Why brands laugh at Market Research

By 24 October, 2016Blog
Why brands laugh at Market Research | Blog by Cint

The speed at which brands have to react to consumer opinions is faster than ever! Today is about real-time INSIGHT Tomorrow is about real time FORESIGHT

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Something I often hear when I speak directly to end clients and brands is how cumbersome it is to involve the research department. When they finally receive a report they throw it directly in the bin.

How can we then make research relevant for more people within brands?

A popular anecdote I’ve heard over the years is that Oracle realized they spent more on Survey Monkey licenses throughout the organization than directly with ConfirmIT. A ConfirmIT license is not free and Survey Monkey is not as advanced as ConfirmIT. Why is this happening?

What Survey Monkey has succeeded with is to give research tools to the hands of product owners, marketing managers and entrepreneurs who can’t afford research departments, don’t have time to wait or want to go through the hassle of assuring budget, internal communication and priorities etc.  And they are far from alone in their pursuit of reshaping how companies and brands get access to, and engage with, consumers for insights.

What we are seeing currently is more young companies disrupting the research industry by offering fully automated tools directly to the end client, whether it is Zappi Store facing clients or internal R&D delivering data to Amazons internal recommendation engine with 3rd party data sources.

 

Research companies are not technology companies

Research companies are not technology companies and perhaps should not be technology companies. Although what Cint has realized is that there is still a big need for market research know-how to assist end users to field even simpler market research studies, and definitely more complex research projects. So research companies play an important part here and will continue to do so, assuming they can stay relevant and demonstrate tangible value-add.

When brands want to give insights easier and quicker to the right people in the organization, and when it comes to more complex continuous data collection to enhance recommendation engines or connect CRM and transactional data with demographics and research, an insights technology company like Cint plays a central role, but research companies will continue to play their own critical role to understand client’s needs of insights and use new technology platforms to be able to provide the full value to the end user of the research.

Cint will be presenting more in this area on how we are collaborating with our core research partner channel and in cooperation, delivering both technology and research solutions to end clients to still stay competitive in how insights are collected and acted upon in the future. Listen to us at Research & Results in Munich what we do to help out research partners and what trends we see in the research industry.

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