Thought Leadership

What is the future of the research industry?

There have been a number of articles in the press about the demise of the research industry. A recent lament by published in the FT by Luke Johnson, “Why focus groups tell you the obvious”, (March 23 2010), who complained of receiving poor value from research companies. He complains that there is a widespread sentiment amongst clients that the research outputs merely confirm their prejudices, confirms existing knowledge and is over-priced.

As an industry, we must take heed of these warnings. In the first instance, I might enquire whether a research brief was properly designed, enabling the researchers to reveal insights which would lead a change in operations? Did the researchers ask the client the right questions when assessing their business needs?

In my experience, clients often commission research work precisely because they want their assumptions and hypothesis confirmed as a second, professional opinion. I do not think that there is any shame associated with this. The fulfilment of this expectation is not limited to market research professionals. The same could be said about sociologists, pundits and even on occasion members of the medical profession, who are asked for a professional opinion, where clients often seek validation for their assumptions. How often have we asked a sommelier for a recommendation, when in effect we are usually asking for the confirmation of our good taste or hunch?

On collating research findings, a good researcher should ask, “So what?”. “What does this mean for my client’s business? What are the commercial implications? How can this information add value? What else is needed to further understanding?” Only the human mind can deliver intelligence and until the researcher has delivered the above answers you are only being delivered information not insight. The end goal of our work is to provide actionable answers, to help execs overcome the information flood and help them make faster and more timely decisions. Or at least, we are meant to…

The market research industry must take heed of client feedback and market forces. It must either evolve or die. Our challenge is to produce thought-provoking and original pieces of work which have a direct commercial application for the client’s business. Innovation cannot be outsourced in the longer term and internally is often a product of off-beat and mercurial personalities spinning off each-other.

Increasingly, market research is developing more interesting ways to reach the masses. The future of market research will not be long-winded studies which engender ‘analysis paralysis’, but rather ‘flash’ surveys delivered in different online media to take the ‘pulse’ of consumers and deliver almost instantaneous feedback from those who have a sense of ‘community buy-in’ for your business.

For the Millennial Generation, research will have to be delivered using their tools, such as Facebook type apps and SMS surveys. This generation in particular have reduced concentration spans due to constant browsing activity and the likelihood of them submitting to washing liquid focus groups on a rainy afternoon in Milton Keynes, seems, thankfully, unlikely…

So, I would forecast that how we will be asking the questions will be changing and therefore what will be asking will be radically different in the future as well.