How is technology shaping the market research industry?
27 May 2018
7 proven ways to build your personal brand on LinkedIn
I am a keen adventurer. Whilst I have a career in market research, I love to climb, especially when it involves snow. Involving all the gear you can think of, including crampons, climbing axe, boots and a lot of warm clothes.
After being to Nepal, I thought.
How could I relate my climbing missions to market research?
Everyone has a mission at their organisation to make money and to create some outstanding work. Yet, it could also be to create a new product to then upsell to your target audience.
I had a mission to climb high as I could.
Along the journey whilst developing a new tool or piece of technology, it can be a bumpy ride. You don’t know what is on the other side. You are taking your next steps into the unknown, one step at a time.
Technology and market research
You have your goal in sight, and it might be a lonely place. Market researchers sometimes work in silos. They like to take care of their prize, that great idea they had. This means they don’t let anyone have any sight of it, or to take any of the glory.
Whilst the view is a bumpy ride. You get to remember a lot of amazing experiences along the way and plenty of learning curves to think about. For your next business opportunity and project.
Before I even started to climb I was a toddler like you but I had some cool shiny and bright trainers. The amount of data and information that can find on me has changed drastically over the years.
This is what I like to call the data utopia. It started by individuals using bricks, I meant mobile phones.
It was also the time when the first paper surveys were introduced in the United States.
But then look how technology and the data we can gather has transformed.
Microsoft Excel was produced and has now become the norm. LinkedIn is now used as one of the most powerful tools to help businesses and personal brands. You can see how to use Linkedin as well as other tools to enhance your personal brand in one of my latest blog posts here.
Problems with technology and market research
· Confusing questions that can’t be answered.
· Surveys that are not optimised for mobiles or smartphones.
· Long, very long surveys that take far too long to answer.
· Surveys that suggest it takes 20 minutes when they take longer
Also, In a world where market research is becoming an important tool to understand customer decisions. We face the battle of the inbox.
Now my spam inbox looks something like this. 6,763 emails of which, a lot of them will be something to do with GDPR. Amongst this number of emails, are online surveys to complete. Mostly, customer satisfaction surveys about a recent shopping experience or trip abroad.
You can actually see how my trip to Amsterdam and Atlanta went here.
How on earth am I meant to see these surveys that can help organisations so much. When they mixed together with many other offers and incentives?
We need market research to be that light bulb. That important thing, someone will take 5-10 minutes to think about.
In a competitive world, we now need to balance, profit/cost and Insights. Panels are becoming expensive. Especially when clients need a particular individual to complete a piece of research. This balancing act bites back at an agency as well who have to make some sort of profit from each project.
Individuals are now using mobile phones more than ever. I was actually walking through an airport recently on my phone. With my head down. And bumped into someone because we were both looking at our phones so much.
The CustomerThermometer conducted a piece of research to understand email open rates by industry.
Who do you think won the battle?
Mobile communication won!
2nd place was satellite providers such as Sky and BT.
1st place only received back 27% of all their customer satisfaction surveys which is less than 1 in 3 people. I find this startling!
70% of people have abandoned a survey before finishing it – sound familiar?
This is why I created my own FREE e-book.
I tested 15 techniques that could help to improve completion rates of online surveys. 10 of them were awful to be honest which is why they are not in my e-book.
What I have included are 5 awesome techniques that will help you to create an awesome online survey. Every single technique has been tested and I now use them day in day out. So if you would like to download this free resource that has taken me for hours and hours then click here!
Upinion and technology
When I recently visited Upinion in Amsterdam. I was amazed at how their conversational product was working with clients.
Discovery Networks reaches 1.8 billion subscribers in 218 countries and territories.
To ensure they’re delivering the best content for their audience. Discovery sent out surveys via email to gather feedback after the show has aired. This meant viewers have moved on to something else and didn’t remember what they watched. Leading to inaccurate results.
Discovery needed a way to sit with their viewers while they watched TV and engage with them in the moment. And this was why they picked Upinion.
Discovery showed Futurescape with James Woods, inviting 350 viewers to join their viewing party. Doubling their survey respondents. Over 70% of adults are second screen audiences, which means they are on their phones while they watch TV.
They engaged with their second screen audience by developing a conversational survey. They used timed scripts to ask questions during pivotal moments of the show. To help them to gauge how their audience felt as they watched. Viewers chatted with Discovery during Futurescape on Upinion. Providing play-by-play commentary on how they felt about the show.
Using technology to gather results from consumers
It was a loud and clear message from viewers. Futurescape was a hit and 81% of viewers wanted more of new host James Woods.
Since then, Discovery have used input from this study to create additional programming. They continue to chat with viewers to learn about what they want to see.
If you need more information on Upinion and their work, you can see their website here:
So amongst everything else you have to think about and do. Think how you will next conduct market research in a world that with apps and technology.