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  • Management team of of Customer-Centric Leaders
  • Analyzed over 200 trends to come up with top 10: http://blog.vovici.com/blog/bid/22170/Envisioning-the-Future-at-Ford
  • http://blog.vovici.com/blog/bid/21579/CRM-Trichotomy-Operational-CRM-Analytical-CRM-Social-CRMhttp://blog.vovici.com/blog/bid/21676/Innovation-Your-New-Core-Competency
  • http://blog.vovici.com/blog/bid/21579/CRM-Trichotomy-Operational-CRM-Analytical-CRM-Social-CRM
  • http://blog.vovici.com/blog/bid/21594/EFM-The-Who-When-Why-Where-What-of-Surveying
  • Technical stability, Nonexclusivity, Agility, IP, Financehttp://blog.vovici.com/blog/bid/21676/Innovation-Your-New-Core-Competency
  • http://blog.vovici.com/blog/bid/21676/Innovation-Your-New-Core-Competency
  • http://blog.vovici.com/blog/bid/22917/Online-Community-Platforms-A-Macro-Overview-and-Case-Study

2009 Market Research Dynamics 2009 Market Research Dynamics Presentation Transcript

  • 2009 Market Research Dynamics
    Lessons from Across the Industry
    December 3, 2009
  • About Our Speakers
    Jeffrey Henning Founder & VP Strategy
    Co-founder of Perseus, which was combined with WebSurveyorto form Vovici in 2006. Earlier roles as a market researcher at BIS.
    Brian KomaVP Research
    Founder of Stratagem Marketing, acquired in 2004. Earlier, in charge of global enterprise-systems marketing at Legent Corporation.
  • About Vovici
    SELECTED CUSTOMERS
    60%
    Of the Fortune 500
    2,000
    Customers in over 47 countries
    150
    Million completed surveys in more than 115 different languages.
    16
    Years of industry experience, leadership and innovation
    KEY PARTNERS
  • Conferences
    Gartner CRM, AMA MRC, ESOMAR ORC, MRA FOC, CASRO DC
  • Your Webinar Requirements
  • Topics You Want Covered
    Affordable/DIY
    B2B
    Qual/Quant
    Quality
    Survey
  • Agenda
    Trends
  • Three Categories of Insights to Research
    Human Insights
    Universal
    “Unchanging”
    Lifestages
    Psychology
    Ergonomics
    Cultural Insights
    Vary by culture
    Change slowly
    Lifestyles
    Values
    Macro trends
    Marketing Insights
    Vary by market
    Change rapidly
    Product category
    Consumer
    Channel
    Source: Coca-Cola
  • Aging Population
    Changing Physiology
    Consumer Is King
    Rising Power of Women
    Ethical Consumption
    Top 10 Macro Trends
    Crisis of Confidence
    Careful Consumption
    Safety & Security
    Information Addiction
    Information Overload
    Source: Ford
  • Trends in Quantitative Research
    Source: Transition Strategic Corp.
  • Net Organizations Increasing Use of Mode in 2010
    Please indicate the usage you anticipate for your business in 2010 compared to 2009: Increase, No Change, Decrease
    n=512
    Source: Rockhopper Research
  • Customer Relationship Management
    “CRM is the most fruitful innovation opportunity for your company and your customers.” – Kathy Harris, Gartner VP
    Source: Gartner
  • Customer Experience Initiatives Beyond the Survey
    Source: Gartner
  • State of EFM - 2009
    What? Feedback hubs, central survey repositories
    Why? Oversurveying & mis-surveying
    Who? Vovici & ConfirmIt then 60-70 other vendors
    When? Now! “Your competitors are getting better at this!”
    Where? By department and across the organization. In online communities.
    Source: Gartner
  • Agenda
    Online Communities
  • Engage Partners in Innovation
    Source: Gartner
  • Crowdsourcing
    Innovation Jams
    Idea Marketplaces
    “If you don't engage your customers in innovation, someone else will.”– Kathy Harris, Gartner VP
    Source: Gartner
  • Communities: Open vs. Closed, 1 Client vs. Many
    Source: BrainJuicer
  • From Standing Community to Project Communities
    “We have a mandate at General Mills to move as much of our qualitative research online as possible.”
