Febelmar Happening on trends in the market research industry
Last week, we went to the 10th Febelmar (the Belgian Federation of Market Research Institutes) Happening. Location for this year’s event was the Surfhouse in Evere. One speaker on the agenda: Frits Spangenberg, President of ESOMAR.
During his 2 hour presentation he highlighted several trends. Here are 3 things I found important:
1/ Conducting market(ing) research is more important than ever, due to important changes in our contemporary society:
We are moving from a collective society to a more individually oriented one. Research is needed to understand the impact of it on consumer behavior and attitudes.
The lifecycle of products becomes shorter by the year. Companies need to innovate faster. So, more than ever, great consumer insights are needed on the fuzzy front end of the innovation cycle.
And last but not least, consumers are looking more and more for some kind of (ongoing) dialogue with companies. Internet makes it possible to create and maintain that kind of relationship with consumers/research participants.
2/ Research is moving from silo research to what we may call a more holistic approach. It is much richer to look at a research problem from different angles. Combining different research methodologies will become the standard in the near future.
3/ Gathering data should be the starting point for us analysts, not the end. Researchers don’t need to be afraid of consultants. They have to be consultants themselves. They even have THE tool to become the best ones… FACTS!
Definitely nice challenges to work (even more) on in the coming months and years!