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Top 7 Market Research Trends

Today, being an expert in any domain is much easier than before, and market research is no exception. Books, blogs, courses, free online applications and DIY platforms, market research tools, and numerous other opportunities are available to all who strive to get additional knowledge and improve their research skills. Keep an eye on the most important developments in the industry to stay on top of the wave of changes.

1. Webcam eye tracking

Eye tracking will become more popular due to easily accessible solutions with user-friendly interfaces. Eye tracking solutions that don’t require any special equipment or laboratory conditions for conducting tests will be among the top tools in the market research industry.

We expect that in 2022 it will become even more accessible and smart. In its turn, this will provide marketers with a strong competitive advantage which will enable them to get more insightful data about customers’ behavior. Right now, you can already try webcam eye tracking developed by CoolTool. Here you will find additional supporting arguments to help you understand why webcam-based eye tracking is worth trying in 2022.

2. Artificial Intelligence will continue to expand opportunities for data analysis

Artificial intelligence (AI) has gradually become an indispensable technology in the market research industry, especially when it comes to the integration of research tools and data. At CoolTool, we use AI to improve the control over the quality of survey responses. For example, our research platform can identify answers provided randomly by respondents, while our AI-based eye tracking technology can easily detect the position of the respondent’s eyes and accurately track their movement.

All these allow collecting more data to improve products and customer experience. The AI-tech-based market research solutions will continue to gain momentum in 2022.

3. More automation

Time is one of the most significant resources today. It means that automation is the next big thing in the research industry which will dominate the market in the coming years. Five years ago, most advanced marketers were implementing automation of separate research processes (such as data collection or storage, for example). Today, the market already demands comprehensive automated solutions, where algorithms will manage everything from data collection to its analysis and final reporting.

This trend is primarily driven by increasing demand for highly precise and understandable data. Furthermore, it allows decreasing the impact of the human factor, which is, unfortunately, very often the main root of biases and inaccuracies when it comes to data interpretation.

4. Major efforts will be allocated to the testing of websites

In the majority of cases, websites and social media accounts are companies’ main communication tools. That’s why testing of user experience will become obligatory for competitive companies regardless of whether they sell products or software. Google analytics and proper data analysis are the minimum required package for all marketers doing basic market research.

Redesign of websites, testing of their content (slogans, logos, forms, location, and color of CTA buttons), as well as analysis of how customers interact with it (how they move the mouth cursor, how they interact with text, which images or design elements attract their attention, etc.) - all these and other numerous details are crucial for your website to make it stand out and attract customers.

Only by constantly improving the user experience of your website you will be able to increase your chances of catching and retaining customers’ attention and making them buy. Eye tracking, emotion measurement, click and mouth tracking, testing of mobile versions of the website are those tools that are able to substantially facilitate the aforementioned task.

5. Dashboards and real-time reporting

Integrated dashboards allow to simultaneously track different research parameters, which helps to save a lot of time and resources. At CoolTool, we worked a lot on data visualization so you don’t have to bother yourself with proper data interpretation, as upon the test it is visualized in the form of comprehensive and easy-to-read reports which can be used for different purposes and shared with other colleagues or external partners/contractors in case of need. Thus, the use of simplified, automated reporting tools and formats will be another thing on your wish list.

6. Things will become even faster

Thanks to automation, companies will be able to develop new research tools and solutions, enabling them to process more information within shorter periods. It means that competition will become even fiercer and only companies that will get high-quality data in a shorter period of time will reap true benefits. At the same time, the speed of the research shouldn’t be achieved at the price of the quality of its results, as the quality of data and depth of the insight will still be key indicators of the research success.

7. Understanding emotions

The focus of market research will shift from the analysis of logical decision-making patterns to the scrutiny of the emotional connection of customers with products. Brands will continue to shift towards targeting unconscious reactions of customers with their content. In order to do it effectively, they will have to collect more data about unconscious reactions of the brain through neuromarketing tools, such as emotion measurement, eye tracking, and implicit priming tests. Information obtained via these tools will allow companies to increase the effectiveness of their marketing efforts substantially and improve their products.

But the most important trend for all of us is making the brand and products meet the customers' expectations better. Follow the trends, learn the new approaches and be happy at your work.