Archive for the ‘innovation’ tag
By Scott Worthge, VP, Research Solutions
As companies move toward the end of the year and think ahead to their 2015 strategies, a few key points of consideration are on the table. A big one is budget planning, of course. And part of budget planning will involve marketing, and within this area, market research. But that begs several questions:
- Has your organization developed a clear plan for its market research initiatives in the year ahead?
- How is your executive team thinking about the changing dynamics of how customers and companies interact in the marketplace?
- How will your organization understand and act on that thinking?
Here’s a closer look at how to evaluate these questions to help persuade skeptics on the importance of market research as you plan your business objectives out for 2015.
By Andy Jolls, Chief Marketing Officer
In the start-up and entrepreneurial space, there’s significant focus on Eric Reis’ book The Lean Startup. The concept is simple: an agile or just-in-time marketing, research and product development approach keeps organizations always learning and iterating based on that knowledge. One of the core tenants of the philosophy is to be always testing and always innovating. Creating an organization that’s based on a culture of learning and sharing data is a challenging process. However, it’s ultimately worth it in terms of growth and the ability to offer world-class products and services to your market. How do companies create the kind of cultural infrastructure that supports ongoing dialogue with the market?
By Edan Portaro, EVP Global Business Development and Mobile Innovation
A new study by UC San Diego suggests that the average person will be consuming information for roughly 15 hours each day by 2015 via mobile devices and channels reaching them in their homes. That’s the equivalent of nine DVDs worth of information per person per day, essentially accounting for every waking moment. If you press pause on the lifestyle assumptions of that information, it raises a different concern: How rapidly are your consumers learning, consuming brand information and making purchase decisions? Can your organizational learning initiatives keep pace in such a high-volume, high-demand environment? Companies are achieving this goal every day, by integrating their research channels and creating a continuous research program that increases the speed at which their organization learns while cutting costs and mitigating risks.
By Daniel Ross, SVP of Product and Technology
It’s no secret that we’re in the age of quantifying. In baseball, it’s all about the numbers – countless stats are collected and analyzed to try to predict the success and future of players and teams. However, that does not mean we can discount the “feel” of things, either. As Chairman Emeritus of DDB Worldwide Keith Reinhard told a crowd at ARF Re:think 2014 yesterday, when you hear the bat crack against the ball, you know it’s a home run.
The same, according to Reinhard, goes for advertising. As much as there is a science behind how to make a successful campaign, so much of it comes down to a gut feeling of what will do well. Specifically, Reinhard explained, success can come when connecting with your audience emotionally. Take State Farm’s campaign, for example. Their advertising isn’t centered on their policy, it’s about the hometown feeling they offer their subscribers. Their promise to be “like a good neighbor” and be there for you when you need them most is what attracts people to their business.
So if Reinhard is right, and successful advertising often comes from emotional appeals that develop based on gut feeling, how do you gauge when you have a successful campaign? That’s an idea uSamp is continually trying to address, most recently through our expansion into Mobile. We want to get that data from our users in the moment – capturing their emotional responses as they experience them.
The possibility for reaching consumers at the moment of truth is already out there. Keller Fay Group’s CEO Ed Keller and Discovery Communication’s Senior Vice President for Market Resources Beth Rockwood addressed this idea during their ARF Re:think 2014 session “Talking Social TV 2″ yesterday. Television viewers are socially connected, with 1 in 5 viewing occasions involving social media. People are already developing the habit of cataloging their in-the-moment responses to what they see and hear around them.
If Reinhard’s right and advertising’s success is the emotional response, then businesses need to collect that data instantaneously and to have an accurate understanding of how their company and products are perceived.
The industry’s final word on all things market research is here at last! The winter 2014 GreenBook Research Industry Trends (GRIT) Report released this week, and it’s chock-full of fascinating insights, trends, and discussions about where the industry is headed. Our very own Robert Clancy, VP of Insights and Strategy, adds his commentary on the slow adoption of mobile in the industry and what might be holding researchers back. See below for more.
