The NGMR Top-5-Hot vs. Top-5-Not: Market Research Industry Predictions by Sean Copeland
- Advanced text analytics will become an everyday norm for researchers using open-end survey responses, social media data, and other online data from sources such as market research online communities or online focus groups.
- The blur between quantitative and qualitative research will continue to grow as river sampling and snowball sampling become more popular online and emerging businesses lose sight of “statistical representativeness”.
- Return on investment (ROI) analysis using integrated data sources will start to become a requirement when conducting market research as clients become more frustrated with poor returns on their marketing and operations initiatives.
- Statisticians, programmers, and other mathematically disciplined people will become the most sought after and highly paid employees in market research companies.
- America’s fortune 500 will be hit harder than ever before by the next recession, which will result in the increased need for market research companies to head-up successful business initiatives instead of just providing business insights or recommendations.
- Standalone research methods, including social media monitoring, will no longer be used as standalone methods for studies by market research suppliers because multi-method data integration, including customer relationship management (CRM) platforms, will become the norm.
- Some of the most successful and publicly traded market research companies that focus on dated statistically representative methods will lose massive proportions of market share to new comers to the industry that focus on emerging technologies and building business in niche markets.
- The newly infamous market research games will not come to fruition in the extreme way people were hoping in 2011, but rather they will influence the way survey software is designed to encourage engaging next generation surveys.
- Neurological market research or “neuromarketing” will remain a niche research method due to it’s high costs and relatively complicated designs.
- The death of market research will never come, regardless of the dozens of articles and industry professionals that claim it has died.
If you have any questions about where my wild predictions came from then please message me on Twitter or leave a comment below and share what you think about my market research industry predictions!
* Are you interested in reading more about new market research, but you can’t find what you’re looking for on my blog? Take a look through my list of Top Market Research Blogs of 2012 for some ideas of where else you can look for great information.