RIDING THE CHANGE WAVE: ARCHITECTING MARKET

RESEARCH FOR THE FUTURE

DRIVERS OF CHANGE

Market Research Suppliers

New competitors: Marketing Agencies,

BI Tech, DIY, SM

Client demands: ROI, Integration, Implications &

Outcomes

Consumers: Engagement,

Socialization, Fun, Rewards

Technology: SM, Mobile, Converged

Lifestyle

Economics: Cheaper, Faster, Better

Human Capital: Changing skill sets

THE MOBILE DRIVEN DATA ECONOMY

AN INDUSTRY IN TRANSITION

Traditional Business Model

for MR

• Data ponds• Methodological rigor• Objective Reporting• Low touch• Production models• Slow to adapt to technology• Process vs. People• Market focus

Transition Model

• Data Rivers• Methodologically curious• Narratives & Implications• High touch• Deep partnerships• Embracing technology• People vs. Process• Regional focus

Future Model

• Data Oceans• Methodologically agnostic• Narratives, Implications &

Outcomes• High touch• Integration with client orgs• Leading technology• People-driven • Glocal focus

Almost 60% of Client Research VPs expect major transformation by 2020*

70% of whom expect this to be evident by 2015

*38% among total respondents (N=160)Source: Cambiar Future of Research Study, 2011

DON’T TAKE MY WORD ON IT

WHAT EMERGING TECHNIQUES ARE BEING USED TODAY?

None of these

Gamification methods

Facial analysis

Biometric Response

Mobile Qualitative

Apps' based research

Crowdsourcing

Mobile Ethnography

Prediction Markets

Visualization Analytics

NeuroMarketing

Virtual Environments

Webcam-Based Interviews

Text Analytics

Mobile Surveys

Eye Tracking

Social Media Analytics

Online Communities

0% 5% 10% 15% 20% 25% 30% 35% 40%

31%

6%

6%

5%

13%

11%

8%

14%

10%

8%

4%

7%

19%

21%

24%

15%

27%

33%

28%

3%

4%

5%

5%

6%

7%

7%

7%

7%

11%

11%

12%

16%

17%

27%

30%

36%

Research buyer or client

Research provider or supplier

Note: Among research buyers (n=149) and research suppliers (n=669).

WHAT EMERGING RESEARCH TECHNIQUES WILL BE USED IN 2012?

Facial analysis

NeuroMarketing

Gamification methods

Biometric Response

Prediction Markets

Visualization Analytics

Crowdsourcing

Virtual Environments

Eye Tracking

Mobile Ethnography

Mobile Qualitative

Apps' based research

Webcam-Based Interviews

Text Analytics

Mobile Surveys

Social Media Analytics

Online Communities

0% 10% 20% 30% 40% 50% 60% 70%

13%

11%

25%

10%

21%

24%

24%

22%

21%

43%

46%

40%

46%

45%

64%

59%

64%

9%

11%

11%

13%

16%

17%

19%

23%

31%

31%

31%

32%

35%

43%

53%

66%

66%

Research buyer or client

Research provider or supplier

Note: Among research buyers (n=149) and research suppliers (n=669).

FOUR DISCIPLINES CHANGING MARKET RESEARCHBehavioral Economics

Predictive Analytics

Neuroscience

Text Analytics

“RESEARCHERS MUST MAKE THE JOURNEY TO BECOME CONSULTANTS. THE JOURNEY REQUIRES A SHIFT IN HOW

RESEARCHERS DEFINE THEIR PURPOSE, IN WHAT THEY PROVIDE THEIR CLIENTS, IN HOW THEY DEFINE VALUE, IN HOW THEY WORK, AND IN THEIR ABILITY TO INFLUENCE

PEOPLE.

THE FUTURE ROLE OF MARKET RESEARCHERS CAN BE BOILED DOWN TO FOUR HEADLINES:

1) CONSULT, 2) SYNTHESIZE, 3) TELL A STORY, 4) TAKE A STAND.”

