Everyone talks about market research and the unique ways we can utilize the findings from it, but how exactly do we conduct market research? Business.com this week released an article that details 13 different tools that help in conducting market research. The first listed, is the Google Keyword Planner which is essentially a free AdWords tool that can give you metrics and point you to where your demand is. Another easy tool they mention, one that I particularly love using, is SurveyMonkey. This neat little tool can help you conduct effective consumer insight surveys while also helping you customize these surveys to fit your intended audience. Finally, the last tool this article lists is social media. I, for one, strongly believe in the power of social media and its direct impact on gleaning new insights and trends. “Social media is a powerful tool for market research, if used properly. One approach is to contact influencers through direct messages and simply request feedback on your product or services.” Check out the full article for wonderful tips on how to effectively utilize free resources to boost market research.
An article released earlier this week on Entrepreneur discusses the importance of reaching the group of individuals known at Generation Z. According to the article, a new research firm by the name of Wildness, is on a mission to help marketers better understand this generation and reach them in new ways. The Wildness company was actually born out of AwesomenessTV which is a media company owned by DreamWorks Animation and the Hearst Corporation. The AwesomenessTV co-founder and CEO, Brian Robbins, stated that “’[Generation Z] may have just gotten the keys to the car…but soon they’re going to have the keys to the economy. In a few years, these consumers will contribute $44 billion annually.’” On top of working with other organizations to help them “activate Generation Z,” Wildness has conducted a study nationwide with 3,000 respondents that aims to shed some light on the different Generation Z practices and preferences. The article claims that this study revealed that most young people within Generation Z see themselves at cultural collaborators who “are seeking brands, retailers, and celebrities with who they can co-create” with. The entirety of the article is a solid read and I highly encourage those who are interested in market research to read it in full. After all there may be some things you did not know about Generation Z.
This week Fast Company released an article that highlights new animated heat maps that correspond with the noise levels in each neighborhood. The real estate site Trulia designed a new heat map of noise in neighborhoods by simply using the crime data on noise complaints. “Trulia pulled five years’ worth of noise complaints and mapped out the noisiest areas of Seattle, New York and San Francisco. It then used the software CartoDB to create GIF heat maps that show the changes by year.” The article also mentions how noisy areas can also pose a health risk and lead to cardiovascular diseases and stress. Obviously this method of tracking noise levels in neighborhoods a not a perfect method, however, it is an interesting approach and gives us insight on the varying neighborhoods of large cities and possibly how that impacts the specific population. To view all of the maps in full you can visit Trulia’s blog here.