2009 Market Research Dynamics


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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

    1. 1. 2009 Market Research Dynamics<br />Lessons from Across the Industry<br />December 3, 2009<br />
    2. 2. About Our Speakers<br />Jeffrey Henning Founder & VP Strategy<br />Co-founder of Perseus, which was combined with WebSurveyorto form Vovici in 2006. Earlier roles as a market researcher at BIS.<br />Brian KomaVP Research<br />Founder of Stratagem Marketing, acquired in 2004. Earlier, in charge of global enterprise-systems marketing at Legent Corporation.<br />
    3. 3. About Vovici<br />SELECTED CUSTOMERS<br />60%<br />Of the Fortune 500<br />2,000<br />Customers in over 47 countries<br />150 <br />Million completed surveys in more than 115 different languages.<br />16 <br />Years of industry experience, leadership and innovation<br />KEY PARTNERS<br />
    4. 4. Conferences<br />Gartner CRM, AMA MRC, ESOMAR ORC, MRA FOC, CASRO DC<br />
    5. 5. Your Webinar Requirements<br />
    6. 6. Topics You Want Covered<br />Affordable/DIY<br />B2B<br />Qual/Quant<br />Quality<br />Survey<br />
    7. 7. Agenda<br />Trends<br />
    8. 8. Three Categories of Insights to Research<br />Human Insights<br />Universal<br />“Unchanging”<br />Lifestages<br />Psychology<br />Ergonomics<br />Cultural Insights<br />Vary by culture<br />Change slowly<br />Lifestyles<br />Values<br />Macro trends<br />Marketing Insights<br />Vary by market<br />Change rapidly<br />Product category<br />Consumer<br />Channel<br />Source: Coca-Cola<br />
    9. 9. Aging Population<br />Changing Physiology<br />Consumer Is King<br />Rising Power of Women<br />Ethical Consumption<br />Top 10 Macro Trends<br />Crisis of Confidence<br />Careful Consumption<br />Safety & Security<br />Information Addiction<br />Information Overload<br />Source: Ford<br />
    10. 10. Trends in Quantitative Research<br />Source: Transition Strategic Corp.<br />
    11. 11. Net Organizations Increasing Use of Mode in 2010<br />Please indicate the usage you anticipate for your business in 2010 compared to 2009: Increase, No Change, Decrease<br />n=512<br />Source: Rockhopper Research<br />
    12. 12. Customer Relationship Management<br />“CRM is the most fruitful innovation opportunity for your company and your customers.” – Kathy Harris, Gartner VP<br />Source: Gartner<br />
    13. 13. Customer Experience Initiatives Beyond the Survey<br />Source: Gartner<br />
    14. 14. State of EFM - 2009<br />What? Feedback hubs, central survey repositories<br />Why? Oversurveying & mis-surveying<br />Who? Vovici & ConfirmIt then 60-70 other vendors<br />When? Now! “Your competitors are getting better at this!”<br />Where? By department and across the organization. In online communities.<br />Source: Gartner<br />
    15. 15. Agenda<br />Online Communities<br />
    16. 16. Engage Partners in Innovation<br />Source: Gartner<br />
    17. 17. Crowdsourcing<br />Innovation Jams<br />Idea Marketplaces<br />“If you don&apos;t engage your customers in innovation, someone else will.”– Kathy Harris, Gartner VP<br />Source: Gartner<br />
    18. 18. Communities: Open vs. Closed, 1 Client vs. Many<br />Source: BrainJuicer<br />
    19. 19. From Standing Community to Project Communities<br />“We have a mandate at General Mills to move as much of our qualitative research online as possible.”<br />As a result of 22 community projects:<br />Focus on Discovery<br />Smaller communities<br />Shorter duration communities<br />Larger incentives<br />Geographically centered<br />
    20. 20. <ul><li>Provides easy access to consumers
    21. 21. Yields quick feedback on insights and attitudes
    22. 22. “Spontaneity allows for flexibility”
    23. 23. Targeted research
    24. 24. Viral marketing
    25. 25. Many research projects are quite small and targeted, leading to shorter, more focused questionnaires</li></ul>ABC Studios Advisory Panel: Pros & Cons<br /><ul><li>Unable to verify that members aren't reporters or competitors
    26. 26. Leaks of sensitive material to the entertainment blogs and press
    27. 27. Piracy of episodes posted
    28. 28. Requires ongoing investment of time and money to recruit new members
    29. 29. Qualitative data is voluminous and time consuming to analyze
    30. 30. During off-production times need to keep members engaged
