The World Wide Web (WWW) has successfully completed its reign of 30 years.
When Sir Tim Berners-Lee conceptualised this idea in 1989, it seemed a hyperbole. But today, it’s not an overstatement. The proof? Half of our global community has claimed ‘netizenship’.
A survey conducted by the International Telecoms Union (ITU) has proven this. This transformation is due to the democratisation of online data. It’s dominating. Market trends are stemming from it.
It’s the power of the trio-data mining, outsourcing market research and innovation. This article proves that online data is gradually changing market research.
Let’s go through how this is happening through market research tools and online methods.
1. Big data has overwhelming options
Have you ever dreamt about the intensive penetration of the internet in planning?
Well, it’s a key player today. A decade ago or so, concrete planning seemed to be an uphill battle. Your brain alone took on all the thinking jobs.
Rewind and recall the sources of information. Weren’t they hard copies only-the newspaper, official documents, research papers, reports and yellow pages?
Let’s consider the case of tours and travels. A travel agent was supposed to come with an array of tour options. However, the itinerary only consists of a handful of destinations, constraint departure timings and dates, leaving few options that suited your fancy.
Today, you have ‘n’ number of options at your fingertips. all you have to do is click and explore an affordable package. That’s the impact of technology on marketing research in today’s business environment.
The information, which was once difficult to access, comes easily with the purchase of a data pack today. How much better is that?
However, the democracy of data is emerging in a dominating role.
The way outsourcing data mining companies optimise data collected from surveys, IoT (Internet of Things) and research tools, is incredibly awesome. But, there are downsides too. The internet is turning noisy and sensible and vague information live together here.
However, customers are only fond of relevant information, and they appreciate easy info-surfing through technology.
Several apps (like YouTube Insights, Facebook Insights, Google Analytics, Google Trends etc.) that study customer insights are there to read their intentions through online searches. Once merged, the analysis of those searches coupled with geo-location, will guarantee your customer’s intended offerings.
2. Search ends at selling
Once they come across the overwhelming choices online, they instinctively switch to more research. Customers tap on their mobile screen to browse search engines whenever they have the time.
The search engine land has found that Google receives over 63,000 queries per second on any given day. Cumulatively, its actual figure is in trillions.
If you consider McKinsey’s report, it explicitly conveys the user’s behaviour. It says that travel shopping journeys start with searches and quickly lead to conversions. These conversions will then be the ones attracting revenue.
So, marketers should be inclined to assist curious customers rather than focus on tempting tactics.
3. Traffic hops through devices
In spite of the fact that 10 per cent of mobile users grow globally every year, online marketers should keep in to account the user’s journey across devices.
Let’s say, a user loved a headphone set after seeing it on a display ad. His instinct may embrace cross-devices, like mobile phone, desktop or apps, to search about its features, price and payment options.
Therefore, the merchants should be well versed with digital playing. It’s a pivotal role today.
The user’s journey may travel through diverse digital experiences on various devices. Thus, to ensure loyalty and conversion, the digital experience on all devices should be seamless.
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