Recap: The Future of Consumer Intelligence 2014

Imagine a line drawn in the sand that is filled with hot burning coals. To the left of the burning line stands a group of people. And to the right of the burning line stands another group of people. The group of people on the left are all directly facing the burning line drawn in the sand and are staring at the opposing group. The group on the right are also all facing the burning line drawn in the sand, staring directly at the group on the left.

The burning line drawn in the sand represents trust. The group of people on the left believe they are entitled to the right group’s trust because they are trying to help them. The group on the right believes trust is earned and will not easily give it to the group on the left. The tug of war between the two groups over trust causes friction and creates the burning line drawn in the sand that neither can cross without the right tools.

The above scenario is analogous to what was presented at the recent 2014 Future of Consumer Intelligence conference (#FOCI14). The group to the left was Big Business, the group to the right was the Public and we as attendees were willing and able to sit right on the burning line drawn in the sand and discuss how to bridge the gap between groups.

BIG DATA VS. BIG PRIVACY

As marketers and researchers we love to collect lots of data with the intention of using personal information to improve products, services, and lives. But at what point is it considered invasion of privacy? Do consumers really know how their data is being used, regardless of whatever they agreed to? At FOCI14 it was made evident that as marketers and researchers, we teeter on the brink of “Empowerment vs. Endagerment”. The path to maintaining the balance and bridging the gap on the subject of data between Big Business and the Public was made evident: provide clear, concise rules and guidelines for how consumer data is used that moves past legality and into the territory of morality.

MARKETING SCIENCE VS. PEOPLE

Clearly our industry is at a point of disruptive innovation as new technologies and methodologies allow researchers to get a clearer picture of consumer insights. But who are behind all of these insights? That’s right, people. In our industry we label people as consumers, customers, shoppers, respondents, target markets and more. But remember that behind all of our studies are people. And sometimes we can act as a barricade between companies, their brands, and their consumers in an attempt to remain unbiased and objective. So how do we bridge the gap?

For starters, John Havens, Founder of The H(app)athon Project, suggests we can begin by switching out the label “consumer” with “customer”. Whereas Elizabeth Merrick, Senior Customer Insights Manager of HSN suggests we consider research as another touch point of the brand, “We should allow customers to contribute to a brand, not just consume it.”

So it appears the segue between marketing science and people is essentially personal treatment and recognizing that customers are more than a data point within a spreadsheet.

From John Havens, The H(app)athon Project

TECHNOLOGY VS. HUMANIZATION OF DATA

The more I thought about it, FOCI14’s tagline of The Convergence of Technology, Marketing Science & Humanization of Data seemed unintentionally (or perhaps intentionally) dichotomous where both Big Business and the Public were descending upon the line is drawn in the sand. So it goes with technology & humanization.

There is no doubt that technology improves lives at blistering speeds. Ray Kurzweil, Director of Engineering for Google pointed out that, “Information Technology expands exponentially across time, not linearly.” But as we become more technologically advanced, do we lose a piece of our humanity and our identity?

As we discussed more and more about the subjects of technological advances, psychological habits, triggers, and touch points at FOCI14, it seemed the key to closing the gap between technology & humanization of data relied upon engagement. If new technologies enable to us to engage with customers in a more meaningful way and people are able to build stronger psychological connections with each other, then the gap is bridged. If on the other hand, the research community were to stand disengaged with customers and people, then technology & humanization in the field will stand diametrically opposed on a bridge that is about to collapse.

So the real question in all of this is, “Has your organization bridged the line drawn in the sand?”

Tom Krause, VP of Client Services, Gongos Research
"It's all about people"

Chris Ruby is an award-winning Marketing Research & Consumer Insights Executive with Fortune 500 consulting experience. His niche is the ability to turn complex data into compelling stories that induce a call for action among key decision-makers. His work has been featured by MRA, MRIA, IIR, Norstat Times, Chadwick Martin Bailey & the Optimization Group. Keep up with Chris Ruby by following him on Twitter @ChrisRubyMRX or by reading the Chris Ruby Market Research Blog.

The Endless Possibilities of Mobile Market Research

It's a camera. A microphone. An audio recorder. A video recorder. A phone. A web browser. A typewriter. A gaming system. A GPS system. A two-way audio device. An e-reader. And an instant messenger. What is it? Why a mobile device of course. And it is like a mini-focus group facility all in the palm of your hand.

For some odd reason, I really never thought of a mobile device in that capacity before. Until, I recently attended a research event that featured a Mobile Market Research Panel who brought this fact to light.

Since that moment, the capabilities and possibilities of Mobile Market Research have endlessly wandered in my mind. For instance, imagine a demographically and geographically prescreened customer approaches a retail store to do some shopping and ding...their mobile device presents an opportunity to participate in a real-time survey based on the store they are about to enter.

