Coolhunting can be defined as a market research methodology which is aimed at predicting future trends.
Cool hunters used to make use of overt methodologies like focus groups, and covert techniques like getting into a chat room and acting as a participant of the target market. This kind of research was more prevalent among teenagers because of their failure to respond to direct and targeted advertising among this demographic.
Now, cool hunters can use platforms like Angage.net to gather data points from the demographic their company is targeting, which makes their life easier!
What does a cool hunter do?
The popularity of the cool, cool hunting and trend forecasting increased rapidly due to the internet usage, which made it possible for everyone to access the images irrespective of where you are. Its appearance was no longer controlled by advertising agencies such as TVs and Magazines.
Marketers who used to decide the fashion trends found it challenging to cope with an uncontrollable deluge of messages, opinions, as well as the information consumers, were sharing. This led to the emergence of viral marketing, which was far better than word-of-mouth, and it made it extremely difficult for traditional marketers to thrive.
Importance of cool hunting and why companies are embracing it
Through cool hunting, businesses are in a position to reach out to prospective buyers and get to inform them more about their products.
This method is beneficial because the company can convey their message in spite of the failure of teenagers to respond to marketing campaigns directed to them. Cool hunters are very knowledgeable when choosing the most appropriate methods of gathering data and information.
Another reason why businesses are using cool hunting market research methodology is because of the presence of cool hunters who offer direct insight in terms of thoughts and feelings as well. Cool hunters are usually interested in getting what their target audience has to say, and that is why they use an invisible group to do the recordings. Cooling hunting allows marketers to interact with their target audience and are very keen in terms of their opinion.
The good thing with cool hunting is that it’s essential for all types of businesses may it be large, medium, and small businesses. Every business can use this methodology to reach out to its target audience since the cost involved is not so high. This is the reason why companies turned to this form of market research and abandoned traditional marketing strategies like word-of-mouth. The advantage of cool hunting is that it has broader coverage when compared to other market research methodologies.
Coolhunting usually requires a business to recruit cool hunters who are well trained and have adequate knowledge and experience when it comes to interacting with prospective buyers, especially teenagers. Now, it's also possible to use platforms like Angage.net, which gathers thousands on data points on new products and cross-references them with new trends.
Coolhunting enables a business to develop an in-depth understanding of what it needs to focus on to reach a significant number of its target audience which will then be converted to sales thereby leading to the success of the business.