Tag Archives: news

Have you looked up from your phone yet today?

image from Mommywurk.com

Have you looked up
from your phone yet today?
On the phone, music in the other ear, drinking a morning
juice, all while Instagraming and
walking up from the subway stairs- let’s face it- people today are more busy
than ever.  We are the generation of
multitaskers who aren’t pleased unless we’ve done it all’and then some. This trend
has impacted how we live which down streams to how brands must connect with us-
what ads actually catch our
attention, what do we buy, how do we buy it, etc.
Brands must foresee these sorts of trends and accommodate unmet
needs before they arise. I’ve come across many great examples in my everyday
life which granted the idea to touch upon this subject. Think back to childhood-
the beloved Go-Gurt (yogurt in a tubular
stick for on the go)
your mom would send you of with as you ran out to the
bus. Google Glass allows you to basically do anything on the internet without
inhibiting your vision. Taco Bell’s new breakfast burritos combine all you
would want in breakfast into a neat one handed meal option.  Product, and
productivity
, continue to evolve which further drives our desire to
multitask.
How does this effect brand communication? Staring down at
our phones, we rarely catch a glimpse of that billboard or window ad. Now ads
must be strategically placed on our phones through use of encrypted cookies
based on your previous viewings, or geolocation for nearby stores. Brands must
also keep up, ensuring they identify with the slowly changing consumer while
staying true to their own brand heritage. This also opens opportunity for many
new brands to enter the mix who start with a fresh slate and can adjust to todays’
consumer needs with no consequences.
We’ve even upped the bar on the products we desire. We are
no longer happy with just a cooler to keep our food cold; we now need one that acts
as a blender and plays music too
. Remember when cellphones only made calls
and allowed you to play snake? Now performing as miniature computers, we are
almost incapable of human life without phones in our hand.
Today’s ominshopper has high demands for meeting all needs
and in a timely fashion. We want innovation that meets our demands and then
some. Brands must adhere to this in order to stay relevant.
At what point does this become too much. Will there be a day
when we no longer have time to sleep? Too many to-do items to check off and too
many products driving this ambitions way of life- what’s next? 

Janel Parker, Market Research Consultant
at SKIM, an international consultancy and marketing research agency, has a
background in Marketing and Psychology from Cornell University. Her previous
experience at a social media agency combined with her knowledge from SKIM
provide for a unique understanding of the relationships between social media
and marketing. She can be reached at j.parker@skimgroup.com.

Live from #Insightech15: revolutionize insights or become obsolete

A very future looking presentation was given by Marie Wolfe of Unilever on how she acquires tech startups to work with Unilever. The process was interesting and novel to a CPG company in itself, but more informative were three insights about how we are resistant to change.

Using the childrens analogy, she spoke of resistance to change about how we face resistance on things that are new to us. Key for driving (and not preventing) innovation!
The other trend was that of possibilities – they can paralyze, and in a decision space where we overwhelm consumers, we need to see how to best differentiate.

Another thrill came from how to continue to retain the ability to try things out – this helps to make accidental mistakes that can be lucrative (Coca Cola, Penicilin and Viagra came up as apt accidental discoveries).
And most importantly, similarly to a techonological adoption curve, the tip was to understand that even amongst people there is an adoption curve, and the key need was to recognize who can early adopt to a concept that can change the company.

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at s.sharma@skimgroup.com.
Follow him on
@sssourabh.

This Week In Market Research: 3/6/15 – 3/10/15

Big Data Is All About The Cloud: Picking the right infrastructure is key to becoming successful

Making Big Data Work: Going behind the cliche

All Knowing Algorithms: How Much Should Humans Help? 

GoToMeeting Redesigned For User Experience: Accommodating diverse work styles

The 4 Traps Of Internal Innovation

Why Your Business Must Embrace Social Media Yesterday: The evolution of social media and how your company can stand out

11 Twitter Mistakes To Avoid At All Costs

BrandYourself: Review: Best Individual Reputation Management Service

Behavioral Biometrics: Improving customer relationships

Bringing Accountability To Email Marketing: Square is using it payments platform as a foundation

About the Author:
Ryan Polachi is a contributing
writer concentrating his focus on Marketing, Finance and Innovation. He can be
reached at rpolachi@IIRUSA.com.

