Nearly four years later, the results of the 2016 U.S. presidential election are still shocking. Polls showed Hillary Clinton with a significant lead over Donald Trump, almost guaranteeing the win and appointment of America’s first female president. Victory parties were planned. Fist bumps and high fives were going around. But the polls were wrong. Across the pond, polls got it wrong again in the UK with the Brexit referendum. It seemed that those tasked with gauging public sentiment couldn’t seem to find it’s pulse. However, the “USC/L.A. Times Daybreak Tracking Poll” got it right. This was one of a few Polls that predicted Trump had a lead over Hillary.
“As long as there have been campfires, humans have gathered around them and conveyed their view of the world through the use of stories.” Geoffrey Berwind nailed it. Storytelling has long since been hailed by content marketers as one of the most effective ways to capture the time and attention of prospects. Stories are powerful connectors. When told or written masterfully, they ignite the imagination and spark curiosity. But why are we talking about storytelling here in the context of market research? It’s simple. As it turns out, the way traditional market research has been reported for the last 50 years has been all wrong. That’s a bold statement, but sadly true. You’ve been there, trapped in a dim boardroom, eyes glazing over, walking through a presentation deck 100+ slides deep chock full of charts and graphs. The facts are reported, but you have to wonder just how much understanding clients walk away with.
This year was chock-full of defining moments. From ongoing trade disputes with China and political unrest, to legalized marijuana and online privacy concerns. In our final report of the year, 2019 Defining Moments: Insights Into Culture and Authenticity™, we highlight trends in consumer sentiment, purchase behavior, and digital media use, and explore the impact culture has on these trends. We’ve combined these insights into a brief narrative of Total Market consumer behavior over the last twelve months and marketing predictions for 2020.
In July of 2019, Illinois became the 11th state to allow the adult use of recreational marijuana. Its state legislature is the first to legalize selling the drug. Marijuana remains illegal at the federal level, for now. But that hasn’t stopped blue-chip consumer packaged goods (CPG) companies from exploring cannabis-based products as many believe that federal legalization in the U.S. is only a few votes away.
U.S .Hispanics make up about 17% of the NBA fan base, according to the NBA Latin America. That’s roughly 15 million Hispanic basketball fans poised to enact significant influence over one of the country’s most revered sports. Several factors about this thriving demographic make it an attractive target for the League. U.S. Hispanics are younger, concentrated in urban areas, and have been integral to the evolution of popular cultural cornerstones such as hip-hop, which help shape the NBA brand we love today. Hispanic population defined by its youth.
Cyber security continues to be one of the biggest threats impacting modern society, as most of our day to day experiences are played out virtually. We are hyperconnected through smart devices that have reshaped culture and transformed how we live and work. From online wallets to social media, smart speakers to drones, as consumers, we have served up a virtual smorgasbord of data points for hackers to prey on. Companies amassing these data points are especially at risk as they are the keepers of purchase behavior, transaction history, financial information, and more.
In a perfect world, we would have the best information available at our fingertips when making decisions. But, that’s often not the case. While information is more accessible now than at any other time in history, it’s not always the right information. Missing or bad information could mean big mistakes when developing or measuring marketing campaigns. So, to mitigate the risk of missing the mark, many companies explore custom market research. But, accurate, actionable custom research requires knowledge, experience, and dedicated personnel to complete.
The term “Latinx” is trending and has seen a steady uptick in search over the past two years, peaking in 2019: It is during this “Latinx apex” that we decided to take a closer look at how popular the term “Latinx” really is among U.S. Hispanics and if it has staying power. Defining Latinx So what is Latinx? According to Merriam-Webster: Latinx was originally formed in the early aughts as a word for those of Latin American descent who do not identify as being of the male or female gender or who simply don’t want to be identified by gender. More than likely, there was little consideration for how it was supposed to be pronounced when it was created.
Technology is driving growth across industries, creating space for unconventional ideas and technological innovations that infiltrate traditional models and disrupt the status quo. Companies unable to pivot find themselves in the fight of their lives. Peer to peer ride-sharing services such as Uber and Lyft, for example, have wounded the taxi industry, and entertainment streaming services, like Netflix and Hulu are slowly sending linear TV to an early grave.
Brand strategists are tasked with knowing when to include market research in the scope of agency work for clients and with pushing back on the inevitable biases that arise in the agency when collecting and analyzing that data. Cognitive biases, the collection of faulty ways of thinking hardwired into the human brain, permeate almost every aspect of our lives. From anchoring to zero-risk, humans live and work with various types of cognitive biases that can impair judgment and stall progress, both personally and professionally.