Expensive market research has long been a drain on our media budgets. Now, technology is helping us drive down costs and increase our research effectiveness.
When we talk about marketing technology, programmatic media buying, omnichannel campaigning and chatbots are generally the first applications that come to mind. However, as reported in this week’s edition of Marketing Week, Brands are also finding new ways to automate market research and analysis.
Industry leaders are increasingly using computers to make the collection of market research data faster and more efficient, and perform initial analysis of results. As with other forms of martech, this enables marketers to spend their valuable time gleaning professional insights, and using our human intuition, in the pursuit of better marketing strategies.
Marketing Week cites Reckitt Benckiser, owner of brands including Dettol, Durex, Harpic and Air Wick, who are using a fully-automated creative testing process. They have reportedly increased the number of ads tested in a year by 77%, from 188 to 333, with a 14% jump in effectiveness across TV commercials, Facebook, point of sale and online video.
Now Reckitt Benckiser are exploring how automation could be used in other areas of research, such as qualitative interviews carried out in people’s homes.
Marketing Week provides several other examples of how organisations are leveraging technology to improve their market research.
- NASCAR is conducting real-time fan research during races, improving the experience for both advertisers and viewers.
- Transport for London is using online quantitative methods to evaluate its different marketing campaigns.
- Publisher Trinity Mirror has created a 10,000-strong online research community it calls “Mouthpiece”. Readers of its national and regional news brands provide feedback on how news stories are being covered, and this is relayed to advertisers to help them craft their creative.
The full article is certainly worth a read.