    As a result of 22 community projects:
    Focus on Discovery
    Smaller communities
    Shorter duration communities
    Larger incentives
    Geographically centered
    • Provides easy access to consumers
    • Yields quick feedback on insights and attitudes
    • “Spontaneity allows for flexibility”
    • Targeted research
    • Viral marketing
    • Many research projects are quite small and targeted, leading to shorter, more focused questionnaires
    ABC Studios Advisory Panel: Pros & Cons
    • Unable to verify that members aren't reporters or competitors
    • Leaks of sensitive material to the entertainment blogs and press
    • Piracy of episodes posted
    • Requires ongoing investment of time and money to recruit new members
    • Qualitative data is voluminous and time consuming to analyze
    • During off-production times need to keep members engaged
    • Victim of success - get pushed for rapid turnaround
  • Kitchen 2020 Co-Creation
    Five week-long phases
    Problem analysis and individual idea generation
    Idea sharing and enrichment
    Evaluation by customer
    Evaluation by professional
    Selection
    150 participants with unusual activities
    Create moodboard (collage)
    Picture associations
    Document current frustrations
    Explore scenarios
    Unlike MROCs, members could see each other’s ideas but not discuss
    Source: MetrixLab
  • MROC Suppliers Range from Full Service to Technology Only
    Internal Bandwidth
    Out of Pocket Cost
    Source: DRI
  • MROC Member Activities beyond Discussions
    Static ethnography
    Representational images
    Idea banks
    Insight games
    Cartoon captions
    Personal diaries
    Collages
    Fun polls and quizzes
    Team activities
    Source: DRI
  • Watch Configuration Tool
    Enables average user to playfully create
    • 24 components
    • 108 gems
    Vote and comment on one another’s designs
    Over 1300 configurations submitted
    Extensive quantitative analysis of gems and components used
    Source: HYVE AG
  • Australian Consumers’ Perspective on Research Methods
    n=1,082
    Source: Colmar Brunton
  • Web 1.0 Surveys vs. Web 2.0 Surveys
    Rich media buttons vs. radio buttons took 20% longer to complete
    Questions in 2.0 survey were 2x times more likely not to be read
    36% variance between results from slide vs. from radio buttons
    Source: element54
  • Agenda
    Social Media
  • The Screen Age
  • Social Media is a Rich Source of Qualitative Insights
    Random-Sample Surveys
    • Closed questions
    • Limited response options
    • Can’t get the story behind the story
    • Provides hard data that can be extrapolated to a larger audience
    Qualitative Research
    Social Media
    • Open-ended comments
    • Provide the Story behind the story
    • Can’t extrapolate to a larger audience
    Quantitative Research
  • Blog Content Analysis
    Gartner sees marginal to no ROI from its clients’ investments in blog content analysis
    “It’s eye candy: management likes to see it.”
    Gartner sees no strategic value in connecting customers to their social networks
    In terms of concrete ROI, instead learn the language of the Voice of the Customer:
    Ask more open-ended questions in surveys and use text mining on them
    Use text mining on the keywords customers use in your web site’s search box
    Source: Gartner
  • Guidelines to Using Blogs in Market Research
    Caveat: Online persona does not always reflect offline persona
    Remember bloggers’ motivations and concerns about privacy and security
    Recognize impact of the audience and interaction on what the blogger shares
    Process
    Engage by acquiring bloggers as sample
    Eavesdrop to analyze online statements
    Connect in order to understand context of what is being shared and to authenticate identity
    Source: Gfk NOP
  • Surveys to Social Media: Apples to Orange Juice
    Social media's impact is disproportionate to the level of activity
    The data is dirty
    Brands with unique names are easier to research
    Topics are not always organized to answer our questions
    Social media is not representative, only directional
    Price
    Premium OJ
    Ingredients
    Confusion
    New Design
    Reversion
  • Survey Research Steps, with Social Media
    Study Design: Use social media to frame hypothesis
    Sample Selection: Identify potential respondents
    Questionnaire Design: Learn language of respondents; develop choice lists
    Fielding the Survey: Invite respondents by Twitter
    Analysis: Add tweets for color commentary
    Source: Vovici
  • Surveys and Biometrics
    MTV Networks researched ad awareness
    Used biometric vests and eye tracking
    Follow-up survey for brand recall
    Focused attention: 30% for TV commercials, 80% for TV programming, >95% for videogames
    15-second preroll commercials had double the recall of 30-second commercials
    Prerolls more effective before action games rather than cognitive games
    Strategically integrating branding into the game resulted in 80% recall
    Source: Innerscope Research
  • Agenda
    Analysis & Communications
  • 7 Principles for Researchers to Collaborate with Executives
    Be clear on the Essential Question
    Lead a hypothesis flip-chart session
    Practice smoke-jumping
    Reveal the surprises
    Steer clear of the squiggly-line syndrome
    Avoid the “Alice in Wonderland” meeting
    Make your bottom-line your top line
    Source: Chris Frank
  • 8 Principles for Researchers to Become “Deviant” Leaders
    Plan: Know the company’s strategy
    Position doesn’t matter
    Eliminate Project mentality
    Profit: seek ways to improve the bottom line
    Accelerate the Pace of change
    Don’t succumb to the Pressure
    Develop Partnerships
    Perfection: Forget it
    Source: YRC Worldwide
  • Overcoming Objections to B2B Research
    “We already know that.”
