Kids Insights founder Nick Richardson on why it’s never been more important for toy firms to secure robust research
Nick Richardson is the founder of market intelligence specialist Kids Insights, one of Manchester’s fastest-growing tech businesses.
Kids Insights surveys 20,000 young people each year, with data available in reports released every 12 weeks, and current subscribers of Kids Insights data includes: DC Thomson, Egmont, Penguin Random House, SuperAwesome, Turner Broadcasting, Vivid, Walker Books, and several media agencies.
The firm also boasts an online portal that enables industry professionals to not only track and monitor the latest trends in real-time, but to also cross-reference and interrogate the data to their own specific needs.
We caught up with Richardson to find out more about the origins of Kids Insights, and why it’s never been more important for toy firms to secure robust research.
Where did the idea to launch Kids Insights come from?
The inspiration struck during a meeting with SuperAwesome, when we discussed a bespoke piece of work for them. As the discussion developed, it became apparent to me that the current market intelligence available in this sector was just not fit for purpose.
After a few months of research – speaking to key decision makers in organisations, researchers, developers and analysts that we worked with – we decided to launch Kids Insights with the objective of becoming the most comprehensive and dynamic market intelligence on all things kids, tweens and teens.
How can those in the toy and game space benefit from the services you offer?
Where to start! The reasons really vary from client to client. In the toy industry, some of our clients primarily use us to inform and quantify new product development, where others use it across their marketing function – from campaign development to brand performance.
It’s also used to inform brand licensing and merchandising strategy. That’s not to mention clients utilising the data to inform their content strategy, identify which YouTubers and influencers resonate most with their target audience as well as data to underpin buying decisions – be it TV shows or products.
With the toy landscape ever changing in recent times, have you seen more firms place a greater importance in your kind of research?
There’s always been a need for research, but over the last five years it’s become essential. I’d also suggest that it’s never been more important to ensure research is robust in terms of sample size and in its independence. As the market becomes more fragmented, complex and ever-changing, it’s more crucial than ever to have up-to-date insights providing businesses with clarity and confidence in an increasingly competitive environment.
If folks wanted to find out more, how can they get in touch?
Drop me an email to email@example.com or visit www.kidsinsights.co.uk and we be more than happy to organise a tailored insights session where we can showcase how our data and insights can be used as a competitive advantage.