    31. 31. Victim of success - get pushed for rapid turnaround</li></li></ul><li>Kitchen 2020 Co-Creation<br />Five week-long phases<br />Problem analysis and individual idea generation<br />Idea sharing and enrichment<br />Evaluation by customer<br />Evaluation by professional<br />Selection<br />150 participants with unusual activities<br />Create moodboard (collage)<br />Picture associations<br />Document current frustrations<br />Explore scenarios<br />Unlike MROCs, members could see each other’s ideas but not discuss<br />Source: MetrixLab<br />
    32. 32. MROC Suppliers Range from Full Service to Technology Only<br />Internal Bandwidth<br />Out of Pocket Cost<br />Source: DRI<br />
    33. 33. MROC Member Activities beyond Discussions<br />Static ethnography<br />Representational images<br />Idea banks<br />Insight games<br />Cartoon captions<br />Personal diaries<br />Collages<br />Fun polls and quizzes<br />Team activities<br />Source: DRI<br />
    34. 34. Watch Configuration Tool<br />Enables average user to playfully create<br /><ul><li>24 components
    35. 35. 108 gems</li></ul>Vote and comment on one another’s designs<br />Over 1300 configurations submitted<br />Extensive quantitative analysis of gems and components used<br />Source: HYVE AG<br />
    36. 36. Australian Consumers’ Perspective on Research Methods<br />n=1,082<br />Source: Colmar Brunton<br />
    37. 37. Web 1.0 Surveys vs. Web 2.0 Surveys<br />Rich media buttons vs. radio buttons took 20% longer to complete<br />Questions in 2.0 survey were 2x times more likely not to be read<br />36% variance between results from slide vs. from radio buttons<br />Source: element54<br />
    38. 38. Agenda<br />Social Media<br />
    39. 39. The Screen Age<br />
    40. 40. Social Media is a Rich Source of Qualitative Insights<br />Random-Sample Surveys<br /><ul><li>Closed questions
    41. 41. Limited response options
    42. 42. Can’t get the story behind the story
    43. 43. Provides hard data that can be extrapolated to a larger audience</li></ul>Qualitative Research<br />Social Media<br /><ul><li>Open-ended comments
    44. 44. Provide the Story behind the story
    45. 45. Can’t extrapolate to a larger audience</li></ul>Quantitative Research<br />
    46. 46. Blog Content Analysis<br />Gartner sees marginal to no ROI from its clients’ investments in blog content analysis<br />“It’s eye candy: management likes to see it.”<br />Gartner sees no strategic value in connecting customers to their social networks<br />In terms of concrete ROI, instead learn the language of the Voice of the Customer:<br />Ask more open-ended questions in surveys and use text mining on them<br />Use text mining on the keywords customers use in your web site’s search box<br />Source: Gartner<br />
    47. 47. Guidelines to Using Blogs in Market Research<br />Caveat: Online persona does not always reflect offline persona<br />Remember bloggers’ motivations and concerns about privacy and security<br />Recognize impact of the audience and interaction on what the blogger shares<br />Process<br />Engage by acquiring bloggers as sample<br />Eavesdrop to analyze online statements<br />Connect in order to understand context of what is being shared and to authenticate identity<br />Source: Gfk NOP<br />
    48. 48. Surveys to Social Media: Apples to Orange Juice<br />Social media&apos;s impact is disproportionate to the level of activity<br />The data is dirty<br />Brands with unique names are easier to research<br />Topics are not always organized to answer our questions<br />Social media is not representative, only directional<br />Price<br />Premium OJ<br />Ingredients<br />Confusion<br />New Design<br />Reversion<br />
    49. 49. Survey Research Steps, with Social Media<br />Study Design: Use social media to frame hypothesis<br />Sample Selection: Identify potential respondents<br />Questionnaire Design: Learn language of respondents; develop choice lists<br />Fielding the Survey: Invite respondents by Twitter<br />Analysis: Add tweets for color commentary<br />Source: Vovici<br />
    50. 50. Surveys and Biometrics<br />MTV Networks researched ad awareness<br />Used biometric vests and eye tracking<br />Follow-up survey for brand recall<br />Focused attention: 30% for TV commercials, 80% for TV programming, &gt;95% for videogames<br />15-second preroll commercials had double the recall of 30-second commercials<br />Prerolls more effective before action games rather than cognitive games<br />Strategically integrating branding into the game resulted in 80% recall<br />Source: Innerscope Research<br />
    51. 51. Agenda<br />Analysis & Communications<br />
    52. 52. 7 Principles for Researchers to Collaborate with Executives<br />Be clear on the Essential Question<br />Lead a hypothesis flip-chart session<br />Practice smoke-jumping<br />Reveal the surprises<br />Steer clear of the squiggly-line syndrome<br />Avoid the “Alice in Wonderland” meeting<br />Make your bottom-line your top line<br />Source: Chris Frank<br />
