Market Research Innovation and My Favorite Pair of Jeans
Posted by Vaughn Mordecai on Thu, Jun 30, 2011 @ 10:32 AM
How many times have you heard the word innovation recently? And how many times has it been specifically associated with our market research industry? I'm assuming A LOT. Innovation is one of those business buzz-words that you love to hate. The word "innovation" came into use many years ago, in the year 1540, and we've been trying to keep up with it since. The word innovation comes from the Latin innovatus, which when broken down means "innovare - to renew or change" "in - into" "novus - new" or "to renew or change into new".
Max Planck, a Nobel Prize winner in physics in 1918 once stated, "An important scientific innovation rarely makes its way by gradually winning over and converting its opponents: What does happen is that the opponents gradually die out." Where do you fall on this spectrum? Are you a "converter" or are you "dying out"? Hopefully you're a converter.
The market research industry is often considered slow moving when it comes to embracing new technology, change, and innovation. We hold on to our beliefs, our philosophy, our research methods, as we do our favorite pair of jeans. They're familiar and comfortable. But, what happens when that “change into new” comes along? Do we embrace it, improve on it, or ignore it? Mary Engelbreit, an illustrator of children's books said simply "If you don't like something change it; if you can't change it, change the way you think about it." If you’re a hater of change, change the way you think about it.
All the recent background noise surrounding market research innovation made me wonder about the true game-changers. Here are some revolutionary (or evolutionary) market research concepts that you will want to have an opinion on because they could really affect your organization or the research you conduct.
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Neuromarketing & Eye Tracking: Medical Sociologists talk about the
medicalization of human interaction. These research modes are prime examples of how market researchers are biologizing their processes by measuring brainwave activity and eye movements when presented with marketing, branding, or product stimuli. If the medical sociologists are right, now that Neuromarketing and Eye Tracking have been introduced into the market research space, you’ll see an increase in their use because the general public, and even we as researchers, typically buy in to physiological response data more so than data surrounding what respondents report (physiological vs. sociological).
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Social Media Research: There is an abundance of social media data out there. Market Researchers are now using it to measure consumer opinion, satisfaction, sentiment, etc. Social Media Research does more than listen. Market researchers are combining this data with other methods of research to give a very qualitative and quantitative view of consumer opinion.
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Mobile Research: Within the next few years, more people will have internet access over their mobile devices than have access to the internet through stationary devices. This will have an impact on the way we conduct market research, whether it's using the telephone functionality, internet, applications, or other communication features of the mobile device, market research collection methods will change. Are you prepared for the impact?
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Privacy, DNC, CAN-SPAM, and Other Legal Requirements: Legal requirements related to privacy, the Do Not Call, recording of phone calls, storage of data, emailing respondents, etc. are very specific and have significant fines associated with any violation. Make sure that you and those working with you understand your legal responsibilities. Just because you don't know what the law is, doesn't mean that it doesn't exist. Have you ever been cited for speeding when you didn't know the speed limit?
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Online Qualitative Research or Online Communities: Qualitative research is one of the most significant areas of industry evolution. MROC's, Online focus groups, video streaming, high def web cam's, etc. have all reduced the geography and made qualitative research more easily executed and accessible. What happened to your mother's or your grandmother's focus group facility? It's about to change...if it hasn't already.
W. Edwards Deming an American statistician, working closely with top management in the US and Japan in the 1950's said, "It is not necessary to change. Survival is not mandatory." Consider the research innovation going on in our industry. At the least, know about it and how it affects your business decisions and how it should drive the business solutions you offer.
If you're interested in how Discovery Research Group addresses these innovations in Market Research (with the exception of Neuromarketing & Eye Tracking because I'm still not sure how to approach it or what to think of it), feel free to contact us.
