Consumer research consists of market research methods that help you uncover the wishes, attitudes and behaviour of your target market. It generates the information that you need to improve consumer perception of your product and create buyer personas and market segments, which help you successfully market your product to different types of customers.
Consumer research can include both quantitative and qualitative studies. Quantitative studies focus on demographics or statistics and often ask closed-ended questions that help your business generate numbers, averages and percentages. Qualitative studies, on the other hand, ask open-ended questions that let you collect ideas and anecdotes from your target market.
Exploratory research looks for insights from participants who are familiar with your product or the problem your product solves. This type of research gathers ideas and impressions from respondents in an open-ended format. These qualitative responses can’t be quantified (except with a word cloud), but they can set a direction for more consumer behaviour research.
Descriptive research gathers thoughts on your product from participants, so you can gain a clear and realistic understanding of the consumer perception of your business. This type of research collects both quantitative and qualitative data by asking multiple choice, rating scale, ranking or demographic questions alongside open-ended questions.
Correlational research looks at whether one variable in your study, such as age, correlates with another variable, such as how likely a participant is to purchase a product. It uses data from closed-ended questions to calculate the correlation coefficient between two variables. Your business can use correlational research to develop predictive models for consumer behaviour.
Experimental research looks at how changing an independent variable, such as price, affects a dependent variable, such as the purchase intention of a participant. This type of consumer research lets your business test specific research questions and get answers with quantitative results.
Your business can approach exploratory, descriptive, correlational and experimental research from a few different angles, which all have their own advantages.
New advances in consumer research make it easy for your business to conduct its own market research, without having to hire outside researchers to run studies. By using agile market research, your business can iterate studies and adapt to changing consumer preferences.
Respond quickly to market shifts by using agile research methods such as concept testing to monitor how consumers respond to ideas, products and messaging in the current moment.
So what should you ask your target market? Here are a few ideas that will give you a basic sense of who your potential customers are and how your business can reach them.
This question helps you uncover the best ways to advertise your product to your target market. When you filter the answers by demographic, it can also reveal the most effective ways to reach specific market segments.
This question gives you insight into what influences purchase intention and buying behaviour in your product category and helps you measure your brand against the competition.
This question helps you estimate potential demand for your product. The answers can help you identify segments of your target market that have high demand for your product and come up with ways to improve the efficiency of your supply chain.
Consumer research takes many different forms in practice. For example, a business might use consumer market research to:
Consumer market research methods vary, but the research process stays the same across most consumer research studies. All studies typically follow the same six-step process:
Step 1: Set an intention for your study
What do you want to know about your target market? Whether the scope of your study is very narrow or quite wide, setting a clear intention for your research will make the process a lot easier. If you can’t think of a specific intention, try running an exploratory study – such as an open-ended interview with a customer – to uncover interesting research topics.
Step 2: Gather input on your intention
Once you have a research topic in mind, tap existing sources of information before diving into your own research. Previous studies, business analytics and human resources can all add context and direction to your intention. These sources ground your study in previous experience and expertise and generate hypotheses that you can test with consumer research methods.
Step 3: Choose a research method and study design
Decide which research method best fits your research question. For example, if you want to build case studies and dive into “big picture” aspects of consumer behaviour, in-person interviews are often best. Surveys are a versatile way to tackle many different consumer behaviour research topics and often play a key role in other research methods such as focus groups and experiments.
Step 4: Run your study
To get accurate results from your consumer research, your study should include a representative sample of your target market that consists of participants from every demographic group in the market. For example, if you’re running an experiment at your business locations, the locations should be a representative geographic sample.
Step 5: Check out your results
Once you have a statistically significant number of responses from participants, you can start sifting through your results. Look for patterns in your data, and make sure you compare your real results with any hypotheses about consumer behaviour from the beginning of your study. There are a number of tools that can help you quickly identify insights in survey research data.
Step 6: Present your findings
What good is consumer research if it doesn’t inspire change at your business? Turn your results into accessible and actionable insights such as buyer personas and market segments, which can be distributed to anyone at your organisation. Tools like these help your business improve its products, create more convincing marketing materials and provide better customer service.
Are you ready to get started? Jump-start your consumer research with the customer behaviour survey template.