Innovation remains high on the agenda in the market research arena

By 28 April, 2014Blog
Innovation remains high on the agenda in the market research arena

By Richard Thornton

 

Whilst changes in the market research landscape have created new challenges for various industry leaders, the technology-focused solutions having emerged as a result have unlocked new opportunities; those that have chosen to embrace these methods will be the survivors of this sea of change.

 

This emerging technology has arrived in many forms – from mobile applications and API integrations to emotion-tracking technologies such as facial expression monitoring and methodologies such as eye-tracking and neuroscience. And like other innovators in the MR industry, we are committed to staying ahead of the curve through technology and collaboration. By continuing to strive to build an open and transparent platform that welcomes anyone to connect and either build a business on top of our platform or to sell products and services into it, for us it is all about sealing partnerships with tech-focused organisations. One such successful collaboration is with eye-tracking specialist Sticky. To underline the capabilities of their service and how it can be used to help digital marketers achieve a more accurate measurement of success, Sticky worked with us on a study to highlight whether participants recalled what they actually saw when viewing an online ad, or whether their recall was even based at all on what they saw. This was to ascertain ‘seen’ versus ‘recall’.

 

The study was carried out on more than 1,200 consumers across the UK and US, incorporating four different target groups. Advertisements from a variety of brands such as Netflix, Levi’s (UK and US), Bank of America, Wuaki and ING Direct were presented to these participants, after which they were asked if they recalled seeing them. Sticky’s technology was then used to compare the gaze patterns with the participant feedback given, which revealed a ‘See-Say’ gap. This meant that in some cases, people did not recall what they saw, with some participants claiming to have seen things they hadn’t! This disparity in gap-size proved interesting, especially as like-for-like advertisements were shown to the same group.

 

We believe this kind of technology will become increasingly important and widely adopted by marketers who wish to gain a better understanding and a more accurate measurement of their ROI, particularly as online channels continue to grow. Digital marketing campaigns have become an excellent option for marketers, but verifying a measurement of the true reach and impact will always be a challenge, as impressions and click-through rates clearly aren’t the best indicator of whether the target audience has viewed an ad. To avoid over or underestimating the investment, methodologies and technology that help pin down awareness, responsiveness and an action, will undoubtedly become a more preferable option for marketers.

 

This technology, coupled with our extensive OpinionHUB marketplace, means it has never been easier for marketers to make use of the latest innovations to constantly assess and improve their return on investment. So whilst some might be smarting about the changes that have occurred in our industry, the real winners will be those who welcome the change and embrace these opportunities.

 

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