Our new white paper examines economic and social trends that are driving change, how they are affecting the consumer insights space, and creating new opportunities for market research.
“Consumers are seeking control, information, transparency, and accountability in every aspect of their lives, creating what some refer to as a trust or sharing economy,” said Ant Franklin, CEO of Infotools. “It’s foolish to think that market research can operate in traditional ways that don’t take these sweeping societal and economic changes into account. Our new paper takes a closer look at these trends and outlines ways that we can respond to achieve quality outcomes.”
“Rise of the Trust Economy: Top three things market research must do to keep up” recognizes that important outside factors are driving a change in market research at a fundamental level. The industry can start to meet this change by addressing the way we approach client relationships and our role in the research process. Making investments in both client relationships and technology that allows us to achieve goals for speed, quality, and transparency are good places to start.
The three top recommendations in the paper include:
Encouraging strong partnerships from the start of the relationship, including having a plan, carving out significant meeting time, and gaining a deep understanding of goals. Complementing this with methods for building visibility into processes and creating a feedback loop can achieve alignment with the principles of the trust economy.
Giving clients more control over the process. Demands for transparency and control are changing the way we approach research with collaborative tools and DIY technologies; it’s time to start using them.
Offering nimble technology that allows the level of participation craved in today’s world, and speeds up mundane tasks can help provide the time needed to feed natural curiosity and dig into the data to uncover new truths.