Horst Feldhaeuser’s latest contribution to the Research-live blog addresses how market researchers can stay ahead of the sweeping social, economic and cultural changes that are occurring in the trust economy
Consumer expectations have spilled over into our market research space, and to continue garnering the valuable insights we need, we must start to shift our thinking.
Horst’s article, “Keeping Up with the Trust Economy” dives into how market researchers must examine consumer behaviors in this new economy with “a lens of not only how to continue to reach consumers, but also how this new environment can provide tips for our industry practices and methods.” He outlines several key areas in which we can start to make changes, including:
Cultivating trust by creating strong partnerships with clients that are based on transparency and communication loops.
Balancing the use of do-it-yourself methods - which meet the need for greater control - with a collaborative, relationship-based approach.
Offering nimble technology that is fit for purpose when it comes to market research applications.
He concludes the piece by reiterating the need to “take some clues from those consumers with whom we claim to be close (or hope to be).” He writes: “We don’t need to struggle to keep up if we are smart about what we choose to focus on: taking the time that technology allows us to build in forward-thinking methodology. We must think about allowing control, transparency, and participation for research stakeholders and stay ahead of the curve using the technology we may already have available to us. We too, can build trust and keep that competitive edge when it comes to understanding consumers, the new economy in which they operate, and how we fit in.”