November 6, 2023
Eyes4Research
Over the past two decades, e-commerce has evolved from a novel concept to a dominant force in retail, reshaping how consumers shop and businesses operate. The seamless integration of technology with commercial transactions has propelled e-commerce to new heights, marking a shift in how goods and services are bought and sold.
The Retail Evolution
E-commerce has evolved thanks to technological advancements, consumer preferences, and a shift in shopping behaviors. It began with basic online transactions that allowed users to purchase goods. However, over time, it transcended mere transactions, embracing user experience, personalization, and omnichannel strategies. From mobile commerce to the emergence of AI-driven recommendations and virtual reality shopping experiences, the journey has been revolutionary.
Understanding Retail Consumer Behavior
In this digital realm, understanding consumer behavior is pivotal for success. Custom online panels have emerged as a powerful tool for businesses to gain real-time insights directly from their target audience. These panels enable companies to create tailor-made surveys, conduct in-depth market research, and collect feedback from specific demographics, providing invaluable data to steer their business strategies.
The Impact of Custom Online Panels in Understanding the Market
Custom online panels, like the ones created and managed by Eyes4Research, offer a direct line to the pulse of the market. By engaging with a custom panel, businesses can obtain nuanced, detailed insights about consumer preferences, purchasing behaviors, and trends. Tailoring surveys and research specifically to a brand’s unique requirements allows for deeper, more targeted analyses, resulting in actionable insights that drive business growth.
These panels are not just about collecting data, but about understanding the consumer psyche, anticipating their needs, and aligning products and services accordingly. In addition, with the flexibility to conduct surveys at scale and with precision, custom online panels offer a cost-effective means to access critical market insights.
As e-commerce continues to shape the retail landscape, leveraging custom online panels becomes not just an advantage but a necessity. Understanding consumers and their ever-evolving needs is the key to thriving in the retail market. Eyes4Research creates and manages custom online panels that give our clients the ability to adapt, evolve, and understand consumer behavior, setting them apart from their competition.
Read more about the retail industry and consumer behavior on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
October 30, 2023
Eyes4Research
We are in an era dominated by data, and it’s clear that the business landscape has undergone a transformation. B2C and B2B companies that harness the power of data are not just surviving; they’re thriving. However, not every B2C or B2B business is equipped to navigate this data-first economy successfully. To ensure your business remains relevant and prosperous, adapting to the charging times and leveraging the invaluable insights data provides is essential.
Why Data Matters
Data is the lifeblood of the modern business world. It’s the key to understanding customer behavior, market trends, and even your own business operations. With data at your fingertips, you can make informed decisions, streamline processes, and develop strategies that resonate with your target audience. But the question isn’t whether data matters; it’s whether your business is utilizing it to its full potential.
The Data-Driven Advantage
B2C and B2B businesses that embrace a data-first approach are witnessing substantial benefits. These businesses can personalize customer experiences, optimize marketing campaigns, and stay ahead of competitors. Data also allows for a deeper understanding of consumer preferences, enabling companies to tailor their products and services accordingly.
Why You Shouldn’t Ignore Data
On the flip side, B2C and B2B companies that neglect data are at risk of falling behind their competitors. They might be making decisions based on guessing rather than facts, missing out on opportunities, and failing to address customer needs effectively. In the data-first economy, this approach can be detrimental.
Why You Should Leverage Custom Online Panels
One effective way to ensure your business thrives in this data-first economy is to utilize custom online panels. Custom online panels, such as the panels created and managed by Eyes4Research, are a valuable resource for gaining specific insights and information from your target audience. These panels are tailored to your unique business needs and help you collect data that is relevant to your industry and goals.
Here are just a few of the benefits of using custom online panels:
Businesses that embrace the data-first economy are poised for success, while those that ignore this shift may find it increasingly challenging to compete. To ensure your business remains ahead of the curve, consider partnering with an experienced data collection agency like Eyes4Research so you can harness the power of custom online panels for your business.
Read more about the relationship between market research and the business landscape on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
August 7, 2023
Eyes4Research
The technology landscape is evolving fast, but one facet that has shown remarkable potential is AI. From self-driving cars to personalized recommendations, the influence of AI has permeated various industries, including music.
