Marketing research agencies must continue to adapt their strategies in order to keep up in the digital age. In order to best understand current and potential customers for business decisions, marketing research agencies must be prepared to face numerous changes. Marketing research involves finding ways to satisfy customer or consumer needs, so it is important to develop research methods that will allow your agency to beat competition. As we continue through the digital age, it is exciting to study the future of marketing research because this topic is likely to be profoundly different within the next decade.
Social media and mobile technology are just two of the game-changing technologies that have had a large impact in the market research world. In the future, surveys are likely to no longer be the dominating research platform, but data will come from a variety of technology companies. Companies may move away from questions and answer survey research to techniques that use applied neuroscience. Consumers will have an even shorter attention span, so the effectiveness of traditional surveys is likely to decrease due to increased technological distractions and time pressures. Today’s qualitative research and new product marketing will likely stay relatively similar, but quantitative research will continuously become more computerized.
Big data will continue to have an enormous impact on marketing research in the future. Passive data collection will continue to become even more important through the increased use of technology. Every aspect of our lives will generate data since everything is becoming smart and connected. This will lead to a massive increase in the data volume, which will lead to increased consumer behavior knowledge. Researchers need to understand that automated analytical tools are changing the methods of research that are best to reach target consumers. The number of mobile Internet users has already surpassed the number of desktop users, so marketing researchers should alter their methods to account for each screen. New technologies will go beyond tracking your movement in stores to find a breakthrough way to improve the accuracy of market research.
According to Vision Critical, there are three trends shaping the future of marketing research: the rise of mobile research, listening on social media, and the ability to gather insights at the speed of your business. First off, mobile-generated data is used for personalized campaigns and hyper-targeted messages. Smartphones are already used to gather data, but mobile marketing research is expected to continue to increase. More companies are becoming active on social media due to social media’s in increasing customer purchasing decisions. Most companies need an online presence in order to thrive, and this need will only continue into the digital age. Internet has increased the speed of business and innovation, so analysts will continue to develop ways to tailor promotions to customers through cell phones and any current technology.
Market research companies will need to invest in software in order to collect the correct data, so these companies will need to become technological companies to keep up with competition. Traditional market research will no longer be enough. Brands will add tablets at kiosks to record all interactions with customers. Overall, the future of marketing research will revolve around technological innovations that lead to a more mobile and computerized approaches to get quantitative data. As I begin my marketing career, it will be exciting to see whether these marketing research predictions play out and what new unexpected forms of marketing research emerge.