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Posted by Roxana Strohmenger on May 11, 2011
Late last night the market research vendor landscape became a little more consolidated with the announcement that e-Rewards reached an agreement to acquire Conversition 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:
e-Rewards clearly understands the first three points. It has responded by providing not only access to social media sample but also a tool to collect and analyze the conversations this sample is generating, as well as the opportunity to match the results from social market research with information collected through its samples. In fact, it’s a first step to a more holistic approach to social market research.
However, there is piece of the puzzle that is still missing, and right now, it’s theirs for the taking. e-Rewards needs to incorporate consultative services either through internal organic growth or with another acquisition of a firm. Market insights professionals need not only the access and tools to listen to consumers through social media, but also the guidance to help them understand what this social media information means and how to convert it into actionable insights and deliver the recommended next steps that align to their company’s key business initiatives. It won’t be long before other players move in and deliver a full-service offering that marries traditional market research, emerging methodologies like social and mobile, and insights all together. And it may just be that the new competition is already an e-Rewards client.
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