Late last night the market research vendor landscape became a little more consolidated with the announcement that e-Rewards reached an agreement to acquireConversition Strategies. This is not the first, nor probably the last, move that e-Rewards will take in growing a versatile offering in the market research industry. In 2009, e-Rewards, acquired UK-based online panel provider Research Now, which allowed it to become an online panel provider with global reach. And in 2010 e-Rewards acquired Peanut Labs, which enhanced its panel by offering a social media specialty sample that is recruited and surveyed through social and gaming networks. The acquisition of the Conversition platform EvoListen will allow e-Rewards’ clients to listen and analyze, in a market researcher’s terms, what consumers are saying on social media.
This announcement is significant for the market research industry because it:
In July 2010, we posted a Data Digest that shows that almost half of US online males and 42% of online females read consumer ratings and reviews at least monthly. Well, what types of decisions are reviews helping these consumers to make?
Our Technographics® data shows that, as most would expect, more than half of the consumers who check ratings and reviews use them to help make more complex decisions such as a car, TV, or refrigerator. However, these are not the only types of decisions consumers are looking to reviews for — in fact, most check reviews to help with a variety of decisions — from entertainment decisions to making purchases for their jobs.
When we look at this data by generation, it is no surprise that Gen Yers are more likely to use online reviews across most of the decision types that we ask about compared to the overall US population. What is interesting is how dependent they are on online reviews when it comes to entertainment choices (44%) and purchasing ongoing services (41%). And although young consumers lead with using ratings and reviews, it is interesting to see that Seniors that are using ratings and reviews show similar behaviors compated to the total US population for most categories -- apart from the job related one.