As technology continues to evolve and improve, how we live our lives is also constantly changing. And because we live in a consumer-orientated society, new technologies are assuming a greater role in how we buy and consume goods and services, creating a new paradigm in the process.

In the “old days,” long before the internet and smartphones, the yellow pages, TV ads, and print media were the standard means by which consumers learned about products, but today’s tech-savvy consumers do their own research in a series of “micro-moments” that work in a circular process. Successful brands that understand these micro-moments and how they relate to their consumers are poised for even greater success as smartphones improve and wi-fi continues to expand.

The term “micro-moment” was first coined in a 2011 e-book written by Jim Lecinski and published by Google, titled, Winning in the Zero Moment of Truth. The book

When 95% of new products fail, there are no excuses for guessing what your customers want. In times of financial turmoil, businesses and consumers are more modest when spending. And as brands reassess budgets in light of economic hardship, many may look to how they can optimize their insight solution.

But there are two things brands must have in mind when re-evaluating their budgets.

Firstly, insight is invaluable. More so than ever as customers are shying away from spending. Living in these liquid times, it’s never been so crucial to understand why, how, and what your target audience is shopping for.

Secondly, research doesn’t need to break the bank. It should make you money in the long run. According to this Forbes article, ‘to fully understand customer practices, attitudes, and sentiments, and gain inspiration for innovation and marketing, it pays to conduct qualitative and quantitative research.’

So how can