Richard Thornton recently published a list of 5 emerging trends that can’t be ignored in the Market Research industry:
New tech has significantly evolved the market research industry in the last five years. Although parts of the MR industry are still notoriously slow to adapt, technology is driving research technique changes at a break-neck speed. Here are five of the likely changes that will define the next decade of MR:
- Geo-IP triggered event-based surveys. This is an ample, currently available opportunity that is still largely untapped. Beacon-based, real-time surveys allow researchers to target a mobile population while they are in the moment and ask them questions relevant to what they are experiencing, live. The additional benefit of using mobile devices with geo-IP tracking is that it allows for passive data collection on consumers and the ability to micro-segment their consumer profiles. Looking to grab the attention of a younger respondent? This research method hold great potential for capturing audiences that have already left Facebook, Twitter and other platforms behind.
- In-app feedback. The opportunity to integrate your surveys into existing apps, and ask questions related to that app’s consumer experience, is huge. Mobile users now spend 86% of their time in apps rather than web browsers – it’ll be essential for researchers to further immerse themselves into this evolving environment. The best in-app surveys truly adapt to their native apps – making a seamlessly skinned extension of the consumer experience in the specific app. Consider also the growing revenue opportunities of in-app surveys as they offer the ability to drive large research transaction levels.
- ‘Appification’ of research. Notice a pattern developing here? So do we. Researchers who are delving into in-app research are already encouraged by early results and there is a growing segment of clients who are app-savvy and already looking for in-app research solutions. Some organzations already use oversimplified survey software to create their own simple questionnaires, but it’ll be up to the most agile market research agencies to best tap into the in-app survey experience for the more research-intelligent clients.
- Sample automation and optimization. Exchange-based automation and optimization for sample buyers/sellers is already growing in the Market Research industry, with little touch needed for ordering and delivering online samples. Sometime in the next decade, expect further standardisation around the definitions and terminology from a coding and API infrastructure perspective. Once that’s done, expect this practice to boom.
- Data synthesis. Integrating and harnessing surveys with pre-existing client data assets and big data sources can create a well-rounded view of consumer behavior. Big data and countless analytics channels caught MR a little offguard over the last decade, with initial excitement leading quickly to the feeling of being totally overwhelmed with raw data and no logical data ‘story’. Combining Voice of the Customer (VoC) survey results with more passive forms of data collection is what creates the all-important story; effective storytelling resonates most with audiences. The next decade will see the right combination of technologies and skills adopted by adept researchers, which will refine the data story into a more workable form.
So now the question comes back to you, fellow researchers: Are you ready for the future? If you’re not – we can help get you on the right path towards becoming an early adopter of some of these emerging trends. An agile agency is an agency that will give their clients a reason to use them.