From New Roles for Marketing Researchers, S. Chadwick and I. Lewis. Leading Edge Marketing Research, Sage Publishing. Publishing Date Nov 2011

MAKING THE SHIFT TO CONSULTANTS

MR FIRMS ARE ALREADY SHIFTING

25%

35%

39%

Research Providers/ Suppliers

TraditionalBusiness ConsultantStrategic Insights

Note: Among research suppliers (n=268).

THE NEW COMPETITIVE SETQuant Qual

AnalyticsConsulting

LOOKING AHEAD: THE FORECAST• Surveys get smart, dynamic,

and short. Sampling models focus on macro targeting. Game mechanics are built into the interface. Trackers run in real time and are feed from CRM and social media platforms.

Surveys get smart:

• The skill sets of storytelling, connecting disparate data points to form recommendations, and applying the social sciences to understand human behavior will grow in importance.

Qualitative plays connect the dots:

• As technologies that help us understand emotional decision making mature and new approaches come to market, the merger with behavioral economics models will become the norm.

Once more, with feeling:

• Look for major IT players like Google, Salesforce, Facebook, Microsoft, IBM, Adobe, Yahoo, HP or Zynga to continue to make acquisitions & investments to use their data resources for insight generation.

Google gobbles up data collection:

• Not only will advances in text analytics increase the efficacy of this approach, but look for text analytics to also emerge as a game changer in both online search and big data analytics.

Text Analytics reads between the lines:

LOOKING AHEAD: THE FORECAST• 2012 major brands like P&G,

Coke, Unilever, etc.. Will follow through on their stated goals and will be looking for more partners that offer increased value beyond data collection and analysis.

Brands put their money where their mouth is:

• Social media and mobile technologies will continue to connect herdsmen in Africa, Wall Street executives, factory workers in China, shop owners in Germany and farmers in Brazil with each other and the wider world.

Going glocal:

• The science fiction of Isaac Asimov’s Psychohistory and Phillip K Dick’s Minority Report is the science fact of big players like HP, IBM, Google, Apple, and of smaller firms like Palantir.

Big Data = big bucks:

• If you don’t think mobile will continue to be THE defining technology of the next five years then I don’t know what else to tell you.

Mobile, mobile, mobile:

• New client demands, business realities, social trends, technology, business models, competitors, and advances in understanding human behavior are redefining how research is conducted.

Research is redefined:

WHERE IT IS ALL HEADED: MINORITY REPORT

http://www.youtube.com/watch?v=oBaiKsYUdvg

THE KEY TO THE FUTURE

WHERE DOES TRANSFORMATION BEGIN?

“Strategic differentiation does not occur by

delivering data, it occurs by redesigning thinking”

THE 4 AREAS WE MUST RETHINK

1. Client Needs & Expectations

2. People Skills and Capabilities

4. Process

3. Technology Enablers

Data Synthesis

Measurable Client ROI

Innovative Approaches

Leading-edge Technology

Curious & Creative

Delivering Impact

Strategic Insight

Consulting

CREATING A NEW VISIONBuilding a holistic model that is based on leveraging key values and strengths

in new ways to lead the future

NEW SKILLS FOR A NEW ERA

ANTHROPOLOGIST

FUTURIST

JOURNALIST

CONSULTANT

ANALYST

STRATEGIST

The Researcher of Today

The Researcher of the Future

WHAT ARE THE SKILLS FOR SUCCESS?

BRIDGING THE INNOVATION GAP: FINDING THE WHITE SPACE FOR GROWTH

WE MUST EMBRACE, SUPPORT, & FUND INNOVATION

Experimentation Mature Products

SOURCES

• Internal innovation

• Academia

• Tech Start-ups

• Business incubators

• Data scientists

• Client organizations

• Joint ventures

SUCCESS FACTORS

• Human capital

• Time

• Financial support

• Open networking

• Scalability

• Operational processes

• Incentives

MR MUST TRIANGULATE FOR SUCCESSBusiness Need• Data driven

economy• Behavioral

insights• Consumer

engagement

Innovation• Fund

experimentation

• Embrace evolving models

• Look for cross discipline connections

Value Proposition• Keepers of

insight• Voice of the

expressed & unspoken consumer need

• Drivers of change

THE FUTURE IS UP TO YOU; WHICH WAY WILL YOU GO NOW?