    53. 53. 8 Principles for Researchers to Become “Deviant” Leaders<br />Plan: Know the company’s strategy<br />Position doesn’t matter<br />Eliminate Project mentality<br />Profit: seek ways to improve the bottom line<br />Accelerate the Pace of change<br />Don’t succumb to the Pressure<br />Develop Partnerships<br />Perfection: Forget it<br />Source: YRC Worldwide<br />
    54. 54. Overcoming Objections to B2B Research<br />“We already know that.”<br />“They just won’t get it.”<br />“It’s too complex.”<br />“It’s too small.”<br />“You’ll never find them.” <br />“They’ll never tell us that!”<br />“It’s way too expensive.”<br />Source: Strategic Spark<br />
    55. 55. Juggling Key Performance Indicators<br />Gartner client had 137 “key” indicators<br />As practical matter, she concentrated on 7<br />Unfortunately her manager cared about a different 7<br />No manager should have more 5-9 KPIs<br />Can’t keep too many “balls in the air”<br />World record for juggling measured in hours for a few items, in catches for many items<br />Select KPIs with care<br />Performance indicators are often tracked because they can be, not because they should be<br />Focus on metrics that drive Life-Time Value<br />Source: Gartner<br />
    56. 56. Agenda<br />Quality<br />
    57. 57. Survey Research: Internet v. Telephone<br />Probability-sample Internet surveys more accurate than RDD<br />Probability-sample Internet surveys contain less random error<br />Internet-survey respondents are less susceptible to social desirability bias than telephone respondents<br />Internet-survey respondents are less susceptible to satisficing<br />Response rates are essentially uncorrelated with the accuracy of probability-sampled surveys<br />Opt-in Internet surveys are consistently less accurate than probability-sampled surveys<br />Accuracy of results of opt-in Internet surveys vary considerably across surveys and within surveys<br />Accuracy of results of opt-in Internet surveys vary considerably across panels<br />Source: Jon Krosnick<br />
    58. 58. Microsoft CMRI Embracing Six Sigma<br />For its research on research, the Microsoft Central Market Research Insights team has adopted Six Sigma<br />“We are reducing the number of defects study by study by study.”<br />“We averaged 12 defects per final report in a six-month period to 3 the next period down to 2 most recently.&quot;<br />“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.”<br />Source: Microsoft<br />
    59. 59. Meta-Analysis<br /><ul><li>Most organizations fail to study and improve their decision-making process
    60. 60. “We have to create a culture of auditing the decisions.”
    61. 61. Identify ways to make better decisions in the future</li></ul>Δ Presence in Success – Presence in Failure<br />% Satisfactory Projects With Best Practice<br />Source: McKinsey<br />Source: Gartner<br />
    62. 62. Quality Initiatives<br />ISO 20252 Standard<br />Survey research quality<br />All stages<br />All mode<br />ISO 26362 Standard<br />Access panel<br />Quality Enhancement Process<br />Panel level<br />Sample level<br />Survey level<br />ESOMAR Code<br />8 key principles<br />1948<br />E26<br />Panel purchase FAQ<br />
    63. 63. Why Your Management Doesn’t Listen to You<br />With careful planning and research, challenge executives’ sacred cows<br />“Appointment viewing” believed by TV execs but even Sopranos viewers only watched 3.7 of 10 episodes (the high)<br />Elephant in the room: Consumers often lack true awareness of their actions<br />Bad research perpetuates myth of consumer self-awareness<br />Integrate behavioral metrics into your research<br />Source: Jack Wakshlag, Time/Warner<br />
    64. 64. Agenda<br />Q&A<br />
    65. 65. Our Presenters Welcome Your Questions<br />Jeffrey Henning Founder & VP Strategy<br />@jhenning<br />jhenning@vovici.com<br />1-800-787-8755 x 550<br />To request a demo or to talk with a sales advisor:<br />sales@vovici.com<br />1-800-787-8755<br />Brian KomaVP Research<br />@bkoma<br />1-800-787-8755 x 551<br />
    66. 66. Check Out Our Blog<br />http://blog.vovici.com <br />
    67. 67. About Vovici<br />Customer Momentum<br />Value Proposition<br />Software 500 Top 10 in 2009 for growth<br />Existing customers drive half our growth<br />Over 2,000 customers, and 60% of the Fortune 500<br />Responses have increased 500% in the past 18 months<br />Consistent Double-Digit Growth<br />SaaS revenue growth<br />
    68. 68. Vovici Offers a Complete Feedback Application<br />