Here are the ways that AI is playing a role in both creating and curating music, unveiling an exciting collaboration between human creativity and technological innovation.
AI has proven its mettle as a music creator, capable of composing melodies, harmonies, and even entire musical pieces. Leveraging deep learning algorithms and vast music databases, AI systems analyze patterns, genres, and styles to generate compositions that rival human creations.
They learn from existing music, continually refining their abilities, and pushing boundaries beyond human imagination.
Rather than replacing human musicians, AI acts as a collaborative partner, sparking new ideas and expanding creative horizons. AI facilitates experimentation by providing musicians with novel patterns, melodies, and arrangements, unlocking previously unexplored artistic territory.
The age of streaming platforms has witnessed an overabundance of music choices and AI-powered recommendation engines have become indispensable. Analyzing user preferences, listening patterns, and even emotional responses, AI algorithms curate personalized playlists, ensuring a seamless musical journey for each listener.
AI personalizes music recommendations and aids in music curation for various platforms. Whether it’s curating background music for videos, arranging playlists for radio stations, or selecting tracks for themed events, AI offers unparalleled efficiency and accuracy, ensuring the right music reaches the right audience.
AI-driven music creation and curation have opened doors for diverse musical genres and artists. In exploring underrepresented musical styles and promoting emerging talents, AI plays a crucial role in fostering inclusivity and preserving cultural heritage.
As AI gains prominence in the music industry, ethical concerns arise. Questions about copyright, intellectual property, and the potential loss of human creativity warrant thoughtful consideration and responsible implementation of AI technologies.
AI enriches the musical experience for listeners, empowers artists with innovative tools, and expands the boundaries of creativity. As the use of AI becomes more commonplace, is essential to embrace the possibilities of collaboration between creativity and technology in a way that recognizes ethical concerns as well as how this technology can move the music industry forward.
Read more about technology and the entertainment industry on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
July 24, 2023
Eyes4Research
Currently, actors under the SAG-AFTRA union are on strike, which means not promoting their movie at events, appearing in any new roles, and many other things. But what are the specifics under their restrictions, why are they striking, and how does it connect to AI?
What is SAG-AFTRA?
SAG-AFTRA is a labor union that represents actors and general media professionals, helping them negotiate for better wages and working conditions in the event that they are unreasonable/unlawful. Not just big name millionaire actors, but small actors trying to break into the industry often find it beneficial to join unions for the reasons stated, and boycotting for higher wages benefits them more than it does the Matt Damons and Tom Cruises of the industry. The union was born in a merger of two established unions, the Screen Actors Guild (1933-2012) and the American Federation of Television and Radio Artists (1937-2012). SAG-AFTRA currently has upwards of 100,000 members.
Events Leading up to the Strike
Last month, under the conditions that their negotiating committee would not reach an agreement on their new contract with powerful Hollywood studios, SAG-AFTRA voted to go on strike. In late June, upwards of a thousand actors signed a letter threatening to strike, including A-listers like Rami Malek and Meryl Streep.
Negotiations that the union proposed to AMPTP (the Alliance of Motion Picture and Television Producers) included limiting the use of self-tape auditions (due to potential bias towards better camera and audio quality amongst audition participants) and issuing residuals for streaming viewership.
On July 14, the union announced at a press conference its decision to go on strike after their agreements were not met, following the laying out of details of the strike. This would be the first strike involving actors in the television and film industry since 1980.
AI in Film
One of the issues discussed in the strike was the use of AI-replicated digital likenesses of actors. A portion of the statement that SAG-AFTRA made depicting AMPTP’s stance on the issue (which the latter denies) is as follows, “We want to be able to scan a background performer’s image, pay them for a half a day’s labor, and then use an individual’s likeness for any purpose forever without their consent”. This caused outrage among many actors on social media, as the issue of appropriate payment for especially lower-ranking actors is one that has existed for a long time. Most entry-level actors don’t make nearly enough from one role to live off of, so many have to fit auditions, headshots, and other things in between one or two jobs.
