No News is Bad News

We’ve all heard the adage “no news is good news” but is it?

Not today.

If you’re not being discussed online, something’s up.  Whether it’s about your latest product, recently published research report, or company, or if it’s positive, neutral, or negative feedback you want to have your fair share of the social media pie.  If people are talking about you online then that means you can directly tap into what your customers (and potential customers) are saying about you – with no censorship.

Do It Yourself: Men and Women Motivated by Different Factors

FGI Research, in an effort to understand how homeowners are saving money this year, conducted an independent study on the subject of DIY projects.  Social media sites are full of information about how to do everything from simple at-home repairs to large DIY upgrades. American consumers reported that using social media sites greatly increased their ability to do DIY projects.  The social media sites they use most frequently include Facebook (29%), YouTube (24%), and personal blogs (15%).

Economic Downturn Causes Uptick in DIY

Of people who do DIY projects regularly, 28% report doing more DIY projects now than they did 12 months ago. The frequency of people doing DIY projects is not only increasing because of the educational opportunities on the internet, but also because of the downturn in the economy.  In fact, 33% of DIYers said that they do more DIY projects specifically because of the down economy.  Furthermore, 58% of people who do DIY regularly said that part of their motivation is expense.

What do Women Want?

According to a new book from BCG’s Michael Silverstein, the earning and purchasing power of women is poised to explode over the next five years. Globally, women’s total earned income is projected to increase by $5 trillion, to $18 trillion, by 2014. That’s an increase of almost 40%.

To put it in perspective, the worldwide increase in women’s income will be greater than the economic expansion of China and India combined during the same period. Along with this spike in earning power, women will continue to drive spending across major categories. In the United States, women control almost three quarters (72%) of all dollars spent. So, all of this earning and purchasing power clearly begs the question “what do these women want?!?” Recent research provides some very actionable answers and advice:

The Effects of Order Bias on Price Elasticity Measurement

In a recent survey, FGI measured the potential price impact of including recycled content in a paper product that had not previously been available with this content.  The intent was to measure the degree to which there was a change in respondents’ expectations of price based on this alternative content.

Traditionally, surveys are designed to present price options on a basic scale, without methodological regard to the order in which the price deltas are presented to the respondents.  In this survey, a random half of the respondents were presented the pricing variation choices from low-to-high (i.e. 30% less to 30% more), and the other half were presented the price variations in the opposite order (30% more to 30% less).

Cash for Clunkers Aids Auto Makers

Using innovative mining techniques, FGI has been scanning social media sites to unearth consumer insight in a variety of subjects. Michael Jackson’s recent death dominated the discussion, understandably. But FGI also found out this month that social media sites are abuzz with consumer talk about the “Cash for Clunkers” program. Even then, the frequency with which social media users talked about the term depended on demographics. Middle-aged people and Hispanics were less likely to be aware of the program, whereas other groups showed greater interest.

Google Trends: “Cash for Clunkers” is “Volcanic”

“Cash for Clunkers,” for those who are unfamiliar, is a government stimulus program that promises incentivies to trade in an inefficient “clunker” for a new, more fuel-efficient vehicle. News about and discussions involving this term have had a huge impact on social media. FGI Research noticed an enormous spike in blog traffic surrounding the subject, and Google Trends rated the term “Cash for Clunkers” as “Volcanic,” meaning it earned the top spot on their most-frequently-searched list.  Although this trend is spreading rapidly on the internet, the ...