Mria 2012 riding the change wave architecting market research for the future
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RIDING THE CHANGE WAVE: ARCHITECTING MARKET
RESEARCH FOR THE FUTURE
DRIVERS OF CHANGE
Market Research Suppliers
New competitors: Marketing Agencies,
BI Tech, DIY, SM
Client demands: ROI, Integration, Implications &
Outcomes
Consumers: Engagement,
Socialization, Fun, Rewards
Technology: SM, Mobile, Converged
Lifestyle
Economics: Cheaper, Faster, Better
Human Capital: Changing skill sets
THE MOBILE DRIVEN DATA ECONOMY
AN INDUSTRY IN TRANSITION
Traditional Business Model
for MR
• Data ponds• Methodological rigor• Objective Reporting• Low touch• Production models• Slow to adapt to technology• Process vs. People• Market focus
Transition Model
• Data Rivers• Methodologically curious• Narratives & Implications• High touch• Deep partnerships• Embracing technology• People vs. Process• Regional focus
Future Model
• Data Oceans• Methodologically agnostic• Narratives, Implications &
Outcomes• High touch• Integration with client orgs• Leading technology• People-driven • Glocal focus
Almost 60% of Client Research VPs expect major transformation by 2020*
70% of whom expect this to be evident by 2015
*38% among total respondents (N=160)Source: Cambiar Future of Research Study, 2011
DON’T TAKE MY WORD ON IT
WHAT EMERGING TECHNIQUES ARE BEING USED TODAY?
None of these
Gamification methods
Facial analysis
Biometric Response
Mobile Qualitative
Apps' based research
Crowdsourcing
Mobile Ethnography
Prediction Markets
Visualization Analytics
NeuroMarketing
Virtual Environments
Webcam-Based Interviews
Text Analytics
Mobile Surveys
Eye Tracking
Social Media Analytics
Online Communities
0% 5% 10% 15% 20% 25% 30% 35% 40%
31%
6%
6%
5%
13%
11%
8%
14%
10%
8%
4%
7%
19%
21%
24%
15%
27%
33%
28%
3%
4%
5%
5%
6%
7%
7%
7%
7%
11%
11%
12%
16%
17%
27%
30%
36%
Research buyer or client
Research provider or supplier
Note: Among research buyers (n=149) and research suppliers (n=669).
WHAT EMERGING RESEARCH TECHNIQUES WILL BE USED IN 2012?
Facial analysis
NeuroMarketing
Gamification methods
Biometric Response
Prediction Markets
Visualization Analytics
Crowdsourcing
Virtual Environments
Eye Tracking
Mobile Ethnography
Mobile Qualitative
Apps' based research
Webcam-Based Interviews
Text Analytics
Mobile Surveys
Social Media Analytics
Online Communities
0% 10% 20% 30% 40% 50% 60% 70%
13%
11%
25%
10%
21%
24%
24%
22%
21%
43%
46%
40%
46%
45%
64%
59%
64%
9%
11%
11%
13%
16%
17%
19%
23%
31%
31%
31%
32%
35%
43%
53%
66%
66%
Research buyer or client
Research provider or supplier
Note: Among research buyers (n=149) and research suppliers (n=669).
FOUR DISCIPLINES CHANGING MARKET RESEARCHBehavioral Economics
Predictive Analytics
Neuroscience
Text Analytics
“RESEARCHERS MUST MAKE THE JOURNEY TO BECOME CONSULTANTS. THE JOURNEY REQUIRES A SHIFT IN HOW
RESEARCHERS DEFINE THEIR PURPOSE, IN WHAT THEY PROVIDE THEIR CLIENTS, IN HOW THEY DEFINE VALUE, IN HOW THEY WORK, AND IN THEIR ABILITY TO INFLUENCE
PEOPLE.
THE FUTURE ROLE OF MARKET RESEARCHERS CAN BE BOILED DOWN TO FOUR HEADLINES:
1) CONSULT, 2) SYNTHESIZE, 3) TELL A STORY, 4) TAKE A STAND.”
