The market research crystal ball
In this week’s Market Research Marketplace report we ask the experts to look into their crystal ball to give their views of what’s in store for 2010 for market research.
Co-creation appears to be a major trend picked out for next year both in business-to-business terms and when gathering research. Roger Donbavand, director at BDRC believes that there will be much more collaboration between agencies to work in “strategic partnerships.”
Alistair Leathwood managing director of Freshminds, predicts that co-creation will also be big news for 2010. But he sees co-creation becoming a big part of how brands gather research and create new products. Gleaning information and ideas from ‘research communities’ is already in being put into action by some forward-thinking companies, but Leathwood believes 2010 will be the year that this practice will become more mainstream as brands strive to provide what the customer really wants.
The recession is predicted to have lasting effects on the market research industry too. “Efficiency” is the buzzword for 2010 according to Rowland Lloyd, chairman of the Market Research Society. This inevitably means that market research agencies will have to fight their corner when it comes to convincing business that it’s worth allocating a decent budget for research.
Crispin Beale, chief executive of Facts International agrees that efficiency is the word of the year when it comes to justifying spend on market research. He believes that research is going to be used in a much more practical manner going forward. “Actionability of data will become more important than the method of collection,” he states.
Innovation is also a key phrase that the experts have been talking up for 2010. But Paul Edwards, chairman of TNS-Research International wonders if the industry is going to be too slow to take up new ideas. Let’s just hope that recessionary concerns don’t stifle implementation of innovation, but instead drives new ideas that can keep the industry fresh.
