Market research in 2020

Recently I enjoyed the pleasure of participating in a debate on the future of market research, organised by MOA. Apart from myself, Carola Verschoor (BrainJuicer), Govert van den Bos (MWM2 & Crowdtech.com), Mieke van Os (Independer.nl) and Marco Drenth (KPMG) also gave their vision on the future role and relevance of the profession. What should we remember from that discussion?

Respect for the basics

If we do not make any changes, market research is signing its own death warrant. Consumers are the crude oil of the sector, but we do not treat them with respect, we treat them lavishly. There are alternative sources of information, but we can never do without consumers: “Perception is reality” is valid pre-eminently in marketing. Furthermore consumers can have a much greater meaning for market research than the limited role they have been attributed so far. They can help us better understand their world, refine ideas, create new products or services, help brands grow, beta-test concepts etc.

Looking forward

We have to look ahead rather than to look back. Market research often only aims at limiting risks or justifying decisions. Instead we should try and predict consumer behaviour, offer inspiration and specific solutions. We should more frequently consider emotions rather than make rational considerations, e.g. starting off from behaviour economics, social sciences and psychology.

Empathy

Researchers are not open enough to internal challenges of their clients and think too little as marketers. If researchers want to become consultants they will need to develop various capabilities and competences which are mainly lacking today: interest and understanding of their clients’ business, strong presentation and persuasion skills, focus on integration and storytelling, etc.

Experimenting, but also focusing

Too many researchers simply say yes to everything. Build a network of structural partnerships with other parties and aim for things you can excel in. But then again, many other researchers do not spot new opportunities. Many of them missed the boat of immense options offered by new media and technology. This does imply, however, that they have to be open to atypical market research profiles.

No Calimero

Given the increasing power of the consumer and the fact that market research traditionally is closest to that customer, the future’s perspectives in the sector are positive. The time has come for the market researchers to escape their ‘Calimero’ complex by putting themselves in a subordinate position. It is a unique chance to lift market research to a much higher strategic level. Who knows, there might soon be a seat available for a “Chief Consumer Officer” in the boardroom.

‘Winston Wolf’ speed and action
Some of you may remember Winston Wolf from the much rewarded Tarantino-film ‘Pulp Fiction’. Speed, passion for action and integration become much more central. New methods such as research communities act upon this to perfection: the support a continuous dialogue with consumers, they help to see the full picture rather than fragments, they ask questions we had not thought of ourselves, they offer a 24/7 help line for the marketer and ensure a joint vision by gathering various parties around the consumer.
This column was originally published in MarketingTribune.

You might also be interested in

Black man with Rubik's cube

Keep your strategy in tune with consumers’ needs via Price Sentiment Trackers

Written by Yvonne Feucht

How tracking price sentiment helps you ensure that your price and product strategies stay in tune with consumer and retailer needs

InSites Consulting expands European footprint with the acquisition of Happy Thinking People

InSites Consulting expands European footprint with the acquisition of Happy Thinking People

Written by Anke Moerdyck

Strengthening our European footprint, we’re excited to announce our latest acquisition in the region with Happy Thinking People, headquartered in Munich and spanning Germany, Switzerland, and France. Happy Thinking People was founded in 1989 as a qualitative boutique, and today an international market research and innovation consultancy, ranking #1 on Innovation and Creativity in Germany (Marktforschung.de 2021).

Insight Activation - People on power box

The 4 C’s of Insight Activation

Written by Lisa McFarland / Tom De Ruyck

Discover how you can activate internal stakeholders, turning insights into action and business impact. Understand the activation spectrum.