A LOOK INTO THE 2016 PRESIDENTIAL RACE

While America is still over a year away from electing its next President, it’s hard not to be deluged by the continual coverage of the Presidential candidates and their campaigns. With three Republican debates and one Democratic debate already under our belts, the team at Lab42 set out to gauge of how Americans feel about the election and candidates. Since the world of American politics can change so quickly, we will be running multiple Political Research snapshots leading up to the election in November 2016.

The goal of the first part of the series is to gauge interest in the election, the issues that are most important to voters, and which candidates are the top choices. To answer these questions, we surveyed 1,000 American adults (with demographics held constant to mirror the US census).

When asked about the top 3 issues that were deciding factors for a Presidential candidate, Jobs and the Economy topped the list with nearly 45% of respondents choosing this issue. Healthcare ranked second at 29%, and National Security rounded out the top 3 at 20%. These are followed by Education and Taxes tied at 19%, and Minimum Wage at 18%.

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ADVERTISING INNOVATION

Here at Lab42 we’ve been sharing the results of our innovation survey, looking at how important innovation is to consumers’ purchasing decisions and how innovative products – even grocery products – can command an innovative premium.  This month we look at the best way for brands to showcase their innovative prowess and new offers– both in terms of sales channel and message.

We found that’s it is vitally important for brands to tap into the power of reviews and recommendations. In this connected world 82% of our sample find online customer reviews influential, more so than professional reviews, at 74%. The study also found that over half of all consumers will look at a brand’s social media page and look up commercials and company information on YouTube prior to purchase, 57% and 53% respectively.

Innovation_Advertising_2-01

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LET’S GET VISUAL, VISUAL

At Lab42, everyone on the team is obsessed with data in some capacity. Whether it’s research data, sales data, or even analytics and website visitors, everyone has a vested interest in understanding data on multiple levels. While it is easier to understand data that we are personally working with, it’s more difficult to actually share this data with others (especially when we’re dealing with big data sets).

To help reduce the possibility of data confusion, we recommend using infographics to share data. Whether you need to share the data internally within your organization or with your clients, putting your data into infographic format enables the recipient to easily understand and digest the information you are trying to share. And even more, they’re much more likely to remember the information.

To demonstrate this, the team at Lab42 put together an infographic on the benefits of visual data. Check it out below, and if you’re interested in seeing more examples of our design and infographic work, you can check them out on our blog and our website.

Lab42-Infographic

THE ROOTS OF INNOVATION

Here at Lab42 we have been detailing the results of our innovation survey, which aimed to find out just how important innovation really is to the average consumer.

Our research has shown that people are willing to pay significantly more for products they feel are innovative, and that generating new ideas and listening to customers are seen as the main drivers. But where do consumers see this innovation coming from?

Silicon Valley was beaten, perhaps surprisingly, as the top US innovation spot by New York City. When asked which places consumers considered the most innovative, 27.4% said the Big Apple beating Silicon Valley into second place with 22.6%. Los Angeles was third at 14.5%, with Seattle and Chicago filling out the top five with 6.7% and 4.2%, respectively. Rather than just one dominant centre of innovation, consumers now see innovation coming from pockets across the country, which is good news for businesses without a coveted (and expensive) Silicon Valley ZIP code.

This shift from West to East might also speak to a surprising ambivalence to the role of technology in innovation we found in our survey. When asked if technology is the most important factor driving innovation, although 16.4% strongly agree and 26.6% agree, more than a third (34.3%) are neutral about its importance and 66.3% agree that a company can be innovative without technology. So as consumers are increasingly concluding that technology and innovation are not synonymous, brands will have to try more than technological showboating to set themselves apart.

Innovation_Location_Web

Interested in learning more about Lab42’s research methodology and how it stacks up against traditional panels? Check out our Research on Research.

THE DRIVERS OF INNOVATION

At Lab42, we understand the importance of innovation – we are innovators ourselves – but we wanted to know how important it was to the average consumer. What do consumers think makes a company innovative and how do they see the process of innovation?

As established in our post The Innovation Premium, consumers are willing to pay significantly more for products they feel are innovative. But how do consumers perceive innovation in a company?

The answer surprisingly, is not all about technology. Technology was the lowest driver in the perception of innovation, with 66.3% of consumers agreeing that a company can be innovative without technology. The most important element in perception of innovation for almost half of all consumers is ‘coming up with new ideas’, regardless of a technological component; an interesting finding for brands that might be trying to shoehorn modern digital technologies into their new products.

One of the key findings of the study, and most certainly a result of the modern way brands communicate with consumers, is that a third of our respondents cite ‘listening to consumers’ as a key driver for innovation. When coupled with the fact that 69% of respondents agree that research is required to create innovative products, it clearly shows the need for the modern marketing research discipline to be part of the innovation process.

Take a look at our Drivers of Innovation infographic to discover the full details of how your company can be perceived as an innovator.

The Drivers of Innovation

Interested in learning more about Lab42’s research methodology and how it stacks up against traditional panels? Check out our Research on Research.