Join me for a Cosmopolitan… Sound bites from day one of TMRTE

bigstock-Simple-Cosmopolitan-603289As the first day of The Market Research Technology Event drew to a close you could find 200+ market research professionals wandering around the Cosmopolitan Hotel with slightly dazed expressions. This had nothing to do with the conference being held in Las Vegas (I’ll leave those visuals to your imagination) and everything to do with the magnitude of change that technology is bringing to our lives – both personally and professionally.

Sound bites from Day One Intensives…

You might be wearing your ‘consumer voice cancelling headphones’ but regardless of how hard you push your brand agenda, the consumer knows… it’s not about you, it’s all about them.

Combine the ubertrend of time compression with the proliferation of our digital society and the result is a very fragmented consumer attention span. Don’t agree? Think of yoga, it’s adult baby-sitting in the simplest form. You pay someone $20 to keep you calm, quite and offline for 60 minutes.

Our vernacular is evolving to match our time strapped, digital society. I’m sure you’ve said OMG with your BFF but don’t let a FOMO drive you to do something that is a CWOT.

Anything you can’t swipe is useless. Don’t believe me? Give a 2-year-old an iPad and a magazine – they’ll let you know which one doesn’t work.

What does this mean for us as market research professionals?

Listen to the customer; it’s about adding value with your product, not being and intrusion.

Keep it simple; help your customer save time.

Developing a product, implementing changes or upgrades? Ask yourself WWJD… what would Jobs do (as in Steve Jobs)? Our brains connect based on experiences, not facts. What kind of experience does your product or service provide?

Anyone need a Cosmopolitan?

This post originally appeared on CROWDTalk.

The Market Research Technology Event… Big Data, Technology and the Future

The Market Research Technology Event kicks off tomorrow morning and I for one, am looking forward to three days of progressive thinking presentations and panels interspersed with some lively discussion and debate among those of us attending the conference. The over arching theme focuses on the changes we are seeing in the market research industry; changes resulting from the convergence of big data and new technologies. This is the second year of the event and if I can use the inaugural conference as a measuring stick, get ready for some unfamiliar ideas that will continue to move us away from the traditional research methods that seem to be the norm.

Reading through the final agenda I’ve created my focus list for the next three days…

  • Use of mobile in gathering market data
  • Big data – managing the overload
  • Gaming as a means of gathering data
  • Social media and crowdsourcing in market research
  • Growth and adoption of real time data

On another note, something that surprised me last year (and at other industry events over the past 12 months) is the resistance I’ve seen to trying new technologies for gathering market data. One would think that as technology evolves and changes so must the market research industry or we risk not being able to connect and engage with our audience. If we aren’t using the technologies and channels where our audience actively lives (and I do mean lives… as in where they communicate, shares their lives, seek information, basically connect 24/7) how can we expect to get their feedback?

I wonder, has a year made a difference? Is there more openness to new ideas or is the market research industry largely entrenched in the same place it was last year? It should be an interesting three days; I invite you to follow the discussion.  You can catch the highlights on Twitter using the hashtag #TMRTE and of course via my blog posts… more to come.

This post originally appeared on CROWDTalk.

Having real time market feedback at your fingertips

The recent launch of Google Consumer Surveys got me thinking what a smartCROWD they are over at Google. Before this post goes any further, I’ll fess up now that we at InCrowd offer a very similar market research option in the healthcare space. With that said, what strikes me most are not the similarities between the two research offerings (and there are a lot of them) but the focus on providing near instant or real time data.

As our technology and social worlds continue to integrate… from how people interact, communicate, find information, to how they share their daily lives… there will be an increased need (desire, want, requirement – insert whatever word you like) to know now. The infographic from OnlineSchools.org tells the story of our digital connectivity…

  • 35% of smartphone users boot up apps before getting out of bed
  • 83% of young people sleep within reach of their smartphones (Personally I love this one, I sleep with my smartphone next to my bed… does that mean I can include myself in the ‘young people’ group?)
  • 10% more people get their news via a computer vs the newspaper
  • 51% of people do online research as part of their daily job
  • 50% of Americans prefer digital communication to face to face conversation

When you think of the vast amount of information available at our fingertips (and I do mean literally in our hands close to 24/7) how can we expect people to wait for market data? Real feedback from real people can now be accessed within minutes – why should anyone wait for data?

Does this formula ring a bell?

Didn’t do much for me either but I’m told it represents the time value of money. In short, money you get today is worth more than getting the same amount one year from now. OK I remember this from business school and you know what? It applies to data as well as money. The market feedback you have today (perhaps before your competition), that you can learn from now (maybe while the crisis is happening), is worth more than learning that same feedback two weeks from now…  by then it’s old news.

So our current smartCROWD pick is Google and the wisdom of launching Google Consumer Surveys so the world can begin to know now.

This post originally appeared on CROWDTalk.