Post on 08-May-2015
A short course in Market Research with Ray Poynter
(English language)
Lesson 5 Thursday, 17 July Ch. 17, Emerging research methods Ch. 08, Communities Ch. 09, Social media research
@RayPoynter ray.poynter@thefutureplace.com
Dates and Modules 01
Thu 3 July
Introduction The context for market research Communicating results
02
Tue 8 July
Quantitative research Writing questionnaires
03
Thu 10 July
Qualitative research Analysing qualitative data
04
Tue 15 July
Major applications of research Mobile market research
05
Thu 17 July
Emerging research methods Communities Social media research
06
Tue 22 July
Fri 25 July
How to analyse quantitative data Quantitative analysis techniques Pricing research
07
Thu 24 July
B2B (business to business) International research Political polling
08
Tue 29 July
Research ethics, Guidelines and laws Current areas of sensitivity Questions from new researchers
EMERGING RESEARCH METHODS Part A
Behavioural Economics and Neuroscience
• People often cannot say why they do things
• System 1 and 2 thinking – System 1 - Automatic responses
– System 2 - ‘Thinking’ responses
• System 1 is about 90% or more of life – Buying, choosing, reacting, viewing, etc.
• BE and Neuroscience try to research System 1 – Experiments
– EEG, fMRI, Implicit Association, facial coding, voice analysis, biometrics
Elephant and Rider
From Chip and Dan Heath
Biometrics
Biometrics seeks to capture underlying emotions, non-conscious, System 1
Examples:
– Eye-tracking
– Movement
– Heart rate
– Sweat (galvanic skin response)
– Voice
Facial Coding
• Based on the work of Paul Ekman
• People’s faces ‘say’ what they are thinking – Even their automatic/System 1 responses
• Global phenomenