Conference
5 Ways Traditional Market Researchers Can Stay Relevant
By: Amanda Ciccatelli,
Content Marketing & Social Media Strategist, Informa
Content Marketing & Social Media Strategist, Informa
Insights have become a vehicle for influencing marketing and
ultimately, the world. That's why we asked Adam Coleman, Director, Consumer and
Market Research, Microsoft, for his advice to traditional researchers on
staying relevant in the changing market research and consumer insights space.
ultimately, the world. That's why we asked Adam Coleman, Director, Consumer and
Market Research, Microsoft, for his advice to traditional researchers on
staying relevant in the changing market research and consumer insights space.
Here is his advice:
1.
Experiment.
Experiment with new approaches to solving problems ' use the 70/20/10 model
to look at your budgets and spend at least 10% of dollars (if you can) on
trialing side by side tests.
Experiment.
Experiment with new approaches to solving problems ' use the 70/20/10 model
to look at your budgets and spend at least 10% of dollars (if you can) on
trialing side by side tests.
2.
Use
Multiple Data Sources. Ensure you are using (or assessing) multiple data
sources which may require you to 'up' your collaboration skills with teams you
may not previously have thought you'd need to work with. Particularly as Social
Intelligence and Behavioral data come to the fore.
Use
Multiple Data Sources. Ensure you are using (or assessing) multiple data
sources which may require you to 'up' your collaboration skills with teams you
may not previously have thought you'd need to work with. Particularly as Social
Intelligence and Behavioral data come to the fore.
3.
Get
Experience. Get experience to get comfortable with these new types of data
sources so you have at least an educated understanding of them and their
limitations/advantages - don't get left behind.
Get
Experience. Get experience to get comfortable with these new types of data
sources so you have at least an educated understanding of them and their
limitations/advantages - don't get left behind.
4.
Pay
Attention to Innovation. Don't jump to use the first new shiny approach you
see! There is so much innovation going on that a new firm, or one of the bigger
firms with Innovation at the center, may have a better solution. Increase your
networking with industry peers, or meet with other non-competitive firms who
you can share new thinking with.
Pay
Attention to Innovation. Don't jump to use the first new shiny approach you
see! There is so much innovation going on that a new firm, or one of the bigger
firms with Innovation at the center, may have a better solution. Increase your
networking with industry peers, or meet with other non-competitive firms who
you can share new thinking with.
5.
Don't
Forget the Core Principles of Research. Don't get away from what are core
principles of research, whatever the data or information formats ' Continue to
ask yourself these types of questions: Do we have research learning or are
there secondary sources that can already answer the question? Is it
representative of the audience, market, or other requirement? What level of
confidence do we need to answer the question ' hence, can we assess the
significance to the level we need? Does it truly answer the business question
at hand?
Don't
Forget the Core Principles of Research. Don't get away from what are core
principles of research, whatever the data or information formats ' Continue to
ask yourself these types of questions: Do we have research learning or are
there secondary sources that can already answer the question? Is it
representative of the audience, market, or other requirement? What level of
confidence do we need to answer the question ' hence, can we assess the
significance to the level we need? Does it truly answer the business question
at hand?
'The world of product development and marketing has simply sped
up in almost all industries,' Coleman explained. 'There are more choices for
customers every day, and more and more smaller competitors coming into markets
they were not in before. Keeping ahead of the competitive threats and
responding quickly requires even more agility without losing the appropriate
research quality needed to help guide decisions.'
up in almost all industries,' Coleman explained. 'There are more choices for
customers every day, and more and more smaller competitors coming into markets
they were not in before. Keeping ahead of the competitive threats and
responding quickly requires even more agility without losing the appropriate
research quality needed to help guide decisions.'