Pinterest as Market Research

Pinterest as a place for sharing pictures, yes. But for Market Research? Well, yes.
If you don’t know Pinterest, it’s the hugely popular site that calls itself the online pinboard. It’s online social photo-sharing platform. Kaila Strong on Search Engine Watch astutely finds a number of ways to use it for market research. Calling market research social listening, a term I like very much, she says that knowing the kinds of images your customers like is helpful when developing products and putting together a marketing strategy. She looks into four areas where Pinterest can help you start your market research, following the direction of how Pinterest is set up. The site organizes “pins” into categories so a market researcher can look and see the most popular pins, the fonts that people like best, search in areas on the site where they want to launch their next product and see the latest, most popular pins in that area. There is also a gift section, where you can browse through what others (the competition) are doing. You can also see what terms people use to describe items on your current site. And finally you can scan the user boards to understand how your customers like to organize their information, using that insight to organize the navigation on your site. Lots of companies are still struggling with how to incorporate social networking into their sales and marketing strategies. But it is clear that companies can learn a lot about how their customers act based on their use of these sites. Pinterest for Market Research, pin that on your wall.

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Market Research Surveys Build Brand Loyalty

Firms build brand loyalty through market research according to a report by Cint, a market insight company. Of those surveyed nearly 62% said they were more likely to buy a particular product from a company if they were asked their opinion in a study. While some studies have shown people getting survey fatigue, Cint says the 1200 consumer polled felt more loyal to those brands who surveyed them.


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Global Sports Market is Up

With the Superbowl, an international sporting event, it’s interesting to see the growth of the Global Sports Market, according to NPD a leading market research company.

Their 2011 report suggests the worldwide sports market grew 4% in 2010. This is based on the sales of “ sports equipment, active apparel, and athletic footwear.” The main drivers of these numbers come from sales of running, hiking/walking, and football/soccer products.

These products, the market research report found, are more resistant to downward economic conditions than other industries. The Global Sports Estimate Report shows seven countries with sports market size exceeding 10 billion, those include the USA, Japan, Germany, China, France, UK and Italy.

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