16
Nov

Change is in the Air (and not Just for Market Research)

Change is in the air (and not just for market research)

By Richard Clarke, Vice President, Key Global Partners  |  Vision Critical

2016 has been a year of enormous change.  As I sit here on November 9th 2016, change is something that everyone is contemplating in the US and throughout the world and the implications of this change is yet to be realized as to the impact on our daily lives; regardless of if you perceive this change to be good or bad.

This change comes on the back of Brexit on June 23, 2016 which again created enormous ripples of change and anxiety throughout the world and economies.  When Brexit occurred and as a British Citizen who has been very lucky to travel the world for both business and pleasure, I was sitting in Hong Kong watching from a far the implications of that decision and that change and wondering what it would mean for all of us.

I have since moved back to the US and I am considering all that has happened this year, most recently the U.S. presidential election. I have viewed this through a different lens – a professional lens. So what can we learn from these major societal changes that have occurred in 2016?  As someone that has been engaged and involved in Market Research on a global level for 21 years it has been fascinating to see how many “polls” have gotten 2016 “wrong” (or supposedly so).  What is the impact on market research and polling and the trustworthiness that we as an industry are perceived to provide to the world; how will this affect my livelihood?

What I realize the lesson for me is this year, is that the only constant is change itself and we should not be surprised by these supposedly big upsets.  In 2016, we have seen this and it reaffirms a belief that I have that in this modern day of hyper connectivity, big data and always-on consumerism; we as people and brands need to stay engaged and connected with the people and brands that matter most to us – not just measure numbers and pay lip service to listening – but truly engage in an ongoing dialogue.

As things change and while we try to predict what is going to happen, we as people, brands and businesses can’t and don’t always get it right.  Therefore, the necessity for engagement and relationships is key to be able to adjust and learn as the world changes around us – if we are not engaging with people and establishing an open dialogue, then we risk not getting the right answers.  Listening, connecting and having people buy in to what we as brands are doing translates into results and actions and ultimately loyalty – this can only occur from the establishment of two-way dialogues where both parties talk, ask questions, listen and ultimately establish mutual trust and shared value.

Clients and users of the research industry have the opportunity to do just that; we have the opportunity to not just ask questions (poll people), but actually listen, engage, and collaborate to establish a shared value for all parties involved.  This is the concept of what Insight Communities are – establishing a two-way engagement with customers to drive change and action, not just measure.

Perhaps the key is not just asking questions but connecting with people. And as researchers and marketers that is our role – to connect with individuals and consumers, understand them and create shared value that drives action and outcomes.

If 2016 has taught us anything, it is the necessity to adapt (and change) in this new world and not to be shocked by the unexpected.  For research and for our clients we have to adapt away from just asking questions into a world of engagement where we enable change for our businesses through shared values and collaborative approaches.

It has reminded us that we as businesses need to put our most important stakeholders, our customers, firmly and squarely in the center of what we do – enabling an ongoing dialogue to impact the change and growth that we as businesses want and need to see.  If we don’t, we risk being irrelevant and passed over because we make assumptions – is that a risk any of us wants to take in a world where the only constant is change?

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Richard Clarke is VP of Key Global Partnerships at Vision Critical, working with Morpace on expanding communities and their reach for Morpace clients.

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1
Jul

Change, Courage, and Possibilities

OpportunityBy: Dania Rich-Spencer, Vice President

As you may know, the Q1-Q2 2016 GRIT report was recently released. I always look forward to learning what’s new and exciting in the market research world, and to gaining a deeper appreciation for our client’s perspective. With the most comprehensive sample to date–2,144 completed interviews and participants from 70 countries–this wave delivers an impressive examination of an industry in the process of reinventing itself.

As I was processing the breadth of information in the report, I glanced at a picture on my office wall. A colleague gave me a beautiful picture with the saying “Change of any sort, requires courage.” I frequently look at this picture for inspiration when dealing with personal and professional challenges, and honestly, some days it’s hard to look away!

There is no doubt the disruptive change the market research industry is experiencing requires courageous adjustments from both Research Buyers and Suppliers. ESOMAR recently presented the “Future of Market Research” webinar where they highlighted the necessity for a team-based approach. The case was made that in order to effectively communicate research findings and influence C-Suite decision makers, a multi-disciplinary approach is required. Weaving together a cohesive story and presenting it in a consultative fashion requires contribution not only from a researcher, but also from a data scientist, a synthesizer, a journalist, and an influential storyteller. This insights team needs to be comprised of creative individuals who are motivated by intellectual curiosity, have a desire to influence, and are comfortable working in a fast-paced, unstructured environment.

I’m confident the industry will successfully manage the human capital transition and adopt a more consultative role to drive positive, sustainable change. However, unless we have a comprehensive understanding of what influences consumers’ decisions and precisely why they choose one product or service over another, the impact of the Voice of Customer will be under-stated.

