget to come back!
Fundamentals of Social Media Analysis
What Are Consumer Insights?
AI Powered Audience Analysis.
What is Social Campaign Analysis?
What Is Artificial Intelligence?
AI-Powered Consumer Insights Defined
An important part of survey or focus group research is the material you bring to the process. Carefully crafted questions. Various messages you’d like to test. Product design. Packaging. There’s almost no end to what you can ask a well prepared survey sample, or a solid focus group with a great moderator.
But consider this: In many cases you are looking for a preference or a ranking of the propositions or products you bring to the research. This campaign or that campaign. This color car or that color car. Even something like yes I still like to read paper books even though I own a Kindle. These are perfectly good results.
Obviously when you’re asking the questions, the answers will be focused on the specific information you’ve asked for. But what other information is out there that you didn’t ask for and need to know?
Insights occur when you discover something you might not have been looking for. When you are presented with a research picture that connects the dots in unexpected ways that turn out to be incredibly valuable, even if you never could have foreseen them.
The Ultimate KPI: Being As Smart As Possible
Imagine accessing the industry’s largest library of online consumer conversations. And the ability to customize a research algorithm to measure something as specific as “intent to purchase” a certain product. The baked in flexibility to export results into the intelligence platform of your choice and share with stakeholders. And trends. Help yourself look ahead by discovering the most powerful recent trends.
Insights In Focus.
Here’s what can happen when AI-Powered Consumer Insights becomes part of your research tool box. In the examples below the first phrase, or premise, could easily be the focus of a traditional research project. The insights right below, are typical of the results you’d get when addressing the wider, unsolicited data available on the web.
Original Research Premise
Which do you prefer? Starbucks or Peet’s
I sure wish you served more flavors of tea
Original Research Premise
If Camry made a station wagon would that interest you
All I want in a family sedan is safety
Original Research Premise
Which of the new Diet Coke flavors do you prefer
I like the new bottle because it’s easier to open.
Combine this information with what you learn from traditional research and you will have a deeper, panoramic view of your category and what consumers are thinking. In fact, you may discover an insight that could have an even greater impact on your business than Consumer research teams can use social media data and online conversations to develop a wide view of their industry and what consumers are thinking.what you were originally looking for.
Unsolicited. Unedited. Underrated.
Think about one of your upcoming research projects and imagine a set of results that are based on an infinitely large sample, leveraging conversations from every related publication, forum, and website in your client’s category. Now, add in your own proprietary data, which might include sales information, product innovations, distribution plans etc. That’s a very big picture.
Beyond the size of that awesome database is the unique nature of online insights research. Extreme credibility. In the case of social data, forums, and comments, you are looking at data that has been voluntarily posted to the public space. These are opinions and expressions that are spontaneous and unsolicited. This information has been added to the web by consumers, companies or other entities, and machine learning helps organize the findings based on your research goals.
Now, say you subscribe, even a little bit, to the notion that when an organized set of respondents is asked specific questions, there are a number of factors that can conceivably alter or at least influence the answers given. Even though we try our best to account for that phenomenon and its occasional bias, those factors are still there. None of them are present with AI-Powered Consumer Insights research.
Research Will Never Be The Same. It Will Be Better.
Researchers and consumer insights professionals are in the information business. Finding it. Sorting it. Applying it to issues that are important to the enterprise. If you ask a researcher how about the internet?… you could get a lot of different answers. Impossible, too much, unmanageable come to mind. That’s all changed. You can now benefit from this vast resource with well managed artificial intelligence. The biggest data resource in the world is now yours for the asking.
For deeper insights on the power of consumer insights, download the Brand’s Guide to Modern Consumer Insights today.