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Porter Research

What’s the Future of Market Research? It May be Simpler Than You Think.

Kitty Brigham, Market Research Strategist
July 6, 2010

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Research basically comes down to two things, according to market research guru Joel Rubinson of the Advertising Research Foundation: "quantifying the expected and listening for the unexpected." And that "listening for the unexpected" is the part that is critical for companies to drive innovation, new product development, and ultimately, market share and future growth.

There is much discussion of new market research methodologies using social media to gain insights within user communities. The thought is that these online networks, with a more open forum, will allow participants to bring up the ideas and issues on their minds - they will control the agenda.  In addition, marketers are turning to observational research - including everything from videography to eye tracking to functional MRIs - to study habits, buying patterns and decision-making. 

But it all still comes down to listening, and that, in turn, often comes down to asking the right person the right question. Marketers will need to continue to use a variety of methodologies - everything from telephone interviews and online focus groups to still-in-development methods including gaming-type simulation technologies - to address their clients' unique needs and audiences. Clients are looking for:

Speed: Corporations are dealing with compressed time frames for making decisions about product launches, strategic initiatives and changes to sales processes. Smaller, more nimble boutique market research companies will be well positioned to address these demands for agility and quick turnaround.

Strategic Recommendations: The days of just crunching data are over.  Companies are looking for insight and analysis to use research in meaningful ways, and marketing research professionals are being pulled into a wider strategic role within their corporate clients' organizations.

Insight into Information Processing: Traditional methods of communicating with customers by pushing information down to them have been replaced with a whole new dynamic of information sharing on a more horizontal level, with peer-to-peer recommendations, online content and other sources that consumers are selecting themselves. Marketers have to be in tune with customers' preferred communication methods and understand purchasing influencers.

Porter Research recently conducted online focus groups for two clients whose projects entailed meeting the challenges of producing actionable results and determining information-gathering preferences within short time frames.

In one case, an online focus group enabled the client to get quick feedback on a series of advertising messages for its patient safety solution. Participants enjoyed the convenience, peer interaction and anonymity of responding via an Internet forum. And the client received specific, actionable feedback to rework the ads for clarity and relevance to the target audience of hospital administrators.

In the other case, the client was able to pose a series of questions to healthcare delivery networks regarding their future healthcare information exchange (HIE) requirements. The interactive nature of online focus groups provided the client with true insight into technology needs of accountable care organizations (ACOs), patient-centered medical homes (PCMHs) and others on the forefront of new healthcare delivery methods emerging from healthcare reform.

Listening for the voice of the customer will need to be an ongoing process for marketers, and market research will expand beyond "snapshot views" of customers at a particular time. Future-thinking companies will use market research to integrate all functions within their enterprise to collectively move forward.







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