and Aligning the participant experience with the brand experience needs to be a priority because in order to move fast, companies need to be able to engage real people for insights. AI/MI technologies have become increasingly essential for ecommerce, virtual events and to keep up with customer channel preferences and other personalization efforts, according to The Martech Report 2021/22 (registration required for report) from The Martech Alliance and Moore Kingston Smith. Since the pandemic has limited the amount of ethnographic and in-person consumer work, I can see techniques that still get us close to the consumer being very big in 2022, shares Brett Townsend, Director of Consumer Insights at Lowe's and former Head of North America Insights at Electrolux. Remote first practices ensure youre not only hiring the best talent but also the most diversewhich has been shown time and time again to drive innovation and increased profitability. But if that is to be the case, MR, insights, and analytics functions will be busy covering a plethora of possibilities. Employee experience will also become more important to brand planning, according to Forrester, which predicts that employee experience budgets will grow this year, in large part due to a push from CMOs, half of whom plan to make EX essential to brand planning. Quantitative methods produce raw data which can be analyzed systematically and usually take the form of surveys. Few executives have the timeor the inclinationto read lengthy reports, and for your research to have an impact on your organization, you have to master the ability to succinctly convey your key insights. Well cover each briefly here, but for a much more in-depth look, we recommend you download our Ultimate Guide to Market Research. More than a market research trend, theres a palpable sense of optimism in the industry and a renewed focus to deliver impact. Secondary market research (also called desk research) is an importantbut often discountedaspect of the wider market research process. The pandemic has altered how humans engage with one another and the wider world.

Data analysis will become more automated as advances in technology continue. Digital is now the preferred channel for social and business interactions. Privacy Policy. In the context of the ever more widespread use, application (and criticism!) Weve increasingly been told by companies that they want to connect with their customers emotionally and to create a strong bond that will lead to greater loyalty and purchasing. While this is a preliminary stage, its an important one that will guide the remainder of the research process. 2022 Consensus Point Inc. All rights reserved.

and It is an exciting time for the growth of innovative technology in the martech sector, Hayden said. Marketers can support customer self-service purchases by designing smooth digital experiences. Successful B2B organizations will balance digital customer engagement with human-led interactions at key moments to steer buyer decisions. The tricky part about making predictions during a year like 2022 is that theres still a lot of uncertainty. Forrester recommended that CMOs partner with human resources in determining EX strategies. Watch now: Build the Best Business Case for B2B Digital Commerce. Predicts 2022: Marketing Builds New Connections, Redefining Marketings Role in Digital Experience Innovation, How B2B and B2C Customers Engage With New Digital Experiences Across the Customer Journey. The Knowledge360 and HUUNU word marks are registered trademarks owned by Consensus Point, Inc. Types of market research (examples + tips), Market and Competitive Intelligence Consulting, Step 5: Synthesizing and presenting findings, Related: Primary Market Research vs. The most optimal approach to secondary market research is to conduct it on an ongoing basis from as many sources as possible, actively tracking all of the latest developments amongst your customers, competitors, and wider market. As we emerge from the pandemic, labor shortages and increased competition have spurred a technological space race within martech for further automation, better customer insight and predictability.. The mid-pandemic world of today continues to evolve quickly on its path to an eventual post-pandemic erathat era may look surprisingly different in some respects, while returning to traditional patterns in other ways. Companies store fields of data within their siloslarge retailers like Krogers and Walmart are already selling access to their data. Insights pros need to think like big consulting, if thats who we intend on unseating, and adopt more holistic strategies that drive business performance rather than focusing on project-by-project issues. The apps and websites that give customers a reason to opt in will gain a significant revenue advantage. This site uses Akismet to reduce spam. Anne E. Beall, CEO, Beall Research, Inc.Were seeing an increased interest in the role that emotions play in purchasing. If youre only just starting to dip your toe into the world of market research, it can be easy to feel intimidated. Reflecting on his own teams accomplishments, Townsend shares, Each year we seem to do something new and better that deepens the impact of the insights we gather. MarketResearch.com6116 Executive BlvdSuite 550Rockville, MD 20852800.298.5699 (U.S.)+1.240.747.3093 (International)customerservice@marketresearch.com, Predicted Market Research Trends for 2022.

