What is your view on the status and future of the market research industry?
We are witnessing exciting times in our industry. Digital technologies are transforming research capabilities at an increasing pace, budgetary constraints are creating a ‘necessity is the source of creativity’ context, classic boundaries between marketing service providers are blurring increasingly, continued globalization is putting extra pressure on demonstrating local relevance, researchers are more than ever challenged to prove real business impact and the research world needs to learn how to adjust its story to empowered and marketing savvy consumers. Quite a list of challenges, no?
You are the one who will decide what the future will look like. In order to really understand where our industry is heading, we need to listen to and learn from clients, vendors and competitors. That is why we are in full support of initiatives such as the 2013 GreenBook Research Industry Trends (GRIT) survey. If you can spare a few minutes and are directly or indirectly touched by marketing insights, fill in the survey and share your thoughts on the current status and future of our business. It is also your opportunity to vote for the industry’s most innovative firms, helping to determine the new GRIT Top 50. Only with the support of marketing and insights professionals like you, we can continue to yield insights into how research buyers and providers are adapting to the evolving landscape.
For what it’s worth, here is our estimated guess of where the future will take us. We expect researchers of the future to be ‘fishing the river’ much more than today by making use of behavioral data, managing ongoing consumer connections via research communities, tapping into natural communities and scraping conversations, pictures and videos from the web. We believe the industry can move up on the ‘research-based consultancy’ ladder, representing the voice of the consumer at the client side more continuously, reserving a seat for research (Chief Consumer Officer) in the boardroom. We expect a much stronger focus on efficiency, integration and impact. It will be interesting to see whether new business models will arise as a result of this, e.g. making fees for our work dependent on the impact we generate for clients. We think research can play a far bigger role within organizations, positively impacting or disrupting the hearts, minds and actions of all employees by uniting them around consumers. And who knows, research might even become the ultimate vehicle to grow and spread brand enthusiasm?
Hope to see you take part in this unique global survey and keen to learn from the results on how to embrace the future!