Lead-Generation Benefits of Market Research For Entrepreneurs

EM Admin
Sep 5, 2018
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Big-data driven intelligence is gaining momentum. The disruption of data is all around. Almost every economy is experiencing its prints across the globe.

Why? Why is the corporate world hungry for the decisions and predictions that the data deliver? What value does the data set offer? Do they hide benefits? Do they attract leads and conversions?

These queries make sense in the scenario wherein the data pull out the fact. That fact has answers of how you behave, how you think and what you do instinctively. These are all the constituents of a market research. The technology is fueling it exponentially. Consider Google’s Home or Amazon’s Alexa. It produces the facts that you could churn through and put into analytics. Then, see them through the lens of a data scientist. They derive patterns that become a trend. This is what the data mining is all about.

To catch on leads and conversions, it’s leveraging if you know about your customers, projections, tricks to reach customers and scanning social media. Let’s have a look over all these leveraging ideas in a sequence.

1. Know-Your-Customers: How could you target the audience sans knowing them? It doesn’t make sense.

Walmart is on the way to set a perfect example in this regard. It filed for two VR-based patents. It’s going to launch a VR gear for the busy parents and shift workers for a small fee. Besides, they might have discount on the first purchase for $15 and get 10% off on the first order, according to a blog on Forbes.

The data mining result of the research unfolded the fact that customers do want to undergo the in-store experience at home. So, it has decided to launch the VR headset together with sensory gloves. As far as pulling orders is concerned, the robot could do the job.

In the nutshell, the advanced market research along with predictive analysis and deep learning helps brands to forge new understanding. The expert data miners churn statistics to pull out hidden patterns, trends and customers behavior. This is how they spin the knowledge of customers. Thereupon, the fundamental strategies to attract leads and conversions take rise.

2. Behaviour Projections: Projections need a concrete base of the supporting statistics or reality. Facebook does it.

It got connected with its over 2 billion community worldwide. Its interaction led to fruition. People opened their hearts. This is how it came up with an idea of launching a ‘Creator App’ in November, 2017. Today, its social community has an easy access to tools that create intros and outros, custom live stickers and graphic frames. It also introduced a unified inbox wherein FB and Instagram users can comment from messenger.

It’s a good idea to interact with the potential audience and serve what it actually requires.

3. Boarding Customers: A flashy title ‘Try Before You Buy’ of the L’Oreal Ad is not a dream but a reality.

Customers instinctively desire to experience before investing their hard earned money. L’Oreal teamed up with the Facebook for bringing more customers on its board. FB’s AR based advertisement throws ‘Try On’ cosmetics on the app. And the customers can place order without leaving their FB page.

It’s an outcome of a wise market research. L’Oreal, a reputed cosmetic brand, got in-touch with its audience and FB community. The comments and reviews pushed it to go for the AR ads. This is how leads and conversion are bombarding for the L’Oreal.

4. Tap on Trends: Tapping on the trend is no big deal. If you talk about the best source, it’s Google. Yes! It’s the best aid to know what’s trending. Just a phrase or words are enough to anchor the trends that are pertaining to that keyword.

Mostly digital marketing experts and content managers switch to Google Trends to get a free access to what in-trend is.

5. Scan Social Media: Social media has a bundle of leads and conversions. Just the lens of an expert is required. A dozen of comments and an array of feedbacks can play an elemental role in the market research and data mining.