This Week In Market Research 2/2/15 – 2/6/15

Top 3 Data Collection Trends for 2015

Brandwatch Launches “Social Listening” Report for Retail: Findings on Facebook and Twitter

People Gives Market Research Surveys a Data Makeover: Using giveaways to collect data

How Social Promotion Will Dominate 2015: 4 Ways social will take over

Passwords Are Dead, Biometrics and The Future of Banking Security: Voice and fingerprint recognition are becoming more mainstream

Bitcoin’s Big Opportunity In Africa: Tech startups are deciding what role the currency will play

Why Knowing the ROI of Your Social Media Campaign is Important: Knowing what you’re spending time and money on is worth the time and money

Big Data: Credit Where Credit is Due via Financial Times

Trends of 2015: Mobile Pay and Wearable Tech Are Becoming Disruptors


4 Slick Ways To Expand Your Digital Branding Strategy

About the Author:
Ryan Polachi is a contributing
writer concentrating his focus on Marketing, Finance and Innovation. He can be
reached at rpolachi@IIRUSA.com.

This Week In Market Research: 12/15/14 – 12/19/14

3 Ways Big Data Is Helping To Build Better Cars

Big Data Analytics: Time for new tools are needed to pull insights

Does Your Data Scientist Have Chief Data Officer Potential? via Forbes 

Mining Location Data For Consumer Insights: Using geodata to better target consumers

Santa Using Big Data? 3 ways the big man is using big data

Why User Experience is Important to Your Website: Giving consumers better access to your brand

Why CMOs Are Turning Away from Big Data: Anxieties and skepticism

5 Customer Experience Fails That Make Entrepreneurs Suffer 

Big Data and Trucking: Learning how to put the data to work

About the Author:
Ryan Polachi is a contributing
writer concentrating his focus on Marketing, Finance and Innovation. He can be
reached at rpolachi@IIRUSA.com.

This Week In Market Research: 10/27/14 – 10/31/14

Market Research for Small Business, Is it Worth it? 90% of businesses have made their most important decisions with the help of market research

Big Data Taking Industries Storm: 84% of enterprises see big data changing their industries

Data Science Meets the Power of the Crowd: Harnessing the triple-Ds (Design, Development, Data)


How Mobile Users Think and Behave Online: Consumers want more from the mobile web

Using Business Intelligence to Achieve More Impact and Answers: 8 things to focus on

“Just Google it” The Big Business Version: via Fortune

Putting Together Your Competitive Intelligence Team: Structuring, Staffing, and Sourcing

Twitter + IBM = Greater Data Solutions for Marketers Dealing With Social Media Overload

6 Ways to Deliver a Better Customer Experience

How To Differentiate Customer Experience: Maintaining market share with faster product development times

About the Author:
Ryan Polachi is a contributing
writer concentrating his focus on Marketing, Finance and Innovation. He can be
reached at rpolachi@IIRUSA.com.

Live from #TMRE14: Data Visualization At the Speed Of Thought

Today in the Shopper Insights & Analytics track at The Market Research Event, Vinay Ramesh, Lead, Client Services, John Tomchek, VP, Business Development & Moises Cohen, Engagement
Manager at Analytics Quotient, discussed how to Move from Pretty Charts To Powerful Insights In Real Time.

Marketing needs data visualized right away not a month and am million dollars later.

The evolution of BI:

Scorecards
Analysis
Interaction and visualization
Foresight and Predictive analytics

4Ds of Good Visualization Tools:

Domain knowledge
Data undestanding
Design skills
Development Platforms

Best Practices:

Who is your consumer?
How does it reflect your company and culture?
Mock up, mock up, mock up
Segregate users and needs: high level and power users
Focus on ease: If you have to train for more than hour, this is a fail
Focus on data harmonization,
Think of capabilities for different data types
Choose the right model
Platforms need to be customized to your business needs

ABOUT THE AUTHOR

 

Valerie RussoFormerly a senior copy editor at Thomson Reuters, a research editor at AOL,  and a senior web publicist at Hachette Book GroupValerie M. Russo is editor at large of The Front End of Innovation BlogThe Market Research Event BlogThe World Future Trends Tumblr, the Digital Impact Blog, and also blogs at Literanista.net. She is the innovation lead and senior social media strategist for the Marketing and Business Strategy Division of the Institute for International Research, an Informa LLC., and her poetry was published in Regrets Only on sale at the MOMA Gift Shop. Her background is in Anthropology and English Literature. You can reach her at vrusso@iirusa.com or @Literanista.

