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What are some emerging technologies for market and customer research?

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Market and customer research is a vital process for any business that wants to innovate and stay ahead of the competition. However, traditional methods of collecting and analyzing data can be time-consuming, costly, and prone to biases. Fortunately, emerging technologies are offering new ways to conduct market and customer research that are faster, cheaper, and more accurate. In this article, we will explore some of these technologies and how they can help you gain insights into your target audience, their needs, preferences, and behaviors.

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Tara Beard-Knowland

1 AI-powered surveys

Artificial intelligence (AI) can help you create and distribute surveys that are more engaging, personalized, and relevant to your customers. AI-powered surveys can use natural language processing (NLP) to understand the context and sentiment of the responses, and generate follow-up questions based on the answers. AI can also segment and analyze the data in real-time, and provide actionable recommendations based on the results. AI-powered surveys can help you reduce survey fatigue, increase response rates, and improve data quality.

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2 Eye-tracking devices

Eye-tracking devices are tools that measure and record the eye movements and gaze patterns of the users. Eye-tracking devices can help you understand how your customers perceive and interact with your products, services, or marketing materials. Eye-tracking devices can provide insights into the attention, interest, and emotions of the users, and reveal what attracts or distracts them. Eye-tracking devices can help you optimize your design, layout, content, and messaging, and enhance the user experience.

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Tara Beard-Knowland
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Eye-tracking has been around for decades and has long been especially useful in gathering shopper insights - where do shoppers look instore (and online), what draws their attention, etc. The most accurate eye-tracking comes via a purpose-built device, but you can also use the camera on a respondent's device (assuming you have the proper permissions) to understand what they are looking at. Again, this has been around for over a decade, so is not precisely innovative, although it is much more scalable than it used to be. Eye-tracking can be useful when it comes to measurement of attention, which has been, for the last 2-3 years, a major buzzword in media and creative.

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3 Biometric sensors

Biometric sensors are devices that measure and record the physiological and behavioral characteristics of the users. Biometric sensors can help you capture the subconscious and emotional reactions of your customers to your products, services, or marketing materials. Biometric sensors can include heart rate monitors, skin conductance sensors, facial expression analyzers, and brainwave scanners. Biometric sensors can help you measure the arousal, engagement, and satisfaction of the users, and identify the triggers and drivers of their behavior.

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4 Social listening tools

Social listening tools are software applications that monitor and analyze the online conversations and mentions of your brand, products, services, or competitors. Social listening tools can help you understand the opinions, attitudes, and preferences of your customers and potential customers. Social listening tools can also help you identify the trends, issues, and opportunities in your market, and track the performance and reputation of your brand. Social listening tools can help you improve your customer service, product development, and marketing strategy.

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Tara Beard-Knowland
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Social listening tools can help understand what is being said in social media spaces (including comments on news articles, blogs, forums, in addition to standard social media). Note that social listening is not representative nor is it reliable (able to get a repeatable result). Consider 1) your sample universe (forums? on Twitter? somewhere not covered by social listening platforms, i.e. Facebook, LinkedIn); 2) the breadth of scope of your data (broad vs narrow); 3) the analysis framework for your data, including any cleaning and treatment of the data. There are other considerations but these are the most oft forgot, especially by the platforms, which often assume that volume is the most critical metric when it does not always matter.

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5 Virtual reality (VR) and augmented reality (AR)

Virtual reality (VR) and augmented reality (AR) are technologies that create immersive and interactive experiences for the users. VR and AR can help you conduct market and customer research in simulated or enhanced environments that mimic the real world or create new scenarios. VR and AR can help you test your products, services, or marketing materials in different settings and situations, and observe the behavior and feedback of the users. VR and AR can help you reduce the costs and risks of prototyping, and increase the realism and engagement of the research.

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Tara Beard-Knowland
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These technologies have been used in types of research where you need to experience something - like the experience of shopping - for a long while. What is new is the ability to do other things with these technologies, especially, for example, in product testing. In the future, as the metaverse emerges and VR and AR become how people experience the world, more use of these technologies to test and trial in situ will be critical. Either way, scalability is, at present, the biggest barrier, but this will reduce with time.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are some emerging technologies for market and customer research?

1

2

3

4

5

6

1 AI-powered surveys

2 Eye-tracking devices

3 Biometric sensors

4 Social listening tools

5 Virtual reality (VR) and augmented reality (AR)

6 Here’s what else to consider

Business Innovation

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What are some emerging technologies for market and customer research?

1

2

3

4

5

6

1 AI-powered surveys

2 Eye-tracking devices

3 Biometric sensors

4 Social listening tools

5 Virtual reality (VR) and augmented reality (AR)

6 Here’s what else to consider

Business Innovation

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