This hit a nerve with a lot of people likely as a result of the increased use of AI in movies and TV shows, like the de-aging of some actors and the AI generated artwork in the opening title sequence in Marvel’s new show, “Secret Wars”. The ethical issue regarding AI art is a similar one, as many artists feel their art is being stolen from search engines to create this art, and some artists who do commissions express concern over the possibility of losing customers who want custom art commissioned. The attitudes of digital artists and actors are similar enough, both parties wanting to get full credit and payment for work they create.
Terms of the Strike
The terms of the strike that SAG-AFTRA proposed included actors not being able to promote their projects at film festivals or events, on social media, do interviews, and attend premieres. So pretty much any public promotion of films or shows from the actors is off the table.
Even promotional collaborations posted on social media have a disclaimer in their posts “filmed before the strike”. So, for however long this strike lasts, don’t expect to see any newly recorded media interviews with your favorite actors.
About the author:
Akili Raphael is a third-year student at DePaul University. He’s also an author and published his first book when he was only 10 years old. He is well versed in media topics such as animation, filmmaking, and is active in the online video game and sports communities. In his free time, he keeps his overflowing creativity in check by writing, creating art in various mediums, making short films, and practicing martial arts. Always interested in learning new things and sharing ideas, he considers himself a student of life above all else.
May 30, 2023
Eyes4Research
The population of pet owners in the U.S. is younger and more connected than ever. This shift is changing the way veterinary care is managed.
According to a generational study by the American Pet Products Association (APPA), Millennials are the largest pet-owning segment in the U.S., representing 32% of all pet-owning households. This audience is considered digitally native and is more likely to view their pets as ‘part of the family’ than older generations.
Because they are digital natives, Millennials are more comfortable going online to learn about pet products than previous generations. The same APPA study revealed that 62% of Millennial pet owners increased the number of online pet product purchases they made over the last year, with over half of those respondents stating that they plan to increase online purchases with home delivery over the next year. This shift indicates that these habits are here to stay.
Before the pandemic sent most audiences online for their shopping, there were signs indicating that increased digital spending by pet owners was already underway. Millennials especially love having pet products shipped directly to their homes– they (and even older Gen Z pet owners) have embraced auto-ship and subscription models for pet products.
E-commerce and Pet Medications
This preference for online shopping is also impacting the market for pet medications, especially for medications that comprise the majority of prescription spending, like preventatives, parasiticides, and medications for chronic disease management. Many Millennial pet owners are buying medications from their veterinarians’ websites rather than in person from their practices. Others are turning to third-party online retailers.
While this change in behavior was challenging for veterinarian practices that had to adapt during the pandemic, the shift to online medication purchasing was offset by the increase in demand for pet medications. It is predicted that this trend will continue, with analysts estimating that the share of pet products purchased online will grow, reaching 30% of the overall pet medication market by 2025.
A large percentage of medications, especially preventatives and those that are used to treat chronic conditions will require refills. This means that consumers will continue to embrace the ease of home delivery as well as shop around for the best price, which is easier to do from the comfort of home. This follows the larger transformation in e-commerce that has occurred in other categories, like groceries and apparel.
How E-Commerce Has Impacted Veterinary Practices?
The migration toward online shopping for pet products has transformed how some veterinary practices are managed, including how inventory is managed and even the mix of products and services that they offer. Some veterinarian clinics are carrying a more tightly edited inventory, only stocking products and medications that are needed for acute treatment situations.
Pet Owners Still Need Veterinarians
Regardless of how pet owners shop for and receive the products that they buy for their furry friends, veterinarians will still be at the center of the relationship between them and their pets. The APPA study reveals that almost 60% of pet owners reported relying on their veterinarians for pet health information and guidance.
To keep pace with the changing needs of their customers, veterinarians will need to adapt to an environment that is more digital, while also staying focused on pet health and wellness. More pet owners are now attending to the overall wellness of their pets and still turn to their veterinarians for advice. A study by Eyes4Research revealed that 61% of pet owners consider their veterinarian a key source of information on holistic pet care.
Veterinarians have the challenge of embracing new technologies in order to meet their customers where they’re at. But they also have the unique opportunity to elevate the quality of information they offer to them at the same time.
Eyes4Research has everything you need to collect high-quality insights from pet owners and veterinarians. Our panels are made up of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
May 11, 2023
Eyes4Research
Consumers probably think that they know exactly why they buy what they buy. The reality of how purchase decisions are made is more complicated, and research points to the idea that most decisions that humans make are the result of subconscious urges.
