The old idea of market research or marketing research* has come a long way since its birth in the 1920s. The traditional image of eager young men and women with clipboards questioning customers in shopping centres is way past its sell-by date.
These days, much more sophisticated methods are used to find out what consumers think and, just as importantly, how they behave.
Market research on video sites
In one recent study, a leading UK TV channel wondered whether there were better levels of viewer engagement with advertising on premium video sites compared to social media sites such as YouTube and Facebook.
The research agency specialists used eye tracking and brain activity based tests that measured viewers’ attention and engagement levels accurately on a second by second basis.
When the results were analysed, the study showed that attention to advertising on premium video sites was 3.5 times higher than it was on social media video sites.
This simple insight is a powerful weapon in the marketing armoury and allows for more effective budgeting when planning media campaigns.
*Market research is the action or activity of gathering information about consumers’ needs and preferences. Marketing research is analysis of the effectiveness of various marketing campaigns.
Has your company conducted any market research? if so, ask if you can have a look at the reports.
See what insights have been uncovered, and if you can uncover any more. Talk to the person who commissioned the study and explore with them why they commissioned it, whether they needs were met and what actions were taken.
If you are responsible for commissioning research, challenge your supplier to uncover more insights.
If you’re interested in market research, consider joining ESOMAR, the European research professional body, or MRA, the American Marketing Research Association. As a member you’ll have access to their conferences, expertise and their studies.
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