Coming Soon: Five Undeniable Market Research Trends

Downturns present the ideal opportunity to consider the future and to take a long-term view--particularly of your career.

Below are five key trends that will impact (if they have not already) the scope and role of market research within the coming years.

These trends are analogous, in our view, to the adoption and use of the Internet beginning in the late 1990s--powerful and transformational. 

1. MR Buyers Develop Ongoing Direct Customer Dialogues
To acquire ongoing and high quality insights, many buyers of market research will recruit and maintain their own customer-centric "research centers." These trusted participants will form the basis to develop ongoing relationships and penetrating insights into attitudes, behaviors, and the overall marketplace.

Enriching analyses, "premium" data elements (i.e., ad exposure history, online activity, purchase data, etc.) will likely be acquired from suppliers and integrated with the tactical collection of opinion data--minimizing customer workload while maximizing available insights.

In our view, the "research center" will likely become the primary basis for understanding the psychology of perception, influence, and satisfaction; it will also provide the insights necessary to evaluate new ideas, products, and markets.

2. Video-based One-on-Ones, In-Depth Interviews, and Focus Groups
With the exploding availability of web cameras, video messengers, and other emerging broadcast platforms, researchers will increasingly rely on video to acquire qualitative feedback. Providing convenient access to large pools of qualified people, video will actually be "better than being there."

Reducing inhibitions and eliminating the "intimidation effect," video is poised to provide more accurate insights while saving all time and travel expenses.

3. The Three Minute Survey
With plummeting cooperation and completion rates, the 30 minute survey will be replaced by the three (3) minute survey. Researchers who pepper participants with countless questions will be forced to the sidelines as their peers analyze opinion data integrated into datasets containing demographics, behaviors, and prior responses.

Importantly, shorter surveys hold the potential to resurrect telephone surveys and foster participation accepted across emerging platforms.

4. More Analysis, Less Project Management
The role of the typical market research professional will shift from project/task management to data analysis and interpretation. MR pros will need to become experts in analyzing consumer thoughts rather than managing specific research techniques. While earning higher levels of compensation, an understanding of psychology will become an essential ingredient for success.

5. Market Research Function Aligns with CTO/CIO
Given the exploding volumes of data and innovative technologies required to analyze it, the "traditional" market research function will be more closely alighted with the Chief Technology/Information Officer than the Chief Marketing Officer. Further fueling this transition will be the use of automated, continuous data collection activities for consumer needs assessment, brand tracking, customer satisfaction measurement, ideation, and the like.

Implications
During the slowdown, now may be the perfect time to plan or sharpen your skills. Specifically, you may want to:

1. Strive to understand what drives the customer--how they think, what the do, and the processes and models of each.
   
2. Build and sharpen your data analysis skills--particularly those involving large datasets such as time series, multi-variate analysis, etc.
   
3. Explore new technologies which can be adapted to both qualitative and quantitative research.
   
4. When designing your next questionnaire, identify the key questions you need to ask--and then ask yourself what you can do to shorten the survey or enhance the respondent experience.
   

 

Mike Carroll
800-872-5401
mcarroll@marketresearchcareers.com
www.marketresearchcareers.com