Live note taking at the #IIeX conference in Atlanta. Any errors are my own.
Panel: The Next Generation of Market Research & Insights Creation
; Moderated by Leonard Murphy (GreenBook) with panelists Chris Enger (Periscope by McKinsey), Tamara Char (Periscope by McKinsey), & Simon Chadwick (Cambiar)
- Periscope by McKinsey is a suite of tools for collecting learnings, analytics
- Our entire industry is fragmented, over half of companies that source data did not exist ten years ago and they may not exist ten years form now
- Technology is not the driver of change, client needs and circumstances are the drivers of change, they are being asked to do far more with budgets lower than they used to be, they much get creative
- Behavioural data and analytics techniques to analyze that data is suddenly easily available and analyzable, this changes everything about being able to identify insights and work in an agile way, can get to 80/20 answers more quickly, we don’t need the 100% answer, we need to make progress on problem solving
- Are analytics pushing the business forward, are the ‘researchers’ falling behind and failing to get seat at the table?
- Need to elevate the quality and consistency of data so that the leadership is never getting three answers to the same question nor are employees hearing diverging answers
- You must have a c-suite leader and hopefully the chief financial officer who has a longer tenure in a company, not the chief marketing officer
- The CMO needs to spend time developing strategies not waiting to get data, let the machines do the heavy lifting so the team can spend their time strategizing
- What is the role of the methodologist, understanding fit for purpose of all the tools, this is why we’re seeing so much fragmentation,
- In the USA, people are attracted by tools. In the EU, they are more focused on ideas and creativity, and try to be creative all through the entire process. Need to be less technologically focused in the USA.
- Try assigning various people on th c-suite to BE a person in a segment, have them go shopping for her, experience her, all to get them to empathize more clearly, because c-suite lives are so completely different from their segments
- Is automation a dirty word? Machine learning templates and speeds everything up, may eliminate bias of an individual person although it will perpetuate bias that exists within the data
- We need to present data for ten minutes and then discuss the oilers and solutions for the remaining 50 minutes
Panel: The GRIT Report & Future Impacts
; Moderated by Leonard Murphy (GreenBook) with panelists Aaron Reid, Ph.D (Sentient Decision Science), Patricia Chapin-Bayley (Toluna), Rick Kelly (Fuel Cycle) & Isaac Rogers (20|20 Research)
- Automation is mostly used for analysis of surveys data, charting and infographics, analysis of text data, analysis of social media, sampling
- “My clients aren’t asking me for social media data” no they aren’t, they’re asking someone else
- Automation frees up time to expand capacity and do more, many things will soon be automated. We must adapt to this or fall by the wayside.
- Buyers are slow to adopt automation, automation is a dirty word because they think it is DIY and it will be more work. It will actually free up resources and allow you to do more once you are trained and moving forward.
- Do you want to be at a data collection conference in five years or at an insights conferences? Your business must adopt automation.
- People don’t CARE if you automate, they want better research insights and thinking. You must have automation to get there.
- Automation may not cut your budget but it allows you to move your budget into higher value endeavours.
- What should samplers do? Advise on representativity, enforce length of interview limits, consult on questionnaire design, restrict to mobile only, forbid mobile-unfriendly. it is an absutive relationship – clients don’t want to pay for consumer friendly and respectful questionnaires.
- There is no such thing as a non-mobile study. Every device must work and work well. You cannot run a survey without mobile respondents or you are guaranteed a nonrepresentative sample. Why is this even a conversation?
- If you aren’t thinking mobile first, you are being stupid. We spend half of our time on our devices. It is a data quality issue. [Cannot agree with this comment enough]
- Educating the researcher of the future – they need critical thinking and storytelling skills. We all need to be critical thinking experts, you shouldn’t in the business without that. We need to train the current workforce on how to do this. We’ve trained people on how to run cross-tabs but they need training on storytelling and turning insights into action.
- Quick research doesn’t have to be quick and dirty or poor quality
- The technology doesn’t matter, the platform doesn’t matter, we need to stop talking about the technology and focus on consultation, understanding the problem
Researchers love numbers. We love frequencies, orders, and ranks. And what makes frequencies, orders, and ranks even better? When it’s about research!
We often see on the interweeb blog posts and stories ranking market research companies on things like most innovative, most creative, most compelling and more. It’s cool to see because in many cases, we voted on those things ourselves, whether by an actual survey/poll or through retweets and shares. But it puzzles me why we get caught up in because, of all people, we should know just how inaccurate and misleading they are.
Wanna know why?
- I’m gonna vote for myself. And my company. And so is everyone else at my company. All five thousand of us.
- I’m gonna retweet and share and reblog myself. And my company. And so is everyone else at my company. All five thousand of us.