Consumers are creatures of habit and instinct, making decisions on gut feelings, not so much employing rational considerations. This intersection of human nature and economics is where behavioral economics comes into play.
What is behavioral economics?
Behavioral economics studies psychological factors’ effect on consumers’ economic decision-making. The goal of behavioral economics is to more clearly understand consumers’ decision-making and to try ad predict human behavior in different situations.
Consumer behavior can be influenced by things big and small, such as the political climate, or the amount of options someone has as they are deciding which product to buy.
How is behavioral economics used in marketing?
Behavioral economics studies how consumers’ purchasing decisions are influenced by factors that are seemingly unrelated to the product itself. These factors can be social, psychological, cognitive, or emotional.
Pair this with B2C marketing, whose core principle is to ensure that a consumer chooses one brand over another, and it becomes clear that behavioral economics aids B2C marketing strategies by understanding more about how consumer decisions can be influenced. As a result, making small changes to a product, the branding, and what choices a brand offers can have a huge influence on consumer behavior. Here are 5 examples of behavioral economics being used in B2C marketing:
Everyone Loves Free
There is probably no word in B2C marketing more powerful than ‘free’. It is for that reason that we often see ‘Buy one, get one free’, and not “Buy one, get one 50% off’. Consumers know that logically they are the same thing, but nothing beats the thrill of seeing the word ‘free’. A sandwich shop offering a ‘buy one, get one’ special on National Sandwich Day is an oft-used example of behavioral economics.
The Power of Social Proof
A more academic form of peer pressure, social proof is one of the most impactful tools in behavioral economics. It is defined as the tendency to be swayed by other people’s choices, especially in ambiguous circumstances.
Consumers are more likely to buy products that are popular to gain social standing with their peers, which explains why consumers read online reviews to gauge how trustworthy a company is. Most consumers trust a B2C brand with lots of positive reviews.
The Scarcity Illusion
Limited-edition products are a solid example of the power of scarcity in behavioral economics. Consumers will tend to place more value on a product if they think that there is only a limited amount available, or if there is a limited window of time available for them to buy the product before it becomes unavailable.
The grocery chain Trader Joe’s collection of seasonal, limited-availability products has a near cult following, with products often quickly selling out, with help from social media buzz.
Loss Aversion
Consumers are more afraid to lose something they have than gain something they didn’t have. It basically means that consumers will feel the regret of losing $20 more acutely than they feel the enjoyment of finding a $20 bill on the sidewalk.
The loss aversion principle sets out to describe what a consumer will lose by not making a purchase. ‘Lightning deals’ are an example of behavioral economics being employed in B2C marketing. These are discounted offers that last only for a very short period of time, encouraging consumers to make purchase decisions quickly, to avoid missing out.
Read more about consumer behavior on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
May 4, 2023
Eyes4Research
Environmentally-focused travelers have become more aware of the impact travel has on climate change, as well as on the places that they encounter on their trips. These are travelers who want to leave as light a footprint as possible on the planet while appreciating the cultures that they encounter.
A growing share of the traveling audience is making sustainability a part of their travel decision-making process. A recent poll by YouGov found that 53% of the global travel audience stated that they intend to search for sustainable travel options in 2023. The same poll revealed that 53% of consumers are willing to pay more for sustainable vacations. To this end, the tourism industry is evolving to better serve the travel audience’s desire for more mindful vacations by reviewing their impact and finding new ways to address their global footprint. Here are 4 ways the tourism industry is becoming more sustainable for the travel audience.
The backbone of the tourist industry, what is commonly called destination marketing organizations (DMOs), has become increasingly focused on not only attracting visitors but also encouraging the travel audience to engage in activities during their trips that will nurture the well-being of the communities that they visit.
Some tourist organizations are even renaming themselves to ‘destination stewardship organizations, to reflect this shift in purpose. Destinations are guiding their futures in a way that prioritizes sustainable and regenerative tourism. Tourism board websites are starting to offer the travel audience ideas for activities and trip ideas that embrace responsible and sustainable travel options.
It’s no secret that train travel is more environmentally friendly than traveling by plane. According to The Company of Biologists, trains emit about six times less GHG emissions than planes. More luxury travel companies are starting to weave train travel into their itineraries over airplanes.
