“Groups often make better decisions than individuals, but you need to create an environment in which people can express themselves and in which other people are prepared to genuinely listen to alternative points of view,” stated Eric Salama in a recent blog post. He went on to say, “Marketing can be an enormous force for good. The industry should remind itself more often of the impact it can and does have.”
What does personal loan usage look like among your customer segments or within your footprint? In the latest Lightspeed Financial Services Group post, we look at consumer trends across secured and unsecured loans.
The world of marketing research is constantly evolving – new technologies enable consumers to move onto the ‘next thing’ seconds after engaging with a survey today. Given the fast pace of change with our industry now, ESOMAR initiated a “Research Rally” series to challenge researchers and expand their ways of thinking, and designing.
The notion behind the event was simple – researchers would collectively evaluate local start-ups looking to improve their business model, product or services. Currently Britain is experiencing start-up fever: 80 new businesses were born each hour throughout 2016. However, these rosy statistics are tainted by the fact that 9 out of 10 start-ups fail. In today’s competitive marketplace, lucky guesses are no longer enough to create a successful innovation – the decision to invest in market research might determine a business’ survival.
I was lucky enough to attend the recent MRS Impact Conference and sit in on seminars covering the perennial problems that Market Research is said to have, including: What do we call ourselves? How do we add value? What do we do about automation?
On a recent earnings call, Sir Martin Sorrell, CEO of Lightspeed’s parent company WPP, talked about what keeps him up at night. And no; it’s not (necessarily) his infant daughter – it’s Amazon.
“And I would just mention the rise of Amazon, because in answer to the question, my favorite question is what worries you when you go to bed at night and when you wake up in the morning. It's not a three-month-old child (laughter), it's Amazon, which is a child still, but not three months. And Amazon's penetration of most areas is frightening, if not terrifying to some, and I think there is a battle brewing between Google and Amazon.”
I was fortunate enough to attend the Insights Marketing Day event presented by Greenbook; the full day event included eight guest speakers, two panel discussion groups and networking opportunities covering marketing trends and opportunties including:
- why we should look to move to in-house marketing and PR
- the most effective ways to improve start and open rates on email campaigns and getting the communication right
- what marketing automation can do for you
- what clients really think of marketing
- the future of social media
- how people can be influenced and persuaded
The role of marketers in today’s global, complex organizations is changing. Adapting to technology platforms, expanding client needs and diversified user preferences can pull marketers to alter, modify and adjust directions with regular occurrence. From relationship marketing to automation, marketers need to look beyond the usual brand channels to reach their audiences effectively.
Today, 22% of the world’s total population uses Facebook and LinkedIn boasts more than 450 million user profiles, but moreover, almost 80% of time spent on social media platforms happens on mobile. Marketers need to be able and willing to track the changing behaviours and demographics to optimise opportunities with their audiences. As we start a new year, I, as a marketer working in market research, took a look at some of the marketing trends that will likely influence the requirements of our industry over the next 12 months.
With the Federal Election fast approaching, Lightspeed GMI took a look at the outlook and viewpoints of Australian’s ahead of voting this year…because everyone has an opinion on the topic and everyone wants a finger on the pulse of which way this might swing.
Starting with the fundamental in any political study, we asked panellists which party they intend to elect. Labor was the clear front runner with 45% stating this is where they would be putting their vote. This was followed, not surprisingly, by the Liberal Party/ Coalition at 30%. 13% suggested their vote would fall outside of any of the major parties.
The Marketing Research Shared Interest Group (SIG) of the Cincinnati American Marketing Association meets monthly to discuss industry issues, growing trends, techniques and methodologies. During the February meeting, Brian Lamar from EMI Research Services led a great discussion across multiple industry topics. One common thread across all key points: clients.
Market research is a complex industry with a simple mission: quality. We take what we do best as researchers and are constantly tasked to create new value for our clients, our partners and our panellists. We are always in a state of transition - altering what we do and how we think to meet the new marketplace realities. Creating growth that is organic, profitable, unique and sustainable requires innovation and risk-taking.