By Ian Riner, Director of Research Solutions
We’re all familiar with the word “brand,” but exactly what it means can vary wildly from person to person. We may think of the iconic Nike Swoosh, the initials printed across a designer handbag, or a notorious reality TV star. Brands exist on many levels, and we encounter them everywhere in our daily lives. Think about your mobile phone for example: It might feature several brands: the brand of the manufacturer (think Apple), the brand of the product line (think iPhone), and perhaps even the brand of your favorite animated character emblazoned across its case (think Hello Kitty). Whether we are conscious of it or not, all of these brands carry deep meaning for us and announce something to others about who we are.
In December 2013, uSamp partnered with UTA to design a groundbreaking methodology that provides us with a unique metric for measuring our attachment to brands. The first-ever Brand Dependence Index, focusing on the consumer electronics vertical, was debuted by Larry Vincent of UTA Brand Studio this month at CES in Las Vegas. We fielded the study, providing the audience and technology required to collect dozens of individual metrics about 20+ brands from thousands of consumers and fed this data into the index in real-time. As a result, we were able to complete this study in a matter of days!
Brand Dependence Methodology
The Index is designed to provide us with a better metric for understanding the strength and impact of a brand in the eyes of a consumer. It relies heavily on the notion of attachment, that is, how individuals view themselves in relation to brands. Also taking into account other existing brand metrics such as awareness and likeability, Brand Dependence has shown to be a significantly more reliable indicator of future purchase behavior. The overall score reported by this index helps us as researchers understand how brands occupy their place in our lives, the way we feel about them, and how this translates to the all-important purchase.
The study produced several surprising results, not least of which was Microsoft scoring highest for overall dependence. You may feel little attachment to Microsoft, and have a stronger bond with Apple, but consider this: Your first computer likely ran DOS or Windows, and the vast majority of desktops today still run a Microsoft operating system. This is partly why Microsoft scores high in “Impact” among consumers; people everywhere depend heavily on Microsoft’s technology and products.
Apple’s attachment score, on the other hand, varied significantly across key demographics. We found that lower income and less educated consumers feel far less attached to Apple than those with greater means and education. Directly comparing Apple to Microsoft, we found that Apple did test higher for “Intensity”; however, Apple also scored higher for brand aversion than Microsoft did, which created more drag on Apple’s overall score after we crunched the data.
Where Do We Go From Here?
The Brand Dependence Index helps us look at the relationship between people and brands in a new and exciting way. The insights gleaned from this research can help those who manage all types of brands develop more meaningful relationships with their audiences. And when coupled with a panel with sufficient breadth, depth, and access, the possibilities for future research are virtually endless. Countries, social media sites, political parties—all have their own brands and can use these insights to evaluate and optimize their position. Fascinating iterations are on the way, so stay tuned.
In this post, Ben Leet shares his predictions on where the market research industry is headed in 2014.
What is your New Year’s resolution in 140 characters?
Stay ahead of the game! The pace of change will not slow down anytime soon.
What do you anticipate being the biggest trend for 2014, and why?
As mentioned before, I think the wider marketing world is going to move increasingly into big data analytics to find uplifts in marketing ROI, and I still think research has a big part to play in this area. And, of course, mobile methodologies will continue to evolve and adoption of them will increase.
What companies/brands do you think will do well in 2014, and why?
Those that understand how consumers think and move with them will do well across all verticals, but those that continue to “do what we’ve always done” will start to fall by the wayside pretty quickly.
Any thoughts on what 2014’s biggest buzzword might be?
What will success look like in 2014?
For my company it will be to continue innovating and bringing new concepts and ideas to the marketplace, and I hope the same is true for the industry at large.
In this interview with Research Magazine, Lisa Wilding-Brown shares her thoughts on the events that shaped the market research industry, marketing, and technology in 2013.
What has been the biggest development of 2013?
