When a customer sees an advertisement for a product that appears to be ideal for them, they may feel lucky, but this situation probably wasn't—and shouldn't—based just on good fortune. Businesses use strategic market research to enable these scenarios. With useful data about its target market at its disposal, a business can design goods and launch advertising campaigns that speak directly to customers. The advantages don't end there.

The information gathered from market research may be used in many different ways to help your business succeed.  Doing market research will assist you in creating an effective marketing plan. It is among the factors that make market research crucial for businesses seeking to make well-informed decisions. The significance and applicability of market research will be emphasized in this article. You need to understand the choices and preferences of your target market if you want them to embrace your goods and services. You can obtain vital information about your competition and current products by conducting market research.

Customers are expecting more and more from brands. Customers expect a tailored marketing experience that appeals to their interests and values, as well as their needs and wants, as well as those of their communities.  The increasing diversity of the U.S. consumer market has made it necessary for businesses to adapt to the changing cultural complexity of the modern consumer.  ThinkNow has been providing qualitative and quantitative market research solutions that elevate the voices of multicultural customers for more than 15 years. Its products are made with the express purpose of ensuring that the distinct viewpoints and insights of these important but difficult-to-reach consumer categories are fairly represented in the strategic decision-making processes that support media and marketing that is sensitive to cultural differences.

The business focuses on identifying total market insights that necessitate multicultural understanding as well as insights from Hispanic, Asian, and African American consumers. Additionally, DigaYGane.com, one of the biggest and most representative Hispanic internet panels in the business, is owned and run by ThinkNow. It is utilized for both its own research and as a source of samples for top global market research firms.

Thinknow ConneKt

In the ever-changing cultural and demographic landscape of the United States, it is more important than ever to offer genuine insight solutions that support businesses and organizations in thriving. ThinkNow helps businesses identify the factors influencing consumer perceptions and decisions. They will identify the forces within the quickly evolving consumer culture that affect your business and brands, whether it be broad market needs or more specific cross-cultural research.

Because of this, they created ThinkNow ConneKt, a powerful audience segmentation tool geared toward the multicultural market that gives you access to accurate and up-to-date consumer data to better serve your clients.

It is a technique for audience segmentation that provides precise and up-to-date consumer data, including:

• Mobile tracking: apps utilized, search terms entered, GPS, and webpages seen.
• More than 1.5 million data points were collected from thousands of questionnaires.
• Zip code, age, gender, ethnicity, acculturation, and language are the panel profile data.

Using a variety of consumer attribute filters, ThinkNow ConneKt offers businesses the ability to create more detailed profiles and obtain a thorough understanding of their target audiences, enabling them to target particular segments with their communications and campaigns. In addition to offering the client a nationally representative sample of the general market, ThinkNow's suggested audience segmentation and planning tool, ThinkNow ConneKt, significantly enhanced their target audience of decision-makers and policyholders for vehicle insurance.

The national motor insurance provider received useful customer data from ThinkNow ConneKt. They were able to use this data to drive their future media plans and target particular personalities with tailored methods. With ThinkNow ConneKt, you can target audiences with similar attitudes, interests, and behaviors with your creative and communication strategies in order to achieve desired outcomes.

ThinkNow Audiences

With regard to creating customer segments for programmatic advertising campaigns, it provides marketers with the most precise options available. Their sophisticated 'Look-a-Like' model, created in collaboration with Semasio, makes use of data from ThinkNow surveys of the general public, the LGBTQ+, multicultural, and disability communities, among others, to create audiences that accurately reflect the quickly evolving American consumer market. Ad companies always turn to ThinkNow audiences in the post-cookie era of advertising.

Customers who identify as Hispanic, African American, or Asian American are identified by ThinkNow audiences as both American-born and foreign-born. ThinkNow Audiences solely uses information from third parties. Therefore, they are not subject to the same limitations concerning the gathering of data by third parties. Consumer consent to participate in survey-based data collection, or permission-based data, is the foundation of the ThinkNow Audiences model and data collection process.

Roy Eduardo Kokoyachuk | Co-Founder and Principal

Roy began working for Warner Bros. Media Research. In 2003, he became Vice President of Advertising Research at the full-service market research firm Garcia Research Assoc. He oversaw the company's foreign growth in 2005 by constructing and then operating a call center for market research in Tijuana, Mexico. He oversaw the company's foray into internet research after being appointed EVP in 2006. He spearheaded the establishment of CadaCabeza, the first opt-in panel of Hispanic Americans to be nationally representative, in 2009. By emphasizing the recruitment of Spanish-speaking Hispanics in addition to the English speakers usually present on online panels, this panel set a new standard in panel creation. In order to further pursue his passion for creating consumer research solutions, he co-founded ThinkNow Research in 2010.

"We've found that by using market research to expose cultural bias and stereotypes, we help brands and companies connect and communicate more effectively with both existing and potential customers."