Trends Analysis with innovative Market Research
March 10, 2023
Traditional market research channels are becoming less effective in identifying future trends.
Boomerang ideas can provide a faster, more cost-effective, and more authentic approach to trend analysis compared to traditional market research channels.
Analyzing trends through innovative Market Research for a competitive edge
Limitation of traditional Market Research channels - Slow and incomplete identification of emerging trends
- Limited scope: Traditional market research channels typically focus on past and present consumer behavior, which not always accurately predict future trends. This approach fails to identify emerging trends that are not yet mainstream.
- Slow turnaround time: Traditional market research methods are time-consuming, often taking weeks or even months to collect and analyze data. By the time the research is completed, the market landscape may have already shifted, making the findings less relevant.
- Incomplete data: Traditional market research methods often rely on surveys or focus groups, which may not provide a complete picture of consumer behavior. Participants may not always provide honest or accurate answers, and their behavior may differ from what they say they would do in a survey or focus group.
- Limited access: Traditional market research methods are not able to capture insights from hard-to-reach or niche groups, such as younger generations.
- Bias: Traditional market research methods may be influenced by the biases of the researchers conducting the study, as well as the participants who are selected to participate. This skews the findings and leads to inaccurate predictions.
Trend Analysis over Social Media
Trend analysis over Social Media channels allows for a quicker response to emerging trends and a more representative data set than research over traditional channels. The main benefits of restrend analysis over Social Media channels are:
- Real-time data and faster decision-making: Social media platforms provide a constant stream of data that can be collected and analyzed in real-time.
- Large and more representative sample size: Social media surveys can reach a much larger audience than traditional market research methods.
- Cost-effective: Traditional market research methods, such as focus groups or phone surveys, can be expensive and time-consuming.
- Authentic and unfiltered feedback: Participants are more likely to provide honest opinions in an informal and anonymous online setting.
- Demographic targeting: Social media surveys can be targeted towards specific demographics or groups, allowing for a more tailored and relevant analysis of trends within a particular market.
Boomerang Ideas - the revolution in Market Research
- Boomerang Ideas offers a more effective approach to trend research than traditional market research channels, by leveraging innovative algorithms and big data analytics to uncover emerging trends in real-time and providing a more comprehensive and accurate understanding of consumer behavior.
- The social-media-algorithm is developed in collaboration with researchers from the University of Zurich, a reputable academic institution with expertise in data analysis and research methodology. This collaboration ensures that the algorithm is based on sound scientific principles and rigorous testing, and that it has undergone thorough peer review.
How to throw a Boomerang
- Create with just 3 clicks your survey for your target audience in our easy-to-use tool.
- Watch your responses in real-time.
- Receive your raw-data and a presentation-ready PDF report.
All this in under 7 days.
Exemple of a completed Boomerang
Try it today