Online research communities deliver vibrant customer stories riddled with illuminating detail that provide contextual understanding. Unlike brand communities or social media, research communities offer an agile solution for developing a synergistic and mutually respectful relationship between customer and company.

As an example, when defectors in an ad hoc Exit Survey were asked the reason for leaving a health plan, cost was the primary reason year after year. However, when exploring potential defection with members of the client’s research community, when cost was comparable, members’ experience with customer support and their emotional attachment to the company played a much larger role in their decision to change carriers. The ongoing, two-way dialogue inherent in a research community enables the customer relationship to be transformed from survey taker to trusted advisor.

It takes courage to build this type of relationship with customers and it takes courage to put legacy systems behind us. The market research industry has a history of making courageous adjustments to consumers’ changing habits and demands of the marketplace. I have another picture on my wall–“When nothing is certain, everything is possible.”

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4
Apr

Consumers’ Positive Reaction to the New Tesla Model 3

 

Consumers' Positive Reaction to the New Tesla Model 3By: Jason Mantel, Senior Vice President

On Thursday March 31st, the world was introduced to the carefully planned unveiling of the new Tesla Model 3 at the Design Studio in Hawthorne, Calif. And it’s fair to say that the world was ready for the news. After all, more than 180,000 vehicles were ordered on the first day, according to the Wall Street Journal.

There’s a lot riding on the Tesla Model 3 both for Tesla itself, as this Slate article opines, and for the electric car market in general. At Morpace we quickly gathered insights and perceptions from our MyDrivingPower online community, a group of more than 300 U.S. based consumers that are current or recent owners of EVs or hybrids, and via our social media platform.

So what first impression did the smallest Tesla make on consumers? Overall, the first impressions of the Tesla Model 3 are generally positive. Morpace measured a net positive sentiment of 70 percent across the social media spectrum. But the good vibes go beyond just appearance or features. MyDrivingPower panelists were impressed with the affordability of the Tesla Model 3, which has a base price starting at $35,000. Beyond just the price point itself, there is a feeling of ‘value’ in the Model 3 offering. Specific quotes from our panelists included:

               “The Model 3 has made my goal of owning a Tesla possible.”

               “It is so much more at an affordable price point than any of the other electric cars.”

We see that consumers may have reached beyond customary automotive media outlets for learning about the Model 3. Instead, sites and blogs that provide technology news are bustling with traffic. We talked to members of our MyDrivingPower community of electric vehicle owners, who are looking to sources like Wired and TechCrunch for their Model 3 updates. These enthusiasts are visiting technology sites (49%) slightly more than automotive sites (44%) to learn more about this Tesla model. Tesla’s own website appears to be a similarly visited site. The introduction of an electric vehicle seems to transcend traditional classification, arguably being as much a ‘technological advancement’ as an ‘automotive advancement’.

As of today, Tesla is generating all the buzz with the anticipation of their Model 3. The number of Model 3 units pre-ordered is likely to rise in the coming months as more information becomes available and familiarity increases. But for today, when thinking about this vehicle and similar models from other manufacturers, our community of electric vehicle owners are leaning towards the Model 3, as compared to the Chevrolet Bolt.

Nearly 9in 10 members selected the Tesla Model 3 over the Chevrolet Bolt, perhaps the most closely similar model available (based on range and price) if they were in the market for a vehicle today. Specific quotes about the Tesla Model 3 included:

               “An industry changer.”

               “It makes all other cars seem old and out-of-date.”

Morpace will be closely following the journey of customers anticipating the Tesla Model 3 over the coming months.

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2
Dec

Online Communities: A Powerful Media Relations Tool

By Jason Mantel, Vice President

A strong selling point for Market Research Online Communities is the ability to collect information quickly, sometimes instantaneously, from community members.  The theory goes that having members is exponentially more powerful than having respondents – members are engaged in your brand, eager to share, will be brutally honest in sharing the feedback your brand needs to hear. They are also available to you when you need them. Paper

As a primary market research firm, this is the line we use to promote MROCs.  Too often, though, these amazing tools are not leveraged for an amazing benefit: speed.

Morpace was contacted by Automotive News for thoughts on the electric vehicle market.  We host a MROC in this space, called My Driving Power.  The request came to our team at 4 p.m. on a Monday afternoon, and some of the questions were on topics where we had limited feedback.  Our first inclination was, “we’re missing that data!” And then suddenly, we remembered what we tell our clients – that MROCs generate fast results. (Really, it took time for this to sink in!) One of our analysts posted a few key questions immediately to our members.  And they didn’t let us down.

By 7 a.m. the next morning, we experienced a nearly 30% response rate, and robust results we could share with the publication.  We were able to answer specific questions, with statistically relevant figures, and pages of valuable comments, literally overnight.  I can’t recall another instance in my research career where that was possible, let alone with such a targeted audience.  (And many of our clients who host communities are yet to leverage their members for this type of benefit.)

I can imagine the value of this result in just about any corporate suite.  Even though I knew how it was supposed to work, I was simply amazed when it did.

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