03/25/2016

KEY TRENDS IN MARKET RESEARCH

In late February, AKA was represented by Janette Roush and Sam Gates at a two-day Market Research conference, featuring over 90 exhibitors and 70 workshops. Presenters delivered case studies, best practices, new research findings on key trends, and more. Brands represented at the conference included PepsiCo, IBM, Amazon, Under Armour, Facebook, and Twitter.

Here are our Top 5 takeaways from the conference:

1. Survey design is a lesson in psychology.

 When asking someone about their emotions, a researcher needs to be careful. Emotions are complex—they are both conscious and unconscious. Asking someone “how does this ad make you feel” is unnatural and leads to bad data. Garbage in, garbage out.

2. People are becoming more willing to trade data for service.

There are 8 different data types that people are willing to share today, including location, biometric, and relationship. This is because brands are providing services that provide enough value to the consumer to convince them to share this sensitive information. Brands are gleaning extraordinary findings about their customers through their apps and phone usage, leading to better products and better marketing.

3. Quant+Qual or Qual+Quant?

 The order in which one conducts your Quantitative and Qualitative research has been up for debate for years, and the consensus has been to use Quantitative research first to inform the line of questioning for Qualitative research. However, some new studies are showing that the inverse may be more impactful. This is because Qualitative research generates intrinsic findings that can eliminate an entire line of Quantitative surveying. This saves money, time, and sharpens the project’s focus before asking thousands of people to take a survey.

4. If you’re not thinking about Millennials, you’re in deep trouble. By 2020, 1 in 3 adults will be a Millennial.

 Ypulse shared significant insights from their panel of 1,000 Millennials—which they survey monthly— specifically on how to advertise to a generation that is not surprised by advertising anymore. The keys to success include being unique, creating surprise, behaving like a human, and being “mobile first.” Click here for more from this session

5. Neuro insights are not science fiction.

 Researchers have a new sexy quantitative surveying Methodology: using an EEG. Through monitoring a respondent’s brain, researchers are learning the hidden effectiveness in TV advertising and advising brands on how to make their advertising more memorable. Other new methodologies that rely on medical devices include eye-tracking and heart rate monitors.