Recently Greenbook put out its 2018 “GRIT Report” (Greenbook Research Industry Trends) regarding their observations of the market research and overall research space for the year, and trends moving forward.
We found this to be a particularly interesting piece, and thought it might be beneficial to share some of our thoughts here. The full report can be found here.
The report notes that automation from a demand perspective is in decline in the space, because it actually hasn’t delivered on the promise of making life easier for market researchers. We find this finding consistent with our observations of tools and client experience. It is this thinking that has driven us to build the marketplace for support to enable human wisdom to guide research as the industry works towards better automation tools for the future.
The report finds that suppliers are increasing automation which has driven prices down. We have joined in this trend with automation of recruitment and data cleansing. It is because of the processes that we’ve automated that we can offer greater pricing transparency.
We believe that our marketplace design uniquely positions us to be able to offer the benefits of automation where it is working effectively, and the best possible solution where human knowledge and skills are required.
Surveys remain way too long, and in many places appear to be getting long. As a result of this fact, and the growth in fraud, data quality is decreasing. As you can read about in one of our earlier posts [link] - question efficiency is not just something we talk about, it is something we motivate with our pricing. Partially because of our shorter average survey length (there are better targets for larger paydays by applying fraud elsewhere) and because of our strict fraud controls that include multiple levels of validation of respondent and responses, we have reduced fraud rates to some of the lowest in the industry.
In the GRIT report Kantar was named the most innovative firm. Kantar made news recently when they said they were going to build a marketplace for market research and launch it in a few months (where have we heard of that before?) We’re encouraged to see that this type of innovation is being recognized in the industry, and our head start here is exciting.
In that same vein, webinars are stressed as valuable tools for companies that have innovative platforms to gain acceptance. We are launching a bi-weekly webinar on Thursdays that you can sign up for here: Sign Up.