Lab42 helps small businesses leverage social media tools to complete market research. Built by entrepreneurs for entrepreneurs, Lab42 adds value to the tech start-up community by making market research accessible to everyone.
Lab42 is an innovative market research firm founded in August 2010. Incubator Sandbox Industries, which is an early stage venture capital firm and incubator in the West Loop, quickly discovered that fast, frequent and targeted market research was key to the success of its companies. But too often, market research runs in the tens of thousands of dollars, features uninformative responses or, worst of all, draws data from professional survey takers rather than the companys target market.
Businesses can fail because of poor market research, or they can market and pivot effectively with effective research. Sandbox Industries wanted to ensure that all of its companies had access to the kind of market research that would lead them to success, but it didnt existat least, not until Lab42 was born.
Lab42 believes that market research should be easy, inexpensive, and quick so that business of all sizes and stages can obtain consumer insights. Thats why Lab42 offers full-service research solutions by leveraging social networks to reach targeted markets. Lab42s unique survey platform employs applications within social networks, such as Facebook, to find survey respondents. As a result, they get fresh responses from specific market segments quickly and inexpensively. By drawing on a huge base of potential respondents, they can target the survey to a companys ideal market.