Train travel offers advantages that planes simply can’t provide, such as no limit on baggage, as well as allowing the travel audience to more fully experience their journeys and enjoy the landscape while en route to their destinations.
The tourism industry finds itself both uniquely vulnerable to the effects of climate change as well as being one of the contributors to greenhouse gas emissions that have helped fuel global warming. Many tourism companies are signing on to initiatives like the Glascow Declaration, which requires a decade-long commitment from travel organizations to tackle tourism climate action. Similar initiatives address operational processes and reevaluating food supply chains.
The relatively new idea of slow travel, meaning staying longer in one destination, has seen an increased emphasis in the tourism industry. When travelers concentrate their explorations in one place for a longer period of time, it benefits both the environment as well as the traveler themselves. Staying in one or two central locations allows the traveler to develop a connection with the local people in a destination, instead of feeling as if they are just passing through.
Tourism companies are encouraging the traveling audience to visit fewer locations and to take day trips, instead of moving constantly moving around during their vacations. Travelers want to get the most out of the investments they have made for their trips and see as much as possible. But the decreased, more intentional movement also lightens the carbon footprint left behind.
Read more about the travel industry on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers in the travel audience. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
April 26, 2023
Eyes4Research
Brand trust is more important than ever. When a brand has cultivated trust with consumers, it allows them to retain customers and attract new ones. Nurturing brand trust gives a company a competitive advantage and without it, consumers are less likely to buy, regardless of what is being offered.
What is Brand Trust?
Brand trust is the measure of how confident consumers are in a business. Can a consumer count on the information a company provides? Will the customer service always be of the highest quality? Questions around brand trust are a key part of the purchase decision-making process for consumers. How well a company delivers on the answers to questions like these, and how well brands live up to the image projected by their branding are key drivers in establishing brand trust.
Why Brand Trust is Important
Brand trust is essential in helping companies stand out from the competition. If there are two companies that offer two products that are nearly identical, the company with the reputation for stellar customer service and higher quality products will be the one that comes out on top. Consumers want to be able to count on quality products and do not like having to wait on hold for hours to get a problem solved. They will pay a premium for products that last and for brands that they trust.
How a Company Cultivate Brand Trust
It’s essential to know exactly what customers like and dislike about a product as well as knowing what competitors in the same space are doing. Having a 360-degree view of customers’ needs and wants and brand positioning is an important part of building brand trust. Market research, in the form of online surveys, interviews, and panels helps companies gather the data they need to start cultivating brand trust with their customers.
Experienced market research agencies like Eyes4Research have the tools companies need to gather insights from consumers. Eyes4Research can help brands find the right sample and write surveys to yield the highest quality data. By being armed with consumer insights and best practices on how to build brand trust, companies can make better decisions.
Consumers are likely to keep buying products that work the way they are supposed to and they are also likely to spread the word about it, too. Products that do not perform as they should will lead to disillusioned consumers, who will likely never buy from that brand again. In order to offer the highest quality products and services, brands need to know what functions consumers want, how best to serve them, and be able to anticipate what unmet needs might exist in the future. Market research provides companies with the insights they need to meet the needs of their customers.
A company’s relationship with its customers is one of the factors in building brand trust and determining whether a customer becomes a loyal, repeat buyer. Market research helps brands build strong, long-lasting relationships with their consumers by giving them the data that tells them exactly what their customers need and want. When brands make their customers feel like they are important, they are more willing to be an advocate for that brand.
Read more about branding on the Eyes4Research blog. Eyes4Research also has everything brands need to build trust with their customers by collecting high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
April 25, 2023
Eyes4Research
Even before the pandemic, the B2B space, much like its B2C counterpart, relied on e-commerce strategies. Dealing with the fallout of COVID-19 put the spotlight on e-commerce experiences during the B2B sales process. There are several trends that are driving the changing face of B2B e-commerce that companies should be aware of to help them capitalize on e-commerce growth opportunities.
B2C companies have implemented e-commerce customer personalization for some time. It’s now time for B2B merchants to catch up. A recent McKinsey & Company study found that B2B buyers are looking for more personalized buying experiences and would be willing to move their business in order to get it.
