Hide Notes 

Slide 1: Trends Impacting Market Research
Slide 2: Agenda • Current Trends – – – – Data is Dead The Ways We Communicate & Connect Have Evolved Traditional Advertising is Crumbling Emergence of Web 3.0 • Impact On Research – Embracing New Tools • • • • Listening Asking Questions Observing Behavior Identifying Motivations/Anticipating Needs • • Moving Forward: Campos & CivicScience Key Takeaways 1
Slide 3: Current Trends
Slide 4: Current Trends: The Death of Data • Current economic situation has led to loss of jobs and income • Traditional data models are unraveling, and our basic assumptions are no longer true: People will be employed and live their lives in an upward trajectory. • Researchers must accept this reality and adapt to emerging forms of data collection and analysis 4
Slide 5: Current Trends: The Ways We Communicate & Connect Have Evolved • 1970s…phone (landline) and fax • 1980s...phone (landline), fax and cell phones • 1990s...phone (landline), fax, cell phones, the internet and email • 2000s…smart phone and internet Credit: 5
Slide 6: Current Trends: The Ways We Communicate & Connect Have Evolved • Today there are ― 1.6 billion online ― 4.4 billion mobile phone subscribers • There will be ― 5.8 billion mobile subscribers worldwide by 2013 Credit: Internet World Stats 6/09, Portio Research 8/09 6
Slide 7: Current Trends: The Ways We Communicate & Connect Have Evolved • Social Networking sites • LinkedIn • Facebook • Twitter • Photo & videosharing sites • Flickr • YouTube • Online Communities and Forums 7 • Chat Rooms • Blogs • Instant Messaging • Text Messaging & Multi-media Messaging Services • Smart phones
Slide 8: Current Trends: The Ways We Communicate & Connect Have Evolved There is a Powerful Shift in Purchase Behavior: The Consumer is the New Marketer Customized Individualized Recommendations 8
Slide 9: Current Trends: Traditional Advertising is Crumbling • Traditional advertising as a one-way communication from an untrusted source has little/no credibility and is not perceived as “authentic” • Reviews are the “new” advertising and have tremendous impact on purchase decisions - offer more credibility – Peer Reviews: posted/written by personal acquaintances or “twinsumers” – Expert Reviews: posted/written by field experts that are unpaid – Influencer Reviews: posted/written by people admired by consumers 9
Slide 10: Current Trends: Traditional Advertising is Crumbling Word of Mouth is the Most Trusted Source 10
Slide 11: Current Trends: Emergence of Web 3.0 • Marriage of artificial and human intelligence (semantic web) • Computers becoming more intuitive and categorizing information with “meaning” • Virtual shopping/virtual lifestyles • Ever-present Web/constantly updated information in real time 11
Slide 12: The Impact on Research
Slide 13: Impact on Research: Embracing New Tools • Since communication methods are constantly evolving, so must researchers – Embracing the benefits while understanding the concerns of Social Media is crucial Pros: • • • • • Data collection in real time Democratization of content More focus on context Data leaves a trail Preferred communication channels for younger age groups • Opportunity for market research to be more widely accepted and appreciated by the masses • Behavioral psychographic longitudinal profiling Credit: Alert! July 2009 Cons: • Managing large amounts of data/content • Need for controls to ensure proper collection and analysis • Authenticity of respondents/samples • Must remain constantly abreast of new technology 13
Slide 14: Impact on Research: Embracing New Tools • While what we as researchers do remains the same, how we do it has changed and will continue to advance – – – – – Listening Asking Questions Observing Behavior Identifying Motivations Anticipating Needs 14
Slide 15: Impact on Research: Embracing New Tools Listening = Monitoring • From periodic studies to research in real time/all the time – Identify trends, opinions, issues – Constant learning about target audience – Enables addressing suggestions and concerns immediately 15
Slide 16: Impact on Research: Embracing New Tools Tools • Blog search tools • Blog results aggregators • Community, forum discussion and review site monitoring • Twitter monitoring • Multi-platform monitoring • Subscription-based all-platform monitoring/aggregators 16
Slide 17: Impact on Research: Embracing New Tools 17
Slide 18: Impact on Research: Embracing New Tools Asking questions = Engaging in Conversations • From moment-in-time surveys to engagement – – – – – Creating forums for open conversations Using widgets to gain insight Building relationships to garner deeper knowledge Reaching respondents anywhere (mobile research) Real-time conversations between client & consumer, researcher and respondent 18
Slide 19: Impact on Research: Embracing New Tools Tools • Chat rooms and communities - participation, creation • Brand micro-sites and “private label” social applications, tool usage, subscription-based community-building tools • Wikis • Web-based - Widgets - Online communities - Intelligent / fun / interactive polls and surveys 19
Slide 20: Impact on Research: Embracing New Tools 20
Slide 21: Impact on Research: Embracing New Tools Observing Behavior • From one way mirrors to multi-media conversations – Allowing consumers to be creative while sharing rich, multi-dimensional feedback-incorporating music, video, images and animation – Reaching respondents in their world using their tools – Allow clients to “view” online real-time behavior 21
Slide 22: Impact on Research: Embracing New Tools Tools • Mobile livecasting • Lifecasting • Photos, videos • Music • Game sharing, games on social networks 22
Slide 23: Impact on Research: Embracing New Tools 23
Slide 24: Impact on Research: Embracing New Tools Identifying motivations & anticipating needs • Expert analysis is still the only way to learn and form actionable understandings of the consumer and marketplace • The reality will be more “data” than we know what to do with • Need for new algorithms, language analytics and data interpretations • Need for innovative teams: research leaders, savvy thinkers, sociologists, psychologists, designers, pop culture specialists, etc. 24
Slide 25: Moving Forward: Campos & CivicScience
Slide 26: Moving Forward: Campos & CivicScience Software Company Panel Company Research Expertise Automated Insights • “Smarter” way to gather data • More psychographic insight into your consumer • Know your panel 26
Slide 27: Building Insight: Campos & CivicScience Intelligent Web Polls & Widgets Online Custom Panels 27 Social Media Applications
Slide 28: Key Takeaways
Slide 29: Key Takeaways 1. Purchase behavior/decision making has shifted to a new powerful peer-to-peer model Researchers need to “plug in” to the conversations (researching in real time) Experience & understanding of research fundamentals can not be replaced by technology Convergence of mobile/smart phones & internet will lead to mobile research Clients need to listen to the Voice of the Consumer on an ongoing 29 2. 3. 4. 5.
Slide 30: Key Takeaways 6. Consumer and communication methods are changing rapidly; annual research projects will no longer reflect the consumers Research will become more creative & imaginative, embracing multi-media learning and expanding teams to go beyond traditional researchers Concerns about data quality will continue, but can be addressed in research models Better and smarter analytical and data tools will allow for more efficient, effective research findings 30 7. 8. 9.
Slide 31: Thank You Credits: Eva Rebek, Chris Maher, Shelley Shaw