Consumer trend analysis tools, or software and other methods used to collect and analyze consumer data, help firms understand the changing needs, expectations, and values of customers. They enable companies to anticipate demand for certain products and services and detect important changes in purchasing behavior—changes that may come to affect entire industries. Trend analysis tools are also useful for identifying influencers and tribes that are setting trends in a specific market and uncovering negative sentiment about a brand, person, product, or other topics relevant to an organization’s marketing and PR teams.
Examples of and use cases for trend analysis tools
Tools used to collect data for trend analysis include traditional market research methods such as surveys and focus groups as well as convenient digital tools—web analytics, social listening, and social analytics tools. By helping organizations better understand the impact of new consumer interests and habits on an industry, trend analysis tools can be used to inform product research and development, customer care and support channels, and a wide range of marketing efforts including product positioning, campaign strategy, and content creation.
Social media-based trend analysis tools
Brands that want to detect the latest trending topics faster will want to leverage social media-based trend analysis tools. These tools are used to collect and analyze relevant mentions on social channels, which may include Facebook, Twitter, or other niche social networking services as well as blogs and discussion forums. By obtaining and analyzing social media data directly from consumers who are willing to share their honest thoughts and opinions, social media listening platforms can offer you a window into the mind of the consumers. This provides you with insight into consumers’ perception of your brand, your products, and the priorities and concerns influencing their purchasing decisions.
AI-fueled trend analysis tools
For time-strapped teams in competitive markets and organizations that want to take trend analysis to the next level, robust social media intelligence tools like Synthesio’s Social Intelligence Suite offer AI-powered trend analysis tools that reduce your time to insight. These tools can capture and analyze large volumes of data from billions of conversations happening on the social web. Smart trend analysis tools show you the keywords, themes, trending topics, and viral media that are most relevant to your brand and your business. With social intelligence tools, you can spend less time searching for meaningful information and more time using the insights surfaced to optimize your products, messaging, and marketing initiatives.
Signals: Automated, intelligent trend analysis from the leaders in social listening
Powered by state-of-the-art data science algorithms, Synthesio Signals is a trend detection and insights module that automatically surfaces the shifts in interest, peaks in engagement, viral memes and videos, and other online trends your teams should be aware of. Leveraging Ipsos’s decades of data science and statistics experience, Signals is a social media trend analysis tool that shows you the statistically relevant events and patterns your business can’t afford to miss. Offering you in-depth reports for each trend, Signals doesn’t just detect up-and-coming trends but provides you with context—helping you understand not just what people are raving about but also where, when, and why.
The three types of trends most relevant to brands are social, consumer, and industry. Social trends represent large-scale changes in human behavior or trends affecting the majority of society. These might be referred to as megatrends and can be used to describe how the overall social landscape is evolving over time. Consumer trends, on the other hand, are driven by the values, preferences, and needs of individual consumers. Industry trends represent the ways that companies react to social and consumer trends, or new products, services, and ways of operating that result from brands responding to trends in their environment.
What are some uses for trend analysis?Carmen Yeung2020-02-12T11:20:01-05:00
Brands use trend analysis to better understand their customers, predict demand for a specific product or service, detect shifts in consumer sentiment and perception of value, inform product development and marketing efforts, anticipate change in an industry, and most importantly, capitalize on changes occurring in the marketplace. Trend analysis helps firms identify critical opportunities to engage consumers and lead the market.
Why is it important to differentiate between trends and fads?Carmen Yeung2020-02-12T11:20:09-05:00
Both trends and fads are useful for brands but mistaking a fad for a trend could result in a loss of credibility and making poor investment decisions on the part of an organization. Fads are helpful for creating interesting social media campaigns and short-term ad campaigns while trends can be used to inform an organization’s long-term marketing approach and product development efforts.