Relationships are the foundation of personalized buying journeys and the messaging targeted to customers should stretch from end to end. If B2B companies can create seamless, tailored interactions with their customers, they stand a much better chance of cementing loyalty from their audience.
Learning more about what B2B customers want is critical to refining the process of personalizing the buying process. Market research can help brands gather data on exactly what their target B2B audience wants. Insight solution agencies like Eyes4Research are essential for B2B merchants who need to know what their audience expects and can then tailor their buying journey accordingly. The data gathered through research can help B2B companies better track their customers’ social media engagement and their buying habits in order to better predict what will capture their attention.
Omnichannel is another area that B2C companies have successfully explored, but B2B merchants are starting to take notice. B2B buyers are encountering an increasing number of touchpoints, and according to the McKinsey study mentioned above, they want even more. B2B companies need to ensure that their consumers have positive, integrated experiences on every channel they encounter.
In the B2B industry, consumer touchpoints often include mobile apps, websites, social media platforms, and marketplaces. And these consumers expect a seamless and connected experience between all of the channels. If a customer interacts with an app or website before engaging with a sales representative, they will expect the sales rep to be aware of that previous engagement with the app. Knowing this can help provide important details that can draw in the customer with an enticing offer.
The shift to e-commerce models that happened during the pandemic has given rise to an increased interest in marketplaces. B2B companies have started to adopt the marketplaces that B2C merchants have traditionally used. Companies of all sizes can use marketplaces to reach potential customers, but B2B companies are most likely to select specific marketplace models.
Some B2B companies have chosen to use third-party marketplaces like Amazon. Third-party marketplaces are often less expensive and easier to use for B2B merchants than trying to create an independent platform from the ground up.
Social commerce is another area where B2C companies have already found success in reaching their target audiences. It is a space that is poised to offer a level of growth for B2B companies as well. According to Gartner, 46% of B2B consumers use social media when researching buying decisions, so the target audience is already there. B2B merchants should embrace social media to reach these consumers and engage with them.
But social media isn’t just a place for B2B companies to engage with their audience. It’s also its own marketplace. Companies can build a store right on the apps, giving their customers opportunities to make their purchases without having to leave the app. Selling directly on social media is part of the more significant trend toward, fast, convenient, and personalized service, regardless of the channel.
Omnichannel marketing and social commerce offer new opportunities for B2B e-commerce businesses to engage with their target audiences in new areas. While personalized experiences will require the integration of new technology, it presents exciting new ways for B2B merchants to engage with their customers.
Read more about the B2B industry on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
4 B2B E-commerce Trends to Know Now
Even before the pandemic, the B2B space, much like its B2C counterpart, relied on e-commerce strategies. Dealing with the fallout of COVID-19 put the spotlight on e-commerce experiences during the B2B sales process. There are several trends that are driving the changing face of B2B e-commerce that companies should be aware of to help them capitalize on e-commerce growth opportunities.
B2C companies have implemented e-commerce customer personalization for some time. It’s now time for B2B merchants to catch up. A recent McKinsey & Company study found that B2B buyers are looking for more personalized buying experiences and would be willing to move their business in order to get it.
Relationships are the foundation of personalized buying journeys and the messaging targeted to customers should stretch from end to end. If B2B companies can create seamless, tailored interactions with their customers, they stand a much better chance of cementing loyalty from their audience.
Learning more about what B2B customers want is critical to refining the process of personalizing the buying process. Market research can help brands gather data on exactly what their target B2B audience wants. Insight solution agencies like Eyes4Research are essential for B2B merchants who need to know what their audience expects and can then tailor their buying journey accordingly. The data gathered through research can help B2B companies better track their customers’ social media engagement and their buying habits in order to better predict what will capture their attention.
Omnichannel is another area that B2C companies have successfully explored, but B2B merchants are starting to take notice. B2B buyers are encountering an increasing number of touchpoints, and according to the McKinsey study mentioned above, they want even more. B2B companies need to ensure that their consumers have positive, integrated experiences on every channel they encounter.
In the B2B industry, consumer touchpoints often include mobile apps, websites, social media platforms, and marketplaces. And these consumers expect a seamless and connected experience between all of the channels. If a customer interacts with an app or website before engaging with a sales representative, they will expect the sales rep to be aware of that previous engagement with the app. Knowing this can help provide important details that can draw in the customer with an enticing offer.
