The Future of Market    Research in 2015        Merrill Dubrow              May 3, 2011
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 There is a chance (although slim) I might say  something of importance One of you will definitely say something  import...
Hopefully one or two ideas/thoughtsthat will make you scratch you head  and say that could really happen                  ...
DISCLAIMER    Lenny & IIR haveabsolutely no idea what is     included in this presentation or what Ihave planned for the n...
The most important 5 years in thehistory of market research is upon us. Ibelieve if the research industry doesn’t   get en...
 Will we one day be "embarrassed" by the  research we are conducting today? Do we really need market research when  we c...
 The word survey is outdated and has a  negative connotation associated with  long, boring questionnaires. Why is the ma...
 How we do things How we conduct  research What methodology  we use How fast we deliver it How often are we right    ...
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AB   CD E       FGH   I J K      LMN   OPQ        RSTU   VWX        YZ     BUT HOW?                 33
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More than 500  Launched                 million activeFebruary 2004                      users1.8 billion in    Since Janu...
 Shared links: 1,000,000 Tagged photos: 1,323,000 Event invites sent out: 1,484,000 Wall posts: 1,587,000 Status upda...
190 million Launched                    visitors July 2006                   monthly                 Since February45 mill...
Launched         70 million  May 2003         members243 million in    Add 1 million revenue last    members every     yea...
 Skype Introduces 10-Way Video Calling Skype and Facebook to Announce  Partnership New and Improved Moderation Features...
 Access to millions of people Platform for lots of different kinds of  research Opt in They are TRUSTED Today/Tomorro...
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 Pay for Starbucks coffee with your  Blackberry Check-in for your next American Airlines  flight with your Blackberry G...
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94,937 Comments About     Vodka Last Week  Mostly About Smirnoff      & Grey Goose#1 Topic: Flavors of VodkaMost Talked Ab...
 Anyone & everyone can do this:   –   People in our industry   –   People who want to get into our industry   –   Everyon...
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Ok, Now I Am Absolutely                                                        Understanding                    Implementa...
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 Everything you do! Everything you say! Everywhere you go! Everything you buy! Will be monitored!          This is ha...
 Current   –   Coupons   –   Email                   Merrill Dubrow has a   –   Banner ads               really nice tie ...
 Current   –   Coupons   –   Email                  Raise your hand if you   –   Banner ads                 want a prize!...
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 Easy to pinpoint location of targeted  audiences   – Leads to:      • Knowing what people are doing      • Location rele...
 Information for discounts Get a star/points Credit recognition Palm Hotel in Vegas   – More Klout     • More importan...
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Good marketing is successful at reaching people when they aremost interested in talking        with you!                  ...
Good RESEARCH is successful at reaching people when they aremost interested in talking        with you!                   ...
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Past   Current   Future                          78
 Departments are getting smaller Less primary research team members Less partners                   I don’t even know w...
 Less ”big” projects   – Brand identity   – Segmentation Lots of pricing research Speed is the biggest factor for award...
Stan Sthanunathan VP Strategy ofGlobal Insights, Coca-Cola              Michele Adams VP, Shopper &              Customer ...
 Are trying to keep up with all the  technology and struggling Knowledge base has to be at a high level  right away   – ...
   Add value everyday   Invitations to much more strategic meetings   Partner summits   Interaction with many differen...
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MarketingMarketing   Research                        85
 Research NEEDS to be more important Need to make sure research is integrated  into marketing Need our research present...
 Most successful researchers   –   Are GREAT marketers   –   Make recommendations that really matter   –   Turn the insig...
In my opinion the research industryneeds to hire smart, inquisitive, math-oriented, socially networked, database    profic...
 Insight Implementation Officer Chief Innovation Officer Director of Text Analytics Chief Creatologist (HP)       I’ve...
 Is REALLY pay attention to the small  technology companies   – Why      • Most innovation comes from them      • Maritz ...
 Be aware      • Crowdsortium - new association (33        comp.) started in October      • NewMR Virtual Festival 2010 ...
Eric SwayneBen Smithee                         Senior Social / Digital Strategist                         at Rockfish Inte...
New IBM ad states that66% of all new products   have some type of computer intelligence        built in                   ...
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 WOMMA Word MASHABLES AdAge Daily eMarketer MRWeb Trendwatching  – 11 crucial consumer trends for 2011 Tom H.C. And...
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To keep the discussion going:          Merrill Dubrow          972-983-0416merrill.dubrow@marcresearch.comwww.marcresearch...
