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July 30, 2010
The last week has seen some really interesting developments on multiple fronts that could have long term impact on the direction of MR. The pace of technological innovation occurring from…
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The last week has seen some really interesting developments on multiple fronts that could have long term impact on the direction of MR. The pace of technological innovation occurring from outside of the industry continues unabated, offering glimpses of a very different approach to data collection and respondent engagement than our current models. Those changes also have tremendous impact on brands, especially in how they must realign their strategic marketing initiatives in accordance with the new level of empowerment that technology has given consumers.
Let’s dive in and look at some of the news I am talking about.
First, we have two stories about Google and their recent movement around social gaming and social media monitoring. Of course, in usual Google fashion, the implications are much more far reaching than simple acquisitions.
The Wall Street Journal reports on Google’s continued movement into the social media space, this time based upon some recent social gaming acquisitions. The article makes a few interesting points that we should be paying attention to:
Social gaming is a HUGE untapped opportunity for insight collection and respondent engagement folks, and when you combine that with the massive global reach of a Google, you have the seeds to revolutionize the reach and observational power of MR.
Next, Wired tells us about another interesting development from Google, this time on combining social media monitoring with predictive analytics:
They ain’t lying folks; I know for a fact that they collect hundreds of thousands of completes a day from just one web property they are engaged with and use that to help fuel their Millennial Index. I predict that these guys are going to make huge waves in the MR industry in the coming months. And again, not a single person on their team has a MR background.
In order to get a sense of where the industry is headed, it’s always a good idea to look at where VC investments are occurring. It should be no surprise that the bulk of investments in the MR space are focused on new technologies, especially around social media and analytics. Daily Research News Online reported on this earlier this week with a summary of recent funding activity for BuzzLogic, Photizo and Workstreamer. Again, you’ll notice that these new players do not necessarily come from the traditional MR space.
As we head into the home stretch for this post we’ll shift focus a bit and look at news related to the client side of the table. SocialMediaToday has an interesting blog on Brand Transparency in a Social Media Age. It’s an interesting take on the expectations consumers have in this age of empowerment.
Brands are struggling to get a handle on this new paradigm of instant mass word-of-mouth and consumer scrutiny. In order for MR to flourish, we need to be focusing on ways to not just listen to what consumers are saying, but to arm our clients with the strategic implications of their activities so that they can direct the conversation proactively.
Next, Daily Research News Online has a summary of a recent study on the quest for the holy grail of marketing ROI metrics. There is a compelling quote here from the CBO of Forbes Media that is worth repeating:
MR should be positioned well to help marketers develop the needed tools and metrics to deliver on the need for ROI measurement, but are we prepared to lead on this front as an industry? I know there are many individual players out there grappling with this concept, but how close are we to re-positioning the entire industry to take advantage of this need? I think we have some work to do to get there, and we better do it soon, or as the previous examples I’ve shared here have shown someone else is going to very quickly.
We’ll close out with an update on ISO 20252. Apparently a revision to the standards is occurring now driven by the need to incorporate new methods and technologies into the process documentation. Research-live.com has the details:
I guess that makes it official; if ISO is incorporating standards for new methodologies, they must be here to stay!
That’s it for now. We’ll be back soon with the latest information on the trends impacting the global MR industry.
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The views, opinions, data, and methodologies expressed above are those of the contributor(s) and do not necessarily reflect or represent the official policies, positions, or beliefs of Greenbook.
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