Meeting consumer needs during the pandemic requires understanding the underlying motivations driving changes in habits and routines. CMOs face a perfect storm of budget cuts, operational disruption and social unrest. Its characterized by the use of techniques like focus groups and individual interviews and enables free-flowing conversations that encourage participants to reveal the reasons and logic behind the opinions they hold. There will be a pressing need for laws and regulations to keep up with new forms of market research. Your email address will not be published. Sixty percent of marketers surveyed said their companies or clients (for those working as consultants) are using these technologies to drive their marketing strategy, and nearly 40% said they expect their organizations to start using the technologies in the next year. Companies are now dedicating more time to qualitative research. Im seeing a growing trend toward treating insight gathering like any other brand touchpointsomething that you can be proud of, that is on brand and that serves as both a customer insight and a customer engagement tool., Any CMO worth their salt would rather have a conversation with their customer than test them.. Hybrid research (the use of both quantitative and qualitative research methods) will become more popular. 2022Gartner, Inc. and/or its affiliates. Customer data platforms were also cited by 69% of those surveyed in a separate Martech Alliance 2021 CX Trends report (registration required for report) as the lynchpin to delivering improved CX. Big data can provide the basicswho the customer is, what and how they are buyingbut youre still left inferring the whys behind consumers purchases. Any CMO worth their salt would rather have a conversation with their customer than test them," Eileen explains. Learn how your comment data is processed. All rights reserved. The opaque nature of some popular AI techniques can occlude how an algorithm surfaces recommendations, Forresters Purcell explains. Gartner Terms of Use The value of secondary market research is often the context desk research adds to the findings gained from primary market research. Marketers need to be on the mark for the almost- or fully post-COVID environment. Contributor: Jordan Turner. A prolonged pandemic, supply chain issues, record-breaking inflation, and volatility in the stock market are making this year already more challenging than most. By the conclusion of the exploratory research phase, you will have uncovered some new ideas, and validated some existing ones. Qualitative research bridges the gap. Learn how some of the world's most beloved brands are setting the bar for employee engagement. Marketing leaders would do well to scale employee participation with easy-to-use platforms that equip their colleagues with a steady stream of content to share on their personal social accounts. I might be a bit biased here, but Id be remiss talking about 2022 market research industry trends without mentioning mobile tech. facial coding). Secondly, Im hopeful that more firms will move from an office first to a remote first mentality. But there are ways we can leverage technology like this to make a researcher or strategists job easier. Create a loose agenda, but give your researchers the freedom to encourage participants to share their views on a variety of topics relevant to the research. hbspt.cta._relativeUrls=true;hbspt.cta.load(209482, '4c683341-7d6e-4294-a53d-e96ebbe5a5f4', {"useNewLoader":"true","region":"na1"}); Our goal is to help you better understand your customer, market, and competition in order to help drive your business growth. Extended pandemic-related quarantine and isolation have permanently altered customer behaviors and expectations of companies and brands. Lisa W. Miller, President, Lisa W. Miller & Associates, LLCDemand for marketing research is at an all-time high as companies seek to drive growth on the otherside of the pandemic. There is also a need for continued refining of client datasets and testing assumptions that may have changed over the last 18-24 months that were fairly consistent in the past. According to Brandon Purcell, VP and Principal Analyst at Forrester, the bigger issue is around trust and value, explaining, Customers wont readily volunteer personal information unless the answer to one simple question is staring them in the face: Whats in it for me?. A lot of the out-of-the-box solutions are more intuitive and user-friendly, but can be too rigid in their design, making it harder to generate actionable insights, Trimboli shares. Some of this technology will help marketers better measure the return on their technology investments, which has historically been a common problem for organizations. By clicking the "Continue" button, you are agreeing to the Consumer behavior can and does change on a dime, but the motivations that underlie consumer behavior are stable over time. Kathryn Korostoff, President, Research Rockstar Training & StaffingI see several themes, but the big four for me are as follows: Joe Newsum, Founder, Kentley InsightsThe pandemichas massively disrupted supply chains, fueled inflation, changed our workforce, and transformed the foundations of many industries.

Brian Clayson, Director of Custom Research, 7 Ways to Identify New Market Opportunities in a Changing World, The Effect of Inflation on Consumers and What It Means for Brands, How Custom Market Research Can Help You Make Strategic Decisions. Marketers and their corporate bosses need to cover a lot of possibilities. According to ESOMAR, the insights industry is now valued at $89.75 billiona number that will continue to grow given the need for ongoing insights in todays changing consumer landscape. During uncertain times, customer insights can play a bigger role in helping companies navigate whats ahead.