Remember, the mobile device is GPS enabled so when the customer accepts, their movement throughout the retail store will be tracked. As they proceed with their shopping experience, going down aisle per aisle, the customer can not only participate in a real time survey, but also record their experience in both audio and video format. And, take pictures of their experience along the way.

Therefore in theory, everything that would be part of the customer experience is fair game in Mobile Market Research. That would include product display, shelving, store format, parking lots, restrooms, employees, checkout and more. All collected in both quantitative and qualitative real time with no excuses.

This is only one mere example of what can be accomplished with Mobile Market Research. Some say Mobile Market Research is the next big thing. However, with up to 25% of respondents already using mobile devices to participate in market research, it appears Mobile Market Research is not the next big thing. It has in fact already arrived.

Chris Ruby is an award-winning Marketing Research & Consumer Insights Executive with Fortune 500 consulting experience. His niche is the ability to turn complex data into compelling stories that induce a call for action among key decision-makers. His work has been featured by MRA, MRIA, IIR, Norstat Times, Chadwick Martin Bailey & the Optimization Group. Keep up with Chris Ruby by following him on Twitter @ChrisRubyMRX or by reading the Chris Ruby Market Research Blog.

Do-It-Yourself Research is on the Rise

Roe vs. Wade, Gun Control, Immigration & Capital Punishment. 

It wasn’t that long ago where a simple conversation about Do-It-Yourself Online Research (DIYOR) among the Market Research community felt like a heated debate with the same intensity of the aforementioned topics.

For all intents and purposes, let’s not debate the pro/cons and the validity/invalidity of DIYOR within this space. These topics and arguments are already well documented and discussed. Instead, let’s take a look at the industry’s past, present and future.

DIYOR began in the late 1990’s and moved past the introduction stage of the product life cycle in the late 2000’s. Its current fragmentation of companies resembles the fragmented Market Research Industry where a handful of major players are accompanied by a majority of smaller companies.

DIY Research is in the growth stage of the product life cycle

The DIYOR Industry, as well as the NewMR Industry in which it is a subset, is presently within the growth stage of the product life cycle as revenues are increasing year over year.  Some suggest the industry is cannibalizing Traditional Research. However, relatively recent worldwide sales figures suggest that NewMR is supplementing Traditional Research, not cannibalizing it.

Some of the major players in the DIYOR market are beginning to behave as if operating within the maturity stage of the product life cycle and are buying competitors, forming partnerships and extending product lines. This behavior seems relatively quick as only a few years have passed since the industry outgrew the introduction stage.  Though, perhaps the move to maturity for some isn’t so quick after all since first and foremost DIYOR companies are technology companies that exist in an ever-changing market.

In terms of present offerings, two key factors have yet to normalize in the DIYOR market: Service & Price.

Service and Research Design in the market range from truly unaided services to aided / self-guided services. DIYOR vendors in the unaided market provide the technology for customers to field quantitative and qualitative studies, but do not assist the questionnaire design process and provide the results of the survey as raw data without data analysis services.  Whereas aided / self-guided companies provide a full suite of self-guided questionnaire design templates as well as data analysis applications. For an extra fee, some aided / self-guided companies can provide an experienced researcher to help design customers’ quantitative and qualitative projects. And of course, there are DIYOR companies that exist somewhere between both ends of the spectrum.

Both services and prices widely vary in the DIY Research market

The relative price of service in the DIYOR market increases or decreases relative to the amount of service provided and overall price points display a fairly wide variance in the DIYOR market.  Charges range from free, to charging per respondent, to charging per month, to charging per year, to charging with sliding-scale credits, to charging for a basic user profile, to charging for an intermediate user profile, to charging for an advanced user profile, to charging for enterprise services, etc., etc. Get the picture?

It's going to be a challenge for consumers to truly evaluate all the different price points, at all the different offerings, for all the different users, at all the different levels of service.  Without a doubt, the rising DIYOR industry is in need of a solid pricing study that will ultimately optimize and ease consumers' purchasing decisions.

So what lies in store for the DIYOR industry? My humble prediction is within the next 5 years, larger full-suite, self-guided DIYOR companies will continue to purchase smaller DIYOR companies that display attractive technology and operate within a niche of the market, in order to add to their portfolios of services. Customers by this time will have determined for themselves which product offering at particular price points makes the most sense.  This combination of vendor consolidation and educated pricing from a consumers point of view will ultimately streamline the DIYOR industry as a whole and normalize its product offerings and prices. 

In your opinion, where is the DIYOR industry heading in the next 5 years? Please comment below.

Chris Ruby is an award-winning Marketing Research & Consumer Insights Executive with Fortune 500 consulting experience. His niche is the ability to turn complex data into compelling stories that induce a call for action among key decision-makers. His work has been featured by MRA, MRIA, IIR, Norstat Times, Chadwick Martin Bailey & the Optimization Group. Keep up with Chris Ruby by following him on Twitter @ChrisRubyMRX or by reading the Chris Ruby Market Research Blog.