To launch a regular series, BookBrunch talks to Nick Richardson, CEO of The Insights People, about the market intelligence in which the firm specialises
The Insights People is a market intelligence company specialising in producing, through its Kids Insights and Parents Insights services, the most comprehensive and dynamic insights available on kids, tweens, teens and parents. We spoke to CEO Nick Richardson about the sort of insights that The Insights People will be sharing with BookBrunch readers.
How do you collect your data?
We survey almost 2,000 kids and parents in the UK, US, France, Germany, Italy and Spain each week, and feed this data into our real-time portal, where our clients can analyse and interrogate it to help them with their business objectives. Our reports combine our own findings with information from additional sources to give an unparalleled insight into the attitudes, behaviour and consumption habits of kids and parents.
What kind of organisations do you work with?
We work with some of the biggest brands in the publishing world and beyond, such as the BBC, Disney, Egmont, Immediate Media, Ofcom, Oxford University Press, Walker Books and Warner Bros. We also work with creative and media agencies and industry bodies such as the Children’s Media Foundation and PACT, the trade association representing independent UK film and television companies.
How does your information help clients?
Our data helps clients in many different ways. For example, they use it to understand what media children are viewing, consuming and engaging with so they can shape their content and advertising strategies accordingly. We provide an understanding of the impact technology is having on how children are consuming content, what content they are viewing and engaging with, and what is resonating with specific audiences.
In terms of product design, being well informed about the market and target audience gives development teams a far better chance of success, especially at a time when one in eight new products fail.
Our data is often used by clients to identify properties and negotiate preferential terms when working on licensing and merchandising deals, and from a retail perspective the real-time data helps clients increase the number of products listed, boosting their market share.
Tell us about some of the trends you have discovered.
There are almost too many to mention! One that really stands out is identifying Fortnite as a trend as far back as September 2017. As far as I’m aware, we were the first research company to be talking about Fortnite, and now it’s absolutely everywhere. We were able to do the same with video sharing app TikTok, and in terms of upcoming trends, our data suggests a resurgence for Yo-Yos is just around the corner.
We also recently put together a special reading Trend Report to mark World Book Day 2019, and one of the key takeaways from that was that while reading remains a popular pastime for kids in the face of competition from Netflix and mobile apps, the way kids read is changing. Digital interactive books - books that utilise augmented reality and other technology to bring stories to life in new and exciting ways - have increased in popularity recently. They have seen a steady rise among four to nine-year-olds over the last three quarters, while interest in audiobooks surged in the opening months of 2019.
What’s next for The Insights People?
We’ve seen massive growth over the past 12 months, and that is continuing in 2019 - we’ve increased the size of the team and relocated to bigger offices as a result! From a product perspective, we recently expanded our surveys to include three-year-olds for the first time, and we’ve also began collecting data across four European countries - France, Germany, Italy and Spain. We’ve got plenty more exciting developments in the pipeline too, including expansion into new territories, so it’s shaping up to be another great year. We’re looking forward to writing regular columns for BookBrunch so we can share some of our data insights with your readers.
To learn more about The Insights People and for a complimentary copy of its reading Trend Report, please click here.