From New Roles for Marketing Researchers, S. Chadwick and I. Lewis. Leading Edge Marketing Research, Sage Publishing. Publishing Date Nov 2011
MAKING THE SHIFT TO CONSULTANTS
MR FIRMS ARE ALREADY SHIFTING
25%
35%
39%
Research Providers/ Suppliers
TraditionalBusiness ConsultantStrategic Insights
Note: Among research suppliers (n=268).
THE NEW COMPETITIVE SETQuant Qual
AnalyticsConsulting
LOOKING AHEAD: THE FORECAST• Surveys get smart, dynamic,
and short. Sampling models focus on macro targeting. Game mechanics are built into the interface. Trackers run in real time and are feed from CRM and social media platforms.
Surveys get smart:
• The skill sets of storytelling, connecting disparate data points to form recommendations, and applying the social sciences to understand human behavior will grow in importance.
Qualitative plays connect the dots:
• As technologies that help us understand emotional decision making mature and new approaches come to market, the merger with behavioral economics models will become the norm.
Once more, with feeling:
• Look for major IT players like Google, Salesforce, Facebook, Microsoft, IBM, Adobe, Yahoo, HP or Zynga to continue to make acquisitions & investments to use their data resources for insight generation.
Google gobbles up data collection:
• Not only will advances in text analytics increase the efficacy of this approach, but look for text analytics to also emerge as a game changer in both online search and big data analytics.
Text Analytics reads between the lines:
LOOKING AHEAD: THE FORECAST• 2012 major brands like P&G,
Coke, Unilever, etc.. Will follow through on their stated goals and will be looking for more partners that offer increased value beyond data collection and analysis.
Brands put their money where their mouth is:
• Social media and mobile technologies will continue to connect herdsmen in Africa, Wall Street executives, factory workers in China, shop owners in Germany and farmers in Brazil with each other and the wider world.
Going glocal:
• The science fiction of Isaac Asimov’s Psychohistory and Phillip K Dick’s Minority Report is the science fact of big players like HP, IBM, Google, Apple, and of smaller firms like Palantir.
Big Data = big bucks:
• If you don’t think mobile will continue to be THE defining technology of the next five years then I don’t know what else to tell you.
Mobile, mobile, mobile:
• New client demands, business realities, social trends, technology, business models, competitors, and advances in understanding human behavior are redefining how research is conducted.
Research is redefined:
WHERE IT IS ALL HEADED: MINORITY REPORT
http://www.youtube.com/watch?v=oBaiKsYUdvg
THE KEY TO THE FUTURE
WHERE DOES TRANSFORMATION BEGIN?
“Strategic differentiation does not occur by
delivering data, it occurs by redesigning thinking”
THE 4 AREAS WE MUST RETHINK
1. Client Needs & Expectations
2. People Skills and Capabilities
4. Process
3. Technology Enablers
Data Synthesis
Measurable Client ROI
Innovative Approaches
Leading-edge Technology
Curious & Creative
Delivering Impact
Strategic Insight
Consulting
CREATING A NEW VISIONBuilding a holistic model that is based on leveraging key values and strengths
in new ways to lead the future
NEW SKILLS FOR A NEW ERA
ANTHROPOLOGIST
FUTURIST
JOURNALIST
CONSULTANT
ANALYST
STRATEGIST
The Researcher of Today
The Researcher of the Future
WHAT ARE THE SKILLS FOR SUCCESS?
BRIDGING THE INNOVATION GAP: FINDING THE WHITE SPACE FOR GROWTH
WE MUST EMBRACE, SUPPORT, & FUND INNOVATION
Experimentation Mature Products
SOURCES
• Internal innovation
• Academia
• Tech Start-ups
• Business incubators
• Data scientists
• Client organizations
• Joint ventures
SUCCESS FACTORS
• Human capital
• Time
• Financial support
• Open networking
• Scalability
• Operational processes
• Incentives
MR MUST TRIANGULATE FOR SUCCESSBusiness Need• Data driven
economy• Behavioral
insights• Consumer
engagement
Innovation• Fund
experimentation
• Embrace evolving models
• Look for cross discipline connections
Value Proposition• Keepers of
insight• Voice of the
expressed & unspoken consumer need
• Drivers of change
THE FUTURE IS UP TO YOU; WHICH WAY WILL YOU GO NOW?
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