    “They just won’t get it.”
    “It’s too complex.”
    “It’s too small.”
    “You’ll never find them.”
    “They’ll never tell us that!”
    “It’s way too expensive.”
    Source: Strategic Spark
  • Juggling Key Performance Indicators
    Gartner client had 137 “key” indicators
    As practical matter, she concentrated on 7
    Unfortunately her manager cared about a different 7
    No manager should have more 5-9 KPIs
    Can’t keep too many “balls in the air”
    World record for juggling measured in hours for a few items, in catches for many items
    Select KPIs with care
    Performance indicators are often tracked because they can be, not because they should be
    Focus on metrics that drive Life-Time Value
    Source: Gartner
  • Agenda
    Quality
  • Survey Research: Internet v. Telephone
    Probability-sample Internet surveys more accurate than RDD
    Probability-sample Internet surveys contain less random error
    Internet-survey respondents are less susceptible to social desirability bias than telephone respondents
    Internet-survey respondents are less susceptible to satisficing
    Response rates are essentially uncorrelated with the accuracy of probability-sampled surveys
    Opt-in Internet surveys are consistently less accurate than probability-sampled surveys
    Accuracy of results of opt-in Internet surveys vary considerably across surveys and within surveys
    Accuracy of results of opt-in Internet surveys vary considerably across panels
    Source: Jon Krosnick
  • Microsoft CMRI Embracing Six Sigma
    For its research on research, the Microsoft Central Market Research Insights team has adopted Six Sigma
    “We are reducing the number of defects study by study by study.”
    “We averaged 12 defects per final report in a six-month period to 3 the next period down to 2 most recently."
    “We spend millions of dollars that affects hundreds of millions of dollars in marketing spend that affects billions of dollars in revenue. We have to get it right.”
    Source: Microsoft
  • Meta-Analysis
    • Most organizations fail to study and improve their decision-making process
    • “We have to create a culture of auditing the decisions.”
    • Identify ways to make better decisions in the future
    Δ Presence in Success – Presence in Failure
    % Satisfactory Projects With Best Practice
    Source: McKinsey
    Source: Gartner
  • Quality Initiatives
    ISO 20252 Standard
    Survey research quality
    All stages
    All mode
    ISO 26362 Standard
    Access panel
    Quality Enhancement Process
    Panel level
    Sample level
    Survey level
    ESOMAR Code
    8 key principles
    1948
    E26
    Panel purchase FAQ
  • Why Your Management Doesn’t Listen to You
    With careful planning and research, challenge executives’ sacred cows
    “Appointment viewing” believed by TV execs but even Sopranos viewers only watched 3.7 of 10 episodes (the high)
    Elephant in the room: Consumers often lack true awareness of their actions
    Bad research perpetuates myth of consumer self-awareness
    Integrate behavioral metrics into your research
    Source: Jack Wakshlag, Time/Warner
  • Agenda
    Q&A
  • Our Presenters Welcome Your Questions
    Jeffrey Henning Founder & VP Strategy
    @jhenning
    jhenning@vovici.com
    1-800-787-8755 x 550
    To request a demo or to talk with a sales advisor:
    sales@vovici.com
    1-800-787-8755
    Brian KomaVP Research
    @bkoma
    1-800-787-8755 x 551
  • Check Out Our Blog
    http://blog.vovici.com
  • About Vovici
    Customer Momentum
    Value Proposition
    Software 500 Top 10 in 2009 for growth
    Existing customers drive half our growth
    Over 2,000 customers, and 60% of the Fortune 500
    Responses have increased 500% in the past 18 months
    Consistent Double-Digit Growth
    SaaS revenue growth
  • Vovici Offers a Complete Feedback Application