- Which, if you’re following, means the bigger your company is, the better your chances of being voted to the top.
- If you and/or your company has been around a long time, you have a lot of top of mind awareness. Even if you’re boring as heck. Which means when I’m half asleep and trying to think of someone, ANYONE, I’ll probably think of you. And if you’re remotely interesting, I’ll probably write your name down. Even though you don’t really deserve it.
- If you have a busy marketing team that keeps your business in the news constantly, even if you aren’t doing anything particularly interesting, you’ll earn a pile of top of mind awareness points.
- If you’re a nobody, or have deliberately kept your business small and local, the global research industry has no clue who you are. Top of mind? Yeah, right. Votes? No way.
The good thing is, though, that if your company is relatively small, and relatively local, and relatively new, and you STILL make the #1 spot, well, my genuine congratulations to you. You are doing something right and deserve to be there.
Welcome to my #Netgain6 MRIA live blogs. What happens at St. Andrews Conference Centre, gets blogged for all to read about. Each posting is published immediately after the speaker finishes. Any inaccuracies are my own. Any silly comments in [ ] are my own. Enjoy!
Lenny Murphy, Editor-in-Chief of GreenBook Blog and CEO of BrandScan 360
- Lenny says Canadians are the nicest, most gracious people. [yup, he’s right!]
- Researchers must become consultants, shift how we define our purpose – consult, synthesize, tell a story, take a stand
- Drivers of change
- New competitors are BI, Tech, DIY, SM – they provide data, a commodity, but they are not researchers
- Client demands, ROI, integration of data, implications and outcomes, HOW to sell more stuff
- Consumers – engagement, socialization, fun, rewards, gaming companies are valued at billions of dollars and changing the face of our culture
- Economics – cheaper, faster, better
- Human capital – changing skill sets, other countries like India can fill skill gaps (end of drivers of change)
- One third of world’s online population is online
- 6 billion mobile cell subscription – how’s that for representativeness compared to simply online, but can’t do the same kind of research with a five minute survey
- There are currently 60 mobile apps for surveys
- 90% of data that exists today was created in the last 2 years
- Current research model is a production model, data ponds, methodological rigor, objective reporting, low touch, slow to adapt, market focus
- Transition model is data rivers, curiousity, narratives, high touch, partnerships, embracing technology, people not process, regional focus
- Future model is data oceans, method agnostic,high touch, integration, leading tech, people-driven, glocal focus
- Perceived threats – in-house research/DIY, social media isn’t real research, lack of skills to compete with new entrants, research is a low cost commodity [let’s not bash individual DIY companies, let’s bash poor quality research]
- Opportunities – innovation will save us (flash will save us? no), mobile applications, neuromarketing, social media research, more data to analyze, customer centered solutions, new methodologies
- Factors for selecting suppliers – listen and understand needs, good relationship, completes on time, familiar with needs – price is not the core driver, WE created the price driven decision
- From questioning to discussing, from asking to observing, from rational to emotional, from siloed to converged, from quarterly trackers to MROCs
- Emerging techniques used today – Online communities, social media analytics, eye tracking, mobile surveys, text analystics, webcam interviews,mobile qual, mobile ethnography and all expected to double in use next year
- Clients are concerned less with methodology and more with how will this method allow me to address my issue and sell more stuff. Don’t sell “we have cati and mobile and web.” Sell “we have solve these problems these ways.”
- Researchers need to be synthesizers not project managers, need to rewrite job description and reevaluate hiring criteria
- Need biz knowledge, storytelling skills, consulting skills, ability to synthesize data [storytelling…. hm…. like, a novel…. ]
- Emerging companies are already hiring in these areas and we need to do so as well, clients are already hiring for these as well
- We want to hire psychologists, designers, moderators, developers, scientists, idea people not skills people. We need to let our current employees fulfill their potential. Your project manager just might be the most creative person there is.
- Forecast for MR – phone surveys decline, surveys become shorter, targetted panels highly valued, listening flourishes, research becomes more mobile, more data insights consultants, Google/Amazon pushing into our space, multi-methods/roles/objectives merge as one industry to deliver insight
- Differentiation does not occur by delivering data, it occurs be redesigning thinking [could not agree more – My company doesn’t sell data and processes, we sell smart thinking]
- Which companies are most innovative? Brainjuicer first, then Ipsos, Vision Critical, Kantar, Nielsen, GfK, Synovate, itracks, 20/20 research, and Millward Brown – Top 10 (Research Now is #21, Conversition is #30)
- Top companies sell the image, exude sense of innovation, branding is fab
- Many other companies on the list aren’t traditional MR companies and they aren’t very big. They are more like agencies solving problems. These tiny companies are becoming top of mind.