By Krista Joyce, Sr. Director, Research Solutions
All the innovation in the market research space is leading some brands to ask: Do I need a professional market research partner? New technologies make it easier than ever before to launch a survey, whether it is a digital concept test to see if a product concept is viable or a mobile study on customer satisfaction levels. The reality of a closer look reveals that the question isn’t as much DIY versus Done for You, but rather putting each of these opportunities into context. Here’s a closer look at one framework to help brands think through their market research strategies and determine how professional partners and DIY tools fit into the mix.
The Benefits of DIY
Before the emergence of DIY market research tools, the ability to have a conversation with the market was expensive. Only the largest brands could afford it, and then only in specific cases such as ad effectiveness studies or in connection with major product launches. This resulted in a disconnect between the knowledge that all business decisions are better when informed with data and the inability of most brands to achieve that. More technology providers then began launching tools designed to help brands connect more easily with the market. The earliest options included online survey tools and on-demand panels. While these remain core services, today’s more sophisticated and focused tools enable self-driven processes such as digital concept tests, mobile market research and shopper intelligence gathering.
On the surface, it is easy for brands to get caught up in the question of whether they need professional market research partners to execute research programs for them. Even some market research agencies have spent time pondering if they are going to become obsolete with the rise of computer-based MR programs. But I would argue that this is the wrong question. Market research expertise is never going to be obsolete. The better question is how businesses can deploy both technology platforms and human talent to collect the best data and apply those insights in a strategic way.
Understanding the DIY Landscape
A number of different tools fit into the DIY market research landscape. These range from process-related tools such as survey platforms and on-demand samples to productivity boosters such as data visualization and text parsing tools. Typically, tools focus on data collection, categorization, visualization, text or multimedia submission analysis or sentiment analysis.
Researchers have largely found that the latest market research tools allow them to offer better services to brands. These tools make it faster, easier and cheaper to collect high quality data. As a result, it’s possible to gather insights into multiple areas of a business. Some brands use tools on their own to complete projects such as passive data collection or ongoing customer service initiatives, and then work with professional partners on the interpretation.
Ease and Quality: The Differentiating Factors
Not all data is equal, and in that reality lies the security that professional market researchers aren’t going away. For brands, the development of DIY tools means that data can be collected faster and more cost efficiently. It’s possible to stay connected to the market in a way that it never was before, and to do so without breaking your budget. Real-time data gives companies the insights needed to make in-the-moment strategic moves that pay off and raise the overall ROI of market research initiatives. But access to tools doesn’t mean that brands have the in-house knowledge to get quality data.
Consider, for example, the development of an on-demand panel partner. In theory, the availability of these services gives access to a wider range of business consumers. But in order for a survey to be valid, it’s key that the right selection criteria be used when developing an audience profile. What size sample does the survey require in order to be statistically significant? Another area where market research agencies shine is in the development of survey instruments. Bad questions lead to bad data. Professional survey writers understand how to ask questions in a focused, non-leading, and effective way.
The reality of the market research landscape is changing; the advent of new categories of DIY tools is making researchers more effective and opening up the field to brands with lower budgets to gather market research data. Business intelligence leads to smarter strategic decisions. But the core question isn’t whether DIY or Done for You is the right model. Instead, brands and researchers should be evaluating technology opportunities to make every market research initiative as effective as it can be.
Pros and Cons: Evaluating the Benefits
Businesses are often faced with a decision to either pay for professional services or find ways to save on costs. The tools specifically available for the market research and insights industry are designed to offer an alternative to paying high prices for common services. This doesn’t mean common services are necessarily easy or they do not require professional skill. However, with patience, determination and the right technology tools, researchers of all makes and models now have more options available to suit their research objectives and the budget at hand. When faced with a “DIY or Hire” decision, researchers are keen to consider these pros and cons:
DIY Pros:
Significant Cost savings
Fully customized objectives
Faster Timelines
Overall increased research frequency
DIY Cons:
Confidence with the questionnaire development
Estimating uncertainties with the analysis
Lack of executive support to publicize or promote the research findings
Rushed execution can lead to incoherent or “surprising” results
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