Some of the highlights in the report include:
- The challenges to market research posed by structural and systematic change and which companies are the most innovative in responding to that environment
- How social media, mobile, Market Research Online Communities ( MROC’s), and text analytics are matching the ‘hype,’ and becoming the game changers of the future in market research
- The continuing importance of the business relationship – personal service, responsiveness, and attentiveness – in driving decision-making, despite the interest in new technology
New technology is moving at so rapid a pace that old world methodologies need to be adapted to harness change and stay relevant in today’s market place. But not at the expense of old fashion values.
Social media is driving innovation.
Interestingly, it’s the client side of market research that’s forcing change. The swift adoption of social media has driven market research companies to adopt new techniques to supplement – or even replace – more traditional methods.
The growth of social media has not only driven dramatic change; it’s also opened opportunities for both supplier and client. The very nature of the mobile media market offers new methods of unlocking and collecting useful data. These include social media analytics, online communities MROCs, data mining, and mobile and text analytics.
Does buzz match reality?
With so much buzz about emerging markets, knowing where actual practice is matching the buzz is no small task. Fortunately, GreenBook tells us which methods are matching the hype. These include online communities, social media analytics, text analytics, and mobile surveys.
It’s about people.
Social media today give us an unprecedented ability to see the details of people’s lives. Which, of course, adds a whole new dimension in not just collecting data, but in how we decipher it. The info graphic below says it all: To understand and use all that new information we may just have to add a few psychologists, sociologists, and anthropologists to the roster of business and marketing experts that used to fill our ranks.
Some things stay the same.
Changes in social media, mobile communications, and advanced technology are certainly game changers for both clients and suppliers. But in the end, as much as technology is forcing change, the basics remain the same. Market research company traditionalists can still rely on one of the most important fundamentals: The business relationship (i.e. personal service, responsiveness, and attentiveness) is still a major decision-making driver for respondents across the board.About GreenBook:
GreenBook brings resources to market researchers on both sides of the table and offers effective marketing opportunities in a variety of targeted media. The GreenBook media platform now includes the flagship GreenBook Directory (online and in print), specialized GreenBook Health directory, GreenBook Blog, Research Vibes (a customizable market research portal), New Qualitative Research guide and directory (online and in print), and a new publishing program to provide stimulating, practical, and timely content on topics and issues relevant to the industry. While becoming a rich source of marketing research content, GreenBook continues to be the destination for detailed and accurate information on research providers of all types.