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Is Biometric Research the NEW "Traditional Market Research"?

22 Mar 2018

What you called traditional market research a couple of years ago isn’t so “traditional” anymore. Today it’s rather outdated and old-fashioned. Research agencies which strive to keep up with the market trends are already actively incorporating different technologies into their business processes. For example, instead of traditional paper surveys, they use online platforms and they use survey kiosks instead of polls conducted by interviewers. Every year more and more conferences about neuromarketing are held, as well as bunches of accessible online research tools appear on the market. The emergence of such professions as ‘customer insights manager’ demonstrates that the research industry has already changed and those companies who do not embrace the change will simply fade away. 

Big Data is no longer enough 

Big Data is useful but is no longer enough for modern businesses as they want Smart Data and Deep Consumer Insights. In-depth analysis of consumer behavior based on information about unconscious brain reactions to external stimuli is what gives a real competitive advantage to companies. Thanks to the development of neuromarketing technologies, the research process is no longer a laboratory-like experience but rather an exciting entertainment. It means that today it has become far easier to get valuable data from customers which facilitates the research process and improves the results. 

Consumers love biometric research more than you think 

Respondents are eager to exchange their personal data for the value research results bring them – a better understanding of their own preferences as well as improvement of the products and services they consume. It seems that today’s research companies are more skeptical about biometric tools than respondents themselves. Especially it’s relevant for younger generations who are fond of modern technology and can hardly imagine their life without a camera. They use Snapchat and Instagram on a daily basis. Nowadays, every second person aged 15-30 is to some extent a vlogger. Surveys are also very popular, especially those conducted via social media. We are pretty sure that even you took one of those Facebook surveys which help you identify your spirit-animal or learn the number of kids you’ll have in 5 years. 

Neuromarketing tools are a must-have 

We are really sorry if this will disappoint you but today a decision about the application of neuromarketing tools is no more “a giant leap for the mankind”, but rather a rational step for the company (even though the use of such tech is still considered to be a solid advantage). Modern research is a combination of tools and methods designed to obtain conscious and unconscious data which helps to “paint” the complete picture of customers’ behavior and give an in-depth perspective on real emotions which certain products or services provoke. Thus, without these tools, no market research can be called “comprehensive” and/or “modern” today.    

Yesterdays’ ugly duckling of the research world has become a beautiful swan everybody is fascinated about. It means that neuromarketing is no more a luxury but a must-have if your research company is planning to bring maximum value to your customers at a reasonable price in the near future.

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