This Week In Media Insights

Here is what has been going on this week:   

Binge Watching New Norm: Phasing out of “couch potato” and into normality

Multiple Screens for Focus? Separating and dividing tasks by screen

Netflix will pay you to Watch Getting paid to watch Netflix and be a “tagger”

Watching with a buddy (Tablet) Over half of the millennial population uses a tablet for activities related to the show they are watching

TV Networks Finally Catching Up Networks utilizing video on demand to capture more viewers

Illegal Streaming of World Cup Headaches for FIFA and Viaaccess-Orca

Second Screen Importance During World Cup BBC Sport said 70% percent of site traffic from mobile devices

TV Everywhere, Almost Usage has grown 246% year on year, but that figure needs perspective 

Millennial Women, not Cord Cutters TV’s share grew by 4% in the 4th quarter of 2013 

Can Binge Watching Kill You Watching too much can cause adverse health effects

MLBAM launches 120 Sports Twitter for sports a new media company

Over the Air TV is Dead Even though Aereo lost availability of signals will tempt others

Torturous TV Everywhere The difficulties of watching one season of “The Americans”

Nielsen to Start Counting Mobile Viewers If you watch a TV show on a smart phone or tablet, you have the option to be counted

About the Author: 

Ryan Polachi is a contributing writer concentrating his focus on Marketing, Finance and Innovation. He can be reached at rpolachi@IIRUSA.com.

 

The Man Who Invented the Synthesizer has a Lesson for Market Researchers

On the last day of FOCI14, Ray Kurzweil gave an inspiring
talk about rapid rates of innovation advancement, and how most people
underestimate them. Kurzweil
is uniquely qualified to talk about innovation; unlike most speakers, he has
actually accomplished it. He’s the inventor behind optical character
recognition (OCR), print-to-speech reading for the visually-impaired, and
perhaps most famously for the first music synthesizer that recreates orchestral
instrument sounds, including the piano. Use Dragon dictate software? Thank Ray.

So what does this have to do with market research? Why would
the Future of Consumer Intelligence have Ray as one of their featured keynotes?

The connection is actually pretty simple; we market researchers
struggle with innovation in our industry.  We often debate:
??    Which innovations are likely to be adopted by
actual paying customers (whether corporate researchers or research firms)?
??     Which ones are just hype?

After all, nobody wants to ‘miss the boat’, but we also don’t
want to get distracted by false hopes.

But while we struggle with it, Ray seems to have developed some
ways of thinking about innovation that may help.

Exponential versus
Linear Thinking

First, Ray promotes the power of exponential growth, which
he himself stated can be hard to understand. And, he said, the concept of exponential
growth can be met with skepticism. As evidence, Ray mentioned how in the early 1980s,
he predicted a worldwide internet connecting 100s of millions of people by the late
90s. But back then, his colleagues thought he was crazy because at the time the
ARPANET (the DOD’s network which is often credited as the ‘first’ version the
internet) was connecting only 2,000 scientists. But Ray points out that their assumptions
about potential growth and scale was based on linear thinking. He was thinking exponentially. And now we know, he was right.

Of course, predicting future outcomes based on ‘exponential’
growth assumptions isn’t perfect. Though Ray asserts that of his many predictions,
86% have been correct.

Or more simply: some innovations are poised to be
revolutionary, and they will grow exponentially.

So are there innovations in market research that y be hard
to grasp because they represent ‘exponential’ versus linear growth? Hold that
thought! Let’s get to part two of his thesis first.