The shift to e-commerce models that happened during the pandemic has given rise to an increased interest in marketplaces. B2B companies have started to adopt the marketplaces that B2C merchants have traditionally used. Companies of all sizes can use marketplaces to reach potential customers, but B2B companies are most likely to select specific marketplace models.
Some B2B companies have chosen to use third-party marketplaces like Amazon. Third-party marketplaces are often less expensive and easier to use for B2B merchants than trying to create an independent platform from the ground up.
Social commerce is another area where B2C companies have already found success in reaching their target audiences. It is a space that is poised to offer a level of growth for B2B companies as well. According to Gartner, 46% of B2B consumers use social media when researching buying decisions, so the target audience is already there. B2B merchants should embrace social media to reach these consumers and engage with them.
But social media isn’t just a place for B2B companies to engage with their audience. It’s also its own marketplace. Companies can build a store right on the apps, giving their customers opportunities to make their purchases without having to leave the app. Selling directly on social media is part of the more significant trend toward, fast, convenient, and personalized service, regardless of the channel.
Omnichannel marketing and social commerce offer new opportunities for B2B e-commerce businesses to engage with their target audiences in new areas. While personalized experiences will require the integration of new technology, it presents exciting new ways for B2B merchants to engage with their customers.
Read more about the B2B industry on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from consumers. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our specialty panels here.
April 20, 2023
Eyes4Research
With the recreational use of marijuana legalized in 21 states and counting, more and more people are choosing cannabis as a way to wind down over a cocktail or even a cigarette. A Harris poll released during the pandemic revealed that almost half of all cannabis users age 21 and up have replaced or reduced their alcohol consumption with cannabis. The same study also found that one-third of cannabis users prefer marijuana consumption to alcohol.
More recently, a CivicScience study found that while some people in the UK did observe Dry January at the beginning of this year, one-third of the youngest people surveyed, ages 21-24, simply replaced alcohol with cannabis and CBD products. While younger consumers wanted an alternative mood-altering substance, most older audiences have started to become more aware of the health benefits of cannabis as compared to the often detrimental effects of alcohol.
The long-term effects of alcohol consumption are well-known. Our bodies can effectively process alcohol, but too much can be harmful. But consuming cannabis in any form activates the body’s endocannabinoid system, which is a network of cell receptors that respond to both natural cannabinoids produced by the body and those found in the cannabis plant.
This system plays a role in moderating pain, regulating mood, and keeping the body balanced, in general. The body does not have natural ethanol receptors, so when someone consumes alcohol, the body responds to it as a toxic substance.
Among all the sources of ‘empty calories’, like candy and sugary drinks, alcohol is one of the primary offenders, almost always causing regular drinkers to gain weight. One night out drinking cocktails with friends can easily turn into thousands of calories. Cannabis, on the other hand, is calorie-free.
While a night out on the town might be fun, hangovers are not. The dreaded hangover is the body’s response to the toxicity of and withdrawal from alcohol. With cannabis, it can take a while to determine what the right products and dosages should be for each person, but it generally causes minimal side effects for most people who consume it.
Alcohol can often help people relax, but it is not really conducive to a good night’s sleep. It can interfere with natural rhythms and lead to disruptive sleep, while the body continues to metabolize the alcohol. Cannabis, especially products that are high in CBD, has the opposite effect, because, as stated earlier, it works with the body’s natural regulatory systems to promote relaxation and restful sleep.
Indulging in too much alcohol at once can be extremely dangerous, and even result in death from alcohol poisoning. Conversely, According to the National Institute on Drug Abuse, there has been no documented report of an adult death that has been caused solely by an excess of cannabis consumption.
Note: Eyes4Research is not promoting the use of either of these substances over the other, we are simply presenting the research findings and insights of consumers.
Read more about cannabis consumers and CBD products on the Eyes4Research blog. Eyes4Research also has everything you need to collect high-quality insights from cannabis users. Our panels are comprised of B2B, B2C, and specialty audiences ready to participate in your next research project. Learn more about our cannabis user panel and our other specialty panels here.