Archive for the ‘Greenbook Research Industry Trends Report Highlights’ Category

Highlights from the Greenbook (GB) Research Industry Trends Report

Thursday, December 29th, 2011

The Greenbook [GB] Research Industry Trends Report indicates our beloved industry is not only alive and well, but also evolving to best serve the needs of our clients!

In my humble opinion, traditional qualitative methods have been a marketing doormat of late, used to elevate more novel tools. “Tech qual” is valuable when relevant, but never at the expense of what is most effective for the study. GB survey findings indicate an industry in agreement.

Herein we highlight some of GB’s most relevant findings bringing optimistic news!

  • Future research spending is favorable.
  • Nearly 60% (in the overall sample) indicate that they are either now seeing stronger growth, or expect stronger growth to occur – especially for suppliers, where 65% are either now seeing stronger growth, or expect experiencing or expecting increases.
  • The emergence of newer data collection modalities is evident in both [supplier and buyer] spheres, but perhaps not surprisingly, the spheres of research most likely to be used are relatively “traditional…” Notably, online survey research and CATI on the quant side, and face-to-face focus groups or IDIs on the qual side.
  • In terms of research mix… over ¼ claim that spending will increase… more for qualitative than quantitative in 2011. About ½ believe that the spending relationship between them will remain unchanged.
  • Positive news is that any change being reported is being fueled by greater volume, not higher prices. And a shift in the mix towards qualitative is not especially uncommon, as the US economy slowly emerges from its recessionary mindset, and focuses on new business development and topline growth.
  • [Technology] on the qualitative side, bulletin board (28%) or chat-based focus groups (25%), online communities (22%), and blogs (19%) are data collection methods mentioned most.
  • Regardless of the technological fallout, significant change is anticipated in the marketing research industry in the next five years (two-thirds say “quite a bit”, “a lot” or “tremendous”), and younger/less experience researchers anticipate the change to be even more significant.
  • But the news here is positive: among those who anticipate change, over 60% see more promise than threat and, again, this is more in evidence among younger/less experienced researchers.
  • Online communities and social media analytics are the two most widely adopted research techniques and approaches across the board (34% and 28% respectively).
  • While 50% of researchers in South Asia/India have used mobile surveys for a client or commissioned them from a supplier, only 22% of researchers in the U.S. have dealt with this approach.
  • Mobile surveys and social media analytics remain among the top approaches researchers predict they will use often (18% and 15% respectively), while online communities pulled ahead, with just over one in five (22%) planning to use this approach often.

As we embrace our new tools, let’s not lose sight that a research tool box will have more value long term and typically trumps one new tool that can only work well for some projects!

If you have any questions, contact the market research specialists at Observation Baltimore by calling 410-332-0400 or click here today!

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