At Forrester, we believe that 2012 is an inflection point for mobile market research. Specifically, 2012 will be considered the “big bang” for a new era in market research — one in which mobile devices will become a critical vehicle to connect, engage, and subsequently understand the consumer. As such, we have recently published two reports that address this very important emerging methodology for Market Insights (MI) Professionals.
The first report, entitled “The Mobile Market Research Landscape 2012,” explains why mobile research will become the heart of market research. Although only a fraction of MI Professionals are currently leveraging mobile, the report reviews the reasons why mobile is here to stay and the advantages of leveraging this approach — such as the ability to capture real-time insights, gain access to hard-to-reach sample, or get more personal with respondents. In addition, given the opportunities to collect different types of data via mobile phones, we provide an overview of the quantitative, qualitative, and behavioral approaches currently available. And, no overview report is complete without a discussion of the current challenges that still face mobile research, such as security and privacy, and our recommendations for what MI professionals need to do to prepare for this shift to this new world.
The second report, entitled “How To Plan For Mobile Online Survey Takers,” addresses a growing issue not often discussed among MI Professionals — the increase of what we call mobile online survey takers. We define this group as:
My colleague Lindsey Colella and I attended the Vision Critical Summit in New York this week and were inspired by how market insights professionals are truly embracing the value of market research online communities (MROCs). Among the emerging and innovative methodologies, this is the one that we are seeing gaining significant traction: The Greenbook Research Industry Trends (GRIT) Report shows that this is the top emerging methodology used by client-side researchers — with 36% currently leveraging it.
What did we learn at the event? In addition to reinforcing MROC best-practice tips like closing the loop with panelists and incentivizing in a relevant way, which Lindsey recently wrote about in her report “Best Practices For Managing A Market Research Online Community,” the following best practices and examples caught our attention:
· Internal marketing is critical. Market insights professionals need to “sell” the value of MROCs to various business units across the organization. One electronics retailer did that by hosting monthly meetings in which the MI team presented all the research collected in the MROC to the cross-function business leaders.
As an analyst, my job is to examine the emerging research methodology landscape and see what trends are evolving and how market insights professionals are leveraging and integrating these new techniques into their research toolkit. While this type of research is extremely enjoyable, every now and then I am lucky enough to be able to get my hands dirty and play with some of these methodologies. This time around, I got to play with passive mobile behavioral measurement data.
Similar to online behavior tracking, mobile behavior tracking passively records the activities that consumers perform on their mobile phone. With this data, you are able to know, for example, how many inbound and outbound texts are made, when and for how long a person uses an app like Facebook, or how many megabytes of data they downloaded or uploaded. Vendors that provide this tool include Arbitron Mobile, comScore’s MobiLens product, Research Now Mobile (formerly iPinion), and RealityMine (a spin-off company from Lumi Mobile).
This shouldn’t come as a surprise, but I love talking about cool, emerging, and innovative research methodologies. Over the past two years, I have been focusing a lot of my time on researching these techniques and have written several blog posts on this topic. For example, how prediction markets can help determine which concepts will succeed or fail in the marketplace. And how 2012 is the year of mobile, and market insights (MI) professionals need to leverage this channel.
In continuing with this theme, I am launching a blog series focused exclusively on highlighting emerging methodologies that MI professionals should take notice of and examine whether to incorporate into their research tool kit. I will highlight any cool research techniques I come across, as well as any vendors that are building interesting technology tools for market research purposes.
For this inaugural post, I will highlight location analytics. Essentially, market insights professionals can use a consumer’s location information that is transmitted by their mobile phone to understand what they are doing in their daily lives. For example, you can understand where your target customer is shopping, how she got there, and which competitor stores she drove past. The consumers being tracked do not have to “check in” every place they go to gather this information. Instead, all of the location data is passively collected after a consumer opts in.
I just returned from the IIR Market Research Technology Event (TMRTE). These were three action-packed days of industry leaders delivering great insights on what’s important for the market research industry, as well as the challenges and opportunities that technology presents. It was a pleasure to meet and connect with so many thought leaders in market research. Here are three main themes I gathered from the event and what I think market researchers need to pay attention to:
Big data is here. Many of the presenters highlighted how intimidating the flood of digital data can be for market researchers. Christopher Frank from American Express and Paul Magnone from Openet say it’s like “Drinking from the Fire Hose.” But Stan Sthanunathan from Coca-Cola reminded us that big data is a reality — so we’d better embrace it or get left behind. As a result, market researchers will need to move from viewing technology as an enabler to viewing technology as a driver.
There are only three weeks left until Forrester’s Marketing Forum, and the excitement surrounding this event is growing exponentially. Our focus this year is on how companies must radically shift their marketing practices to account for the myriad of new methods and media that people use to engage with a company and its brands and products. Our goal is to help you learn how to adjust to this new digital world we call the Splinternet.
In classic Forrester style, we run our presentation tracks to cater to each of the roles we serve within the marketing and strategy organization. For the market insights (MI) professional track, my colleagues Tamara Barber and Jackie Anderson have prepared some great content, starting first with Tamara’s take on the future of the MI department and then shifting to the awesome panel of speakers Jackie has lined up on what youth research can teach us about 21st century market insights. Next up for our track, I will walk you through some cool, emerging, and innovative research methodologies that you can use to understand this new type of customer.