Skip to main content

The Future of Market Research

Market Research Trends[Note: this post was originally published on our sister site, ResearchAccess.com]

As anticipated, it was a fascinating and thought-provoking discussion yesterday in the Market Research Trends 2012 webinar.  There were over 40 people in attendance live, and there were many interesting questions submitted by the audience.

The discussion featured Lenny Murphy, editor of the GreenBook Blog, and Romi Mahajan, CMO of Metavana (Vivek Bhaskaran, CEO of Survey Analytics was not able to attend at the last minute).  The discussion was ably moderated by Ivana Taylor of DIY Marketers.

If  you weren't able to make the webinar, here's just a sampling of what you missed:

Gamification

Lenny said gamification is a challenge to the way market researchers currently think but that companies out the space are successfully employing game principles to their industries.   Romi said it's possible to do gamification very well or very badly.  Using a sweepstakes as an incentive to participate in a survey panel is an example of gamification done poorly.

Consumerization

Romi described consumerization as the tail wagging the dog.  Instead of companies mandating how their employees or customers will behave, now the process has been inverted, and the customers hold the power.  Lenny said consumers increasingly own their own data and will choose with whom to share it and on what terms.

Network Intelligence

Lenny described network intelligence as an opportunity to make predictive sense of the zetabytes of data available today.  Romi added it is an opportunity to stop thinking of your limited network, for example, your company's direct employees, and rather think about the networks to which they belong and how to start bringing that intelligence to bear.  He cited the involvement of 4 separate companies in the current webinar as a good example of leveraging network intelligence.

Social Monitoring

Romi described the geometric expansion in the amount of data available about brands, companies and individuals.  He painted the picture of a future where each of us has a brand equity ticker measuring the sentiment expressed about us on the web.  Lenny described social monitoring as a way to get to the great untapped pool of information proliferating online.

Panel Communities

Lenny described panel communities as the great compromise between the traditional online panel model and the highly interactive online community model. He described it as involving a greater investment on both sides - the research company and the consumer.  Romi urged looking at constant feedback instead of episodic interaction.

User Experience

Lenny said that since consumers have the power to choose where to go easily, a substandard user experience is no longer going to cut it.  He said that market research traditionally has not been designed with consumer experience in mind.  Romi underscored how easy it is for consumers to opt out and gave an example showing how user experience can be extremely powerful in either a negative or a positive way.

Moble Sampling and Ethnography

Lenny indicated that the impact of mobile cannot be overstated and that emerging markets are leapfrogging the PC experience entirely.  He said the app model structurally builds in consumer consent to share and receive information.  Romi said the greatest power of mobile - more than convenience - is that is allows us contact with the consumer in situ.

Q&A

The question-and-answer session was the best part of the event.  Don't miss it!


get-the-webinar-video-and-slides

//

Comments

Popular posts from this blog

Results of the Presidential Job Index Survey (week ending 7/1/2010)

Quick update on the results for the presidential job index survey for the week ending 7/1/2011. As a reminder this is a weekly survey that we conduct and we publish the results for the survey every Friday. To participate in this week's survey, please download the SurveySwipe application and take the survey.

Remember, you get points that you can redeem for various rewards when you take our surveys. We have already distributed several paid apps like Angry Birds for free.

Highlights

Almost 900 respondents took the survey.
52% vs 53% last week of the respondents approve of the job that President Obama is doing.
Respondents included 28% Democrats (31% last week), 25% Republicans (22% last week), 24% independents (27%) last week and 2% with the Green Party (3% last week).



You can view the reports here or directly on your phone.

Top 5 Infographics of the Week: Cyber Security

Earlier this week, we experienced a power outage with our data center at Internap. During this short period of time, our customers were unable to access the site. Luckily, it didn't last long and we are back up and running now thanks to our dedicated support team that responded quickly and worked diligently.

Cyber security is, and always has been, a very important issue for us as we continue to grow and meet the demands of a technology-driven society. Nothing is more paramount than the safety of your valuable data. And apparently we weren't the only ones affected, as LinkedIn was experiencing difficulties on the same day and Internap had 3 massive outages earlier this year. Check out these infographics with stats on the importance of cyber security and the impact it can have on small-medium sized businesses.

Top 5 Infographics of the Week: Internet of Things

In 2008, the number of things connected to the internet exceeded the number of people on Earth. By 2050, we are expected to surpass 50 million different devices connected to the internet. And we're not just talking smartphones and tablets - we mean everything. Wearable tech, household appliances, smart homes, public transportation, hospitals and even cattle have all been using sensors to transmit data automatically. It is an exciting yet scary time to be alive. The various interactions between these different entities are opening up doors for more apps, more software and more auxiliary services. With so many "things" connected online, the possibilities for information exchange becoming wider everyday. Check out the top 5 infographics to learn more about the IoT.