All in the Timing

In part of his FOCI14 keynote, Ray pointed to the well-known
hype curve, a model of thinking about the phases of adoption for innovative products.
While the hype curve’s validity can be debated, and is (see
article
), the basic concept is certainly supported by lots of anecdotal cases.  An innovative new technology or invention
gets launched, and phases of early-enthusiasm lead to over-inflated expectations
(hype), get followed by phases of disillusionment, then ultimately, actual
growth. Well, for successful products, growth. For the others, a slow death may
be the outcome.

Or more simply, some ideas put forth as ‘innovative’ simply
are not destined for success; these things will likely die in the
disillusionment phase, or remain very niche markets.

Exponential Thinking
Tempered by Timing

As Ray was giving his talk, his two lessons seemed to
intersect. On one hand, we have to be prepared for innovations that truly can
develop at an exponential rate’causing significant disruption to existing ways of
doing things.  On the other, we have to
be cautious about overhyped innovations’not every innovation presented as an ultimate
growth area will survive the disillusionment phase; some will simply die.

How does this apply to market research? I see three take aways:

1.   Watch out for ‘innovations’ in the hype phase.
Big data and social media research both seem to be on the cusp of the disillusionment
phases; overhyped and maybe overpromised. Does that mean they will end up
discarded? I don’t think so (I for one have had some great successes with SMR),
but rumors of their market research world dominance will certainly be adjusted.

2.   Have a way of assessing if something is truly
innovative
. We have to be wary of what gets promoted as innovative. To me something
is only a market research innovation if it fundamentally changes the cost,
speed and/or qualify of our work as researchers.  Something that is cool, but doesn’t actually
bring anything new to the table in terms of how we discover or measure customer
attitudes and behaviors, is likely to be an interesting diversion’not something
destined for exponential growth.

3.   Take lessons from past market research innovations
that have grown exponentially
. The only example I can think of that comes
close is the growth of online surveys. No matter how you measure it, the growth
has been more than linear: number of projects, number of completes, or revenue (from
software sales, online panel sales, and related online survey tools). So ask
yourself, of all the solutions being put forth as innovative in research today,
do you see any as likely to grow as rapidly as did online surveys?

This post was written by Kathryn Korostoff. Kathryn is the President of Research Rockstar, the only independent company dedicated to market research training (online and in-person).  Many of Research Rockstar’s classes are MRA-certified, and Research Rockstar offers class bundles leading to MRA Certification. She is also offering FOCI attendees a free class here: CLICK.   KKorostoff@ResearchRockstar.com, 508.691.6004 ext 705, @ResearchRocks.

 

The Role of Social in the Purchase Process for Millennials

Ramona Harvey of Ebay talked activating some truly insightful learnings from her research with millennials, and how social media influenced their purchases. The overall point was that millennials are rather obviously affected by social media, validated by research; however they do trust a brand’s social sites as much as a friend, showing trust to be a huge opportunity area to capitalize on.

It was great to quantify that millennial are more likely to influence a personal decision by checking social media, with 25% of them pointing a clear difference. Plus, heavy social shoppers are not only influenced by Facebook, but also by Youtube, as well as Twitter and Tumblr in particular.

Millennial are also very driven by passion for a product or category. Their passion determines the amount of time they will invest in the pre, during and post phase of a product purchase, a mindset that is very useful to marketers and researchers alike.

 

And lastly, it was interesting to see that Facebook, Amazon and Youtube were the top influencers for non-social shoppers, showcasing the more global and segment-free appeal of these channels.

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at s.sharma@skimgroup.com.
Follow him on
@sssourabh.

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at s.sharma@skimgroup.com.
Follow him on
@sssourabh.

- See more at: http://themarketresearcheventblog.iirusa.com/2014/04/crowdsourcing-and-social-media.html#sthash.sVAUnJ9x.dpuf

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at s.sharma@skimgroup.com.
Follow him on
@sssourabh.

- See more at: http://themarketresearcheventblog.iirusa.com/2014/04/crowdsourcing-and-social-media.html#sthash.sVAUnJ9x.dpuf

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at s.sharma@skimgroup.com.
Follow him on
@sssourabh.

- See more at: http://themarketresearcheventblog.iirusa.com/2014/04/crowdsourcing-and-social-media.html#sthash.sVAUnJ9x.dpuf