Finding qualified panelistsis a challenge and will remain a challenge in 2022. Capitalize on this trend by boosting the quality of content on social media product pages with information that addresses customer needs. Consider exploring how virtual influencers might represent your organization, industry and region. Theres potential for a full reversal to accept all tracking from trusted brands or well-established publishers. Unlocking the Power of AI in the Contact Center. Its why security and compliance are a priority for us and baked into how we develop our mobile market research platform. However, a completely sales-rep free experience isnt totally in the cards. I predict that 2022 is the year many companies will realize that mobile research is not niche. Market research plays a crucial role in defining high-level strategy at all of the worlds top organizations. Forrester predicts huge investments in data collection in 2022 to prepare for the impending cookiepocalypse. The advisory firm says the number of brands collecting zero-party data will double in light of data deprecation. (Not to be confused with first-party data, zero-party data is information consumers readily volunteer about their preferences and interests, according to Forrester.). Nearly one-third of B2B and B2C organizations have included selling on social platforms as part of their digital commerce strategy motivated by growing customer purchase activity on social channels. Its important you have a clear definition of what success looks like for any given market research project. While your work might amount to dozens of pages of insight, its critical to distill this into a few high-level insights you can easily share with key stakeholders across your organization. Its no surprise that AI and ML are key technologies driving marketing strategy, with their potential benefits being well understood, said Thomas Hayden, Moore Kingston Smith Research and Development Director. The vast majority of successful market research projects start with a phase of exploratory research. However, martech businesses may find that their strategies are held back until this talent has had the time to develop and come onto the market. But the pandemic is far from over, so going to peoples homes to observe what theyre doing is still out of the question. However, the way data is captured and recorded is rapidly changing. After all, there are so many moving parts in any given market research initiative, and without an experienced team to navigate the process, its all too easy to end up more confused than you were at the start of the process. With digital marketing at the forefront of most companies' goals, 2022 is sure to bring some exciting innovations. Marketing leaders have the opportunity to evaluate media plans and take advantage of the times of day their audience is most receptive. Gartner also sees employees playing a critical role in marketing success, particularly in the B2B market. Market research trends: Expert predictions on what's ahead for the insights industry. Our infographic below covers some of the emerging trends you should know about for 2022 and beyond. Third-party market reports from organizations like, Select a few key takeaways, and make sure your audience fully understand them, Incorporate visual elements like graphs and charts to enable your audience to grapes key figures and statistics more easily. What impact has the COVID-19 pandemic had on market research and how it is conducted? For many businesses and consumers, 2022 is off to a rocky start. This blog post shares different perspectives on these key issues from a wide variety of market research professionals in the field. Privacy Policy.

For the initiative to be successful, everyone has to be pulling in the same direction from the managers overseeing the research to the individual employees administering surveys and conducting interviews. But simply pulling out key insights from your data isnt enough rather, you need to create a compelling narrative around your research that will ensure your organization actively leverages your findings. I dont see an algorithm replacing the critical thinking skills and business knowledge that a human can bring to the table, until at least the 22nd century, Trimboli adds. a concept test), rather than a clever method (e.g. Download now: Gartner Marketing Predictions 2022: Forging New Connections. Companies like Tyson Foods are finding that these mobile-first approaches provide a way to get into peoples homes and find out how their behaviors and habits are changing. Most people trust the opinion of their social circle when making purchasing decisions. It predicts that by 2023, 90% of social media marketing strategies will include employee advocacy programs.

Were going to walk you through each of these stages, exploring the role they play in the overall market research process, and sharing the best practices you should keep in mind at each stage. Bob Lederer, Consultant, Producer & Editor, RFL Communications, Incorporated2022 will be one of the more complex that the market research, insights, and analytics industries will have ever faced. Perhaps it's more than a market research trend, but Eileen is predicting that a shift in mindset is imminent. The good news is that this is recognized at a policy level, with recent funding being made available by the government to train more AI experts through the creation of 2,000 AI scholarships.

There are a range of different survey designs you can use, including conjoint analysis, and TURF analysis, to name a few. Below are six of the most recent findings indicating the latest trends in CX and other marketing areas. 2020 Rival Technologies, Inc. All Rights Reserved. The country and world won't be anything like the giddy pre-COVID world of 2020. Insight leaders should be looking with optimism, though pragmatism, at the challenges 2022 holds and how they can influence their business leaders to make better choices, for their colleagues, for our consumers and for society.". First Define Innovation. 7 Key Shifts in Marketing Channel Spend in 2021. The insights industry is now valued at $89.75 billion. Note: A version of this article was first published in January 2021. They need to be acquired and retained. But its an approachable topic, and its relatively easy for you to pick up the core principlesand structureon your own. You should only have one objective, and it should be specific multiple objectives, or objectives that are too broad, can easily derail a project. Check out the quotes below to find out more about what the future may hold for market researchers and the industry overall. Use these to develop a series of hypotheses that you can test more rigorously through primary market research methods. Interpreting relevant data is key to unlocking the long-term success of your organization. CMOs have always known they NEED research, but generally hate it as a brand touchpoint, explains Eileen Campbell, Co-Founder and Chair at Rival Group, parent company of Rival Technologies and Reach3 Insights. ", Related Article:4 Ways AI Should Be Playing a Role in Your DX Strategy. Tools like Knowledge360 use sophisticated technology including AI algorithms and advanced Natural Language Processing (NLP) to automatically monitor a huge range of secondary market research sources, summarizing the most insightful pieces of information into easy-to-read dashboards and email summaries. Without a positive participant experience, response rates will continue to drop, which in turn will make it prohibitively expensive to get customer feedback at scale.

Are you a marketing exec looking to stay on top of trends? While no two market research projects are exactly the same, virtually every successful initiative will follow a similar structure. For AI to become a real market research trend, tech vendors need to be more transparent about how they turn data into insights. Gartner Keynote: Why Marketers Are Vital for Connected, Successful Organizations. Thus advertisementsplaced in former high-demand spots during morning and evening programs may no longer reach the volume, nor the type, of customers that brands want to engage. Marketing leaders must now take the reins to advocate and deliver on strategies that embrace digital as the foundation not just of existing relationships, but also of new connections with and between customers, employees, business partners and social influencers.

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