The final result is in and already the vultures are circling over the record of the pollsters in the US election. Is this another nail in the coffin of opinion polls, another Brexit moment or something more profound? I believe there are three important lessons for market researchers and one more profound lesson for everyone.
Archive for the 'market research' Category
Is customer loyalty a myth? While loyalty research and customer relationship management have grown, clear evidence that customer loyalty drives commercial success is difficult to find. And as the world and businesses become more short-term in their thinking, is it time to reevaluate the reality of “loyalty”?
It is now clear that the human brain is immensely complex and interconnected with much of its work unknowable and mysterious. This is hard for us to accept as individuals, including myself, and continues to be hard for the market research industry to accept.too Perhaps that is why very little fundamental change has occurred.
While there have been great leaps in the technological interfaces used to collect data from research participants (and hurray that 2014 finally appeared to be the year that mobile data collection really took off), the fundamental processes have not undergone the radical changes that they need. Read more »
Many market researchers lack the ability to integrate information, fail to connect research results with business outcomes and have not learnt the skill of turning complex data into clear narratives. The lack of these skills means that senior business leaders don’t take us seriously enough.
Reading Research Live’s interview with Steve Phillips (see here) prompted me to think again about the future of market research, and more specifically about customised quantitative research which is the backbone of the majority of global research agencies. Along with two other website’s Zappistore might hold the key to part of the future of market research. Read more »
Yesterday’s MRSS Asia Research Conference focused on the the coming changes in market research and particularly the role of big data. Interestingly, many of the papers came back to the same Vs (sometimes 3, 4 or 5 of them) to evaluate the strengths and weaknesses of big data. Read more »
In the latest issue of Research, Gill Wales writes about the standard of market research reports and it’s depressing reading (link here). The article, ‘Will this do?’, cites examples of where market research companies fail to deliver value and suggests that the problem is endemic. I agree based on what I see in my work, and it’s a topic that has come up frequently in this blog (for example in “Show me the money” and “5 questions every innovative researcher needs to ask”. Read more »
Curiosity has it’s own reasons (Einstein)
The lifeblood of market research is curiosity and curiosity is a great thing in all aspects of life (as Einstein said so eloquently on several occasions). Market researchers are very adept (and trained) to ask lots of questions, but I think we ask far too many and should ask far fewer and be smarter in the way we design research in order to do that. Let me be clear from the start. Asking questions in market research is very often at best a waste of time, and at worst positively misleading. Read more »
What will the entry of Google into market research mean for the industry?
Google Consumer Surveys is a deceptively simple product. Limited questions, simple (and low) pricing, and the promise of focused customer feedback. Other DIY tools such as Survey Monkey (which I use regularly), have not yet gained strong traction, perhaps because they lack the access to consumers that is an important part of an agency’s service. Read more »
The future of questions
Everyone likes to make predictions as one year closes and another begins with fresh hopes, although fewer go back to check what they said previously (with some notable exceptions). Rather than make predictions, most of which are guaranteed not to happen, I would like to share a hope for how market research can reinvent itself for the future. In sharing my hope I can also share some of the changes that I believe will happen at some time in the near future (I would never be confident enough to say that it will be in 2012).
My big wish is that market research can start to get beyond its obsession with questions. Read more »