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Winds of change

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  • 1. WINDS OF CHANGE-SWEEPING MR INDUSTRY idStats
  • 2. Challenge ..To Move Beyond ..High Challenge For Market Research TIME & COSTLow Low STRATEGIC VALUE High (PERCEIVED)
  • 3. ..By Recognizing & Harnessing TheWinds of Change …
  • 4. Winds of Change (1)- ‘Changing Face Of Data Collection ’ Face to Face Interviewing “ In the past “market research was the domain Telephonic /Emails of few”. Agency seen as ‘only conduit” to voice of the customer. However with “technology” democratization of research is underway”Online Panels/ Mobile Panels / Social networks
  • 5. Winds of Change (2)- ‘Increased Dependence on Big Data’SCENARIO 1 : ABC TELECO (Year 1998) Churn Rates spike Key Information Used for Decision Making :  Primary Research i.e. analysis of variables impacting Loyalty Index in ongoing primary research. Commissioned another adhoc primary research to map stated triggers for churn Action Taken : Mass Campaign to address “issues” SCENARIO 2: ABC TELECO (Year 2011)  Churn Rates spike  Key Information Used for Decision Making : Decision making is moving beyond  Big Data : Looked at behavioral profiles of just primary data to being multiple Customers who churned & Mapped behaviors data sources led. ‘In the era of big most closely linked to churn  Primary Data : Analysis of Variables impacting data; more isn’t just more . More is Loyalty Index in ongoing track different”  Action Taken : Micromarketing to address “issues”
  • 6. Winds of Change (3): Changing Nature of “ Brand Conversation’s’ Panel Communities/ Social Networks leading To Crowd sourcing & Co creation Power of Social Networks O&M creative head tracked down and Unleashed: New Gap Logo, reached out to Jonathan Mak Long; Despised Symbol of Corporate who had previously gained internet Banality, Dead at One Week acclaim for his Steve Jobs tribute
  • 7. Winds of Change (4): Ability to Go Beyond StatedCurrent Research Methodologies Anchored People don’t (or can’t) in Rational Decision Making tell us everything Need to Go Beyond The “Stated”
  • 8. Against this Dynamic Context:“Striking A Balance???”
  • 9. Against this Context: “Striking A Balance”Is Reaching this Balance Feasible? Is Reaching this is balance is not If so how can this balance be feasible? Why Not? Of the 3 needs achieved? which two in your opinion be bundled ? Why?Balanced Approach Method Challenge To Time Balance Data Collection Data Collection Analysis AnalysisWeaving The Story Weaving The Story
  • 10. id statsResearch & consultancy