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The Future of Market Research

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Merrill Dubrow, President and CEO of M/A/R/C Research, forecasted the future of the industry to over 200 attendees at IIR's Technology Driven Market Research Event in May 2011.

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The Future of Market Research

  1. 1. The Future of Market Research in 2015 Merrill Dubrow May 3, 2011
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  25. 25.  There is a chance (although slim) I might say something of importance One of you will definitely say something important – clearly someone from the west coast! I will be calling on people I will be giving out a few gifts You may actually learn something 25
  26. 26. Hopefully one or two ideas/thoughtsthat will make you scratch you head and say that could really happen 26
  27. 27. DISCLAIMER Lenny & IIR haveabsolutely no idea what is included in this presentation or what Ihave planned for the next 45 minutes. 27
  28. 28. The most important 5 years in thehistory of market research is upon us. Ibelieve if the research industry doesn’t get entrenched and embrace newtechnology, it will change the industry forever. This will be in a negative way and dramatically impact the overall revenue of the research industry forever! Merrill Dubrow September 2010 28
  29. 29.  Will we one day be "embarrassed" by the research we are conducting today? Do we really need market research when we can generate insights through analytics? Does data mining really have anything to offer for market researchers? or have vendors overpromised? 29
  30. 30.  The word survey is outdated and has a negative connotation associated with long, boring questionnaires. Why is the market research industry slow to innovate? Whats ailing focus groups? Forget about surveys and interviews! Apps are the future of research! 30
  31. 31.  How we do things How we conduct research What methodology we use How fast we deliver it How often are we right Glenn Frey said it right The Heat Is On! 31
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  33. 33. AB CD E FGH I J K LMN OPQ RSTU VWX YZ BUT HOW? 33
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  38. 38. More than 500 Launched million activeFebruary 2004 users1.8 billion in Since Januaryrevenue last 2009 most used year social network 38
  39. 39.  Shared links: 1,000,000 Tagged photos: 1,323,000 Event invites sent out: 1,484,000 Wall posts: 1,587,000 Status updates: 1,851,000 Friend requests accepted: 1,972,000 Photos uploaded: 2,716,000 Comments: 10,208,000 Messages: 4,632,000 Likes: 7,657,000 39
  40. 40. 190 million Launched visitors July 2006 monthly Since February45 million in 2009 third mostrevenue last used social year network 40
  41. 41. Launched 70 million May 2003 members243 million in Add 1 million revenue last members every year 12 days 41
  42. 42.  Skype Introduces 10-Way Video Calling Skype and Facebook to Announce Partnership New and Improved Moderation Features for LinkedIn Groups A Beginner’s Guide to Facebook Analytics Twitter ‘To Launch Analytics Product’ 42
  43. 43.  Access to millions of people Platform for lots of different kinds of research Opt in They are TRUSTED Today/Tomorrow – Communication of choice Looking for revenue Already took a swing – Will try again 43
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  45. 45.  Pay for Starbucks coffee with your Blackberry Check-in for your next American Airlines flight with your Blackberry Gap asks Facebook fans for alternative designs for new logo 45
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  54. 54. 94,937 Comments About Vodka Last Week Mostly About Smirnoff & Grey Goose#1 Topic: Flavors of VodkaMost Talked About Flavors: Lemon and Vanilla 7 Million Comments About Musical Acts Last Week 443,763: Lady Gaga 52,000: Meat Dress 5,704: Negative Comments Smartphones22.9 Million Comments in the Past 90 Days 25%: Apple iPhone 4G 54
  55. 55.  Anyone & everyone can do this: – People in our industry – People who want to get into our industry – Everyone is/can do scraping – Cost of entry is small • Lots of new players It’s not about the data – It’s ALL about: • What does it mean? • What do I do about it? • How do I implement it? • And by the way….. Fast….. Very fast! 55
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  63. 63. Ok, Now I Am Absolutely Understanding Implementation Really Pissed Off Curious Mode Convincing Mode Embracing ModeNo Way Mode Mode Mode Mode 63
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  65. 65.  Everything you do! Everything you say! Everywhere you go! Everything you buy! Will be monitored! This is happening and growing up really fast! 65
  66. 66.  Current – Coupons – Email Merrill Dubrow has a – Banner ads really nice tie on! – Boarding pass Future – Digital billboards • That talk? – Radio • Medieval Times – Sporting events The clutter will be MORE relevant! 66
  67. 67.  Current – Coupons – Email Raise your hand if you – Banner ads want a prize! – Boarding pass Future – Digital billboards • That talk? – Radio • Medieval Times – Sporting events The clutter will be MORE relevant! 67
