Market Research 2010 Summarized In One Word: Listening

Recently I was asked  by Research Magazine to contribute to an article about market research in 2010. The caveat: I was only allowed ONE word to describe what I saw as the most important change, trend or force affecting market research in 2010.

Challenging as this was (as my document 'Trends that will shape market research in 2010' covered 10 trends, and that was already a drill down from a longer list!) I finally came up with the word 'Listening'.

Why Listening? (in 100 words max):

"The market research toolkit needs to include more qualitative ‘listening’ in 2010 to uncover the story behind the numbers. Most market research is still about ‘asking’ – using questions to understand consumers’ needs and wants. But some in the industry are collecting a lot of data on customers by listening: they’re analysing web statistics, online brand-tracking information, marketing campaigns, and insights from CRM. Consumers interact with companies via different channels and platforms and they expect companies to understand that – they don’t want to be asked about things they already shared and they will not accept this disconnect in the future"

Other contributions included Probability, Transformational, Rewind, Qualitative, Fulcrum, Ethnographical, Essential, and Consolidation. You can read the full article here (and don't forget the comments, they include some great suggestions).

Do you have any additions, is there anything we missed?


re: Market Research 2010 Summarized In One Word: Listening

I do not believe there is a compelling need to summarize to one word. Besides it goes against the very science of marketing and marketing research (i,e., the needs are different segments are different)

That said, my one word is - Insights. Insights that will enable the brands achieve profitable and defensible growth by serving the stated and unstated needs of customers.

Everything else stated in the article you quoted are really means to deliver Insights.


re: Market Research 2010 Summarized In One Word: Listening

Thank you Rags for reaching out. I completely agree with you that summarizing a complete industry in one word (and 100 characters) results in seriously simplifying the situation.

Creating actionable insights is indeed the corner stone of successful market research delivery. And in my opinion this not only means sharing the stated and unstated needs of customers but also link these back to business objectives. Only then will market research really make an impact.

Thanks again for sharing your insight,