Editor's note: Wale Omiyale is senior vice president of market research at Oslo, Norway-based research technology firm Confirmit.
Standing as a century-old industry, marketing research has a proud history of building rock-solid methodologies. Generally speaking, market researchers have had a tendency to cling to the established way of doing things – often for good reason and occasionally for less-good reasons. Over the years, as new technology and innovations evolved, many viewed them with suspicion, fearing that their established practices would be challenged and usurped. Today, the landscape continues changing and the challenge in establishing how market researchers can adapt to be successful in the future world of marketing research remains. The best approach is to be proactive, not reactive. By embracing a few tips and best practices for the future, market researchers can become agents of change in an insight-driven world.
1. Embrace the flood of data. Data remains at the core of research yet the sheer volume of data in the world has increased exponentially in recent years. How the industry exploits data forms the foundation for the success of research in the future. Not only must businesses make the best use of the evolving technologies to better understand data but they need to develop the skills of their teams to incorporate data science. With the influx of data from multiple sources faster than ever before comes the focus on developing actionable insight and strategic advice. Marketing researchers have caught up to this trend and many now avoid the label and instead refer to themselves as consultants or advisors. Data remains core to what they do but they are the pioneers who understand that the future lies not in methodologies but in delivering business value.
2. Approach data collaboratively. It is more important than ever to take a collaborative approach with other business disciplines to deliver a comprehensive understanding of all the data we generate and ensure that it can be digested, manipulated and acted upon more quickly in order to drive strategic change. To be successful in the future, researchers must break down silos and work collaboratively to drive meaningful change. With the advancements in automation, inter-departmental working and collaboration becomes even more critical. While some suggest automation will end people-based business, the truth is that automation thrives off cross-functional collaboration, both across survey teams and with external partners.
3. Capitalize on social listening. Social listening is a rich source of insight, if data can be handled effectively, and the research industry must learn how to do just that. There are approximately 2 billion social media accounts including timelines on Twitter, YouTube and Facebook. These have become digital documents of experiences over time. They use algorithms to automate shares, tags and tweets, serving up micro-moments so users can focus on enjoying and discussing what they find meaningful in those streams of thoughts, pictures and videos. Social listening can give brands the language that their customers use so organizations can match their campaigns to people’s demands. Businesses can now analyze unsolicited feedback without manually monitoring review sites, discussion forums or blogs. Most companies know these analyses are important but don’t have the skills or expertise to do them. This is a big opportunity for marketing researchers to harness their data skills to capitalize on the power of social listening and deliver value.
4. Uncover quality insights, faster. For years, researchers have been under pressure to uncover quality insights faster and at lower costs. That demand will continue and with major advancements in automation, marketing research organizations can make strides in this area. The first step for many researchers is overcoming their concerns about the accuracy, quality and integrity of data delivered via automation. Technology continues maturing and the industry has seen several more clearly-defined solutions introduced to the market, many of which are successfully delivering consistency, accuracy and speed. In a world of increasing automation, the topic of self-serve becomes increasingly popular, meaning running a survey program with as much automation as possible. For researchers moving toward a self-serve model in 2018 and beyond, it’s important to remember that it does not eliminate the need for thorough, in-depth research programs. Instead, think of it as a new layer that sits on top of extensive insight and analysis. Also, remember to embrace a fluid approach. IT process automation – and technology in general – is always changing, so keep an open mind and make changes when necessary. Automation tests exactly what you tell it to, so be sure to incorporate manual testing as well to guarantee a complete and comprehensive assessment.
5. Hire for the future. With the prevalence of automation, administrative tasks are now being handled by technology. As a result, it’s imperative for researchers to evolve their roles and daily tasks and for marketing research organizations to hire for the right skills to complement the new reality. Many of the best research teams are evolving into specialist hubs, where researchers become data scientists and reports become strategic business guidance. There is also a need for more broadly-skilled project managers, where in-depth subject knowledge is less important but an understanding of the research process is crucial. It’s critical to build your teams with the right skill sets needed to advance the delivery of high-quality insights.
Despite the extensive history and sound methodologies of the marketing research industry, change is inevitable. But there is no reason to fear it. Researchers have the tools and skills to be successful in the future. By embracing the flood of data, collaborating to drive meaningful change, adopting new technologies and hiring for the right traits, they can deliver valuable insights and propel the industry forward.