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  70. 70.  Easy to pinpoint location of targeted audiences – Leads to: • Knowing what people are doing • Location relevant message/offer from marketers • Can change on the fly – Proximity does not equal receptivity • Need a balance • This will be a BIG challenge 70
  71. 71.  Information for discounts Get a star/points Credit recognition Palm Hotel in Vegas – More Klout • More important • More attention • More perks Klout.com Peerindex.net Mixtent.com 71
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  74. 74. Good marketing is successful at reaching people when they aremost interested in talking with you! 74
  75. 75. Good RESEARCH is successful at reaching people when they aremost interested in talking with you! 75
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  78. 78. Past Current Future 78
  79. 79.  Departments are getting smaller Less primary research team members Less partners I don’t even know why – More revenue per partner we have jobs in some ways… we are slow and – We have some extra space get it wrong too • Increase of onsite partners often…… expensive weatherman get it right Database analytics are more than us! growing – Really “looking hard” for key insights • Clients are doing this in house!!! – More offshore for this – Less off shore for traditional data collection 79
  80. 80.  Less ”big” projects – Brand identity – Segmentation Lots of pricing research Speed is the biggest factor for awarding projects Smaller, faster – What is the answer to this I no longer have time to teach partners about my one question business. They need to • Doing their own research! know what we do and – Building their own internal have ideas to help us from day 1. panels – Fan pages 80
  81. 81. Stan Sthanunathan VP Strategy ofGlobal Insights, Coca-Cola Michele Adams VP, Shopper & Customer Insights PepsiCo 81
  82. 82.  Are trying to keep up with all the technology and struggling Knowledge base has to be at a high level right away – No more ramp up time I have always said that the biggest threat to the – But this costs money market research industry was non-researchers doing • Lower margins? research and NOW more More competition than ever there are plenty of them – Less traditional places 82
  83. 83.  Add value everyday Invitations to much more strategic meetings Partner summits Interaction with many different departments – Researches are getting more exposure to: • Marketing teams • Brand groups – Need to understand their marketing strategy • What have they done in the past • Current goals • Future opportunities 83
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  85. 85. MarketingMarketing Research 85
  86. 86.  Research NEEDS to be more important Need to make sure research is integrated into marketing Need our research presentations to have a marketing aspect to them With decline in primary research staff – Because we are interacting with more marketers • Will go to different conferences • Desire to promote research thru PR with success stories 86
  87. 87.  Most successful researchers – Are GREAT marketers – Make recommendations that really matter – Turn the insights into next steps – How about sugging RUGGING! Hopefully all of this leads to NO more great research reports collecting dust on shelves Because of all this – Hiring needs have changed 87
  88. 88. In my opinion the research industryneeds to hire smart, inquisitive, math-oriented, socially networked, database proficient staff who have a solid understanding of marketing! 88
  89. 89.  Insight Implementation Officer Chief Innovation Officer Director of Text Analytics Chief Creatologist (HP) I’ve already seen much less value put Social Media Director on MBAs these days. People want “real world”, creativity and Scraping Guru problem solving skills. Social Networking Maven King of Data Mining Future Facing Team Social Media Specialist 89
  90. 90.  Is REALLY pay attention to the small technology companies – Why • Most innovation comes from them • Maritz Research Acquires Business Analytics and Social Media Research Firm evolve24 – Need to do a better job integrating them into our companies The industry can’t be like the Titanic anymore! 90
  91. 91.  Be aware • Crowdsortium - new association (33 comp.) started in October • NewMR Virtual Festival 2010 Be leaders Be creative! Collaborate – With each other – Clients Promote the industry! Secure a “reverse” mentor 91
  92. 92. Eric SwayneBen Smithee Senior Social / Digital Strategist at Rockfish InteractiveThe University of Texas at Arlington2007 92
  93. 93. New IBM ad states that66% of all new products have some type of computer intelligence built in 93
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  95. 95.  WOMMA Word MASHABLES AdAge Daily eMarketer MRWeb Trendwatching – 11 crucial consumer trends for 2011 Tom H.C. Anderson – Next Gen Market Research Forrester Blog 95
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  98. 98. To keep the discussion going: Merrill Dubrow 972-983-0416merrill.dubrow@marcresearch.comwww.marcresearch.com/blogs/merrill 98
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