Mobile market research has profoundly impacted the industry in 2013 because it has added a contextual element that other research methodologies lack. Real-time interaction with the consumer at the point of purchase or consumption yields rich findings that might not be possible to ascertain from a consumer who is removed by time and space. What’s more, mobile is much less invasive and more time- and cost-efficient than traditional strategies.
What was 2013’s biggest buzzword?
Geofencing. Although still in its infancy, a technology like geofencing is critical to implementing effective mobile campaigns. Using smartphone geolocation, we can identify consumers entering or exiting specific vendors and then send highly targeted studies that get us closer to that moment of truth at the shelf, aisle, or restaurant.
What was, in your opinion, the best campaign (ad/brand/political/social) of 2013, and why?
The recent media blitz for the new Anchorman 2 movie has been impressive. Will Ferrell’s character Ron Burgundy has been showing up in all kinds of real-life situations and spawning dozens of viral videos. He even co-anchored the nightly news at a local station in North Dakota. I love to see creative media campaigns like this one; it’s fun when fiction seeps into reality and we can see our favorite characters come to life.
What has been the year’s biggest success story?
Netflix’s dive into original content was one of this year’s greatest successes, proving that listening to the consumer is one of the most effective strategies for developing an excellent product. Their ability to cull data and preferences from their large subscriber base to find a winning combination in producer David Fincher and actor Kevin Spacey is a great reminder for all of us that the consumer still knows best.
What has been the year’s biggest disappointment/anti-climax, and why?
The launch of the Healthcare.gov website was so highly anticipated but will likely be remembered as one of the most bungled product launches of the past few years. The implementation of the marketplace was executed poorly, and consumers were left out in the cold. We actually surveyed our panel to better understand the user experience and learned that 4 out of 5 people encountered technical difficulties ranging from error messages to not being able to create an account.
by Chuck Miller, Digital Marketing & Measurement (DM2)
Next week is one of my favorite times of the year: the annual presentation of the EXPLOR Award, honoring innovation in marketing research. Delivered by uSamp and DM2, the awards bring together clients and providers to showcase great case studies using methods that push the boundaries of market research. Finalists and winners are those judged to stand-out from their peers in delivering a creative new way of gaining insights into our world. The winning case study is always enlightening, and it is presented and shared with the industry at IIR’s The Market Research Event.
The EXPLOR Awards began in 1999 as a means of showcasing the best applications using the then fledgling capabilities of online research. The EXPLOR acronym represented “Exemplary Performance and Leadership in Online Research.” The idea originated in a meeting I had with Peter Dickson, at that time the director of the University of Wisconsin’s A.C. Nielsen Center for Marketing Research. Back in those days, there were lots of arrows shot at online research, but we knew it was being used meaningfully – so we sought to highlight the best cases and best practices. Over the years, as online research became more accepted (and in many case the norm), we expanded the award to include ALL research innovation. The best cases annually bring together new methods with new technologies to deliver insights in truly groundbreaking ways.
This year we have three amazing finalists with unique approaches to delivering insights. They are:
by Chuck Miller, President, DMS, Chief Research Officer, uSamp
Next week is one of my favorite times of the year: uSamp’s™ annual presentation of the EXPLOR Award, honoring innovation in marketing research. Each year clients and providers join forces to showcase great case studies using methods that push the boundaries of market research. In the past, the award has been granted to entrants who have created a cool new technology, or offer a creative and sophisticated way of gaining insights into our world. In either case, it is always enlightening, as is the process of evaluating all of the compelling entries.
The EXPLOR Awards began in 1999 as a means of showcasing the best applications using the then fledgling capabilities of online research. The EXPLOR acronym represented “Exemplary Performance and Leadership in Online Research.” The idea originated in a meeting I had with Peter Dickson, at that time the director of the University of Wisconsin’s A.C. Nielsen Center for Marketing Research. Back in those days, there were lots of arrows shot at online research, but we knew it was being used meaningfully – so we sought to highlight the best cases and best practices. Over the years, as online research became more accepted (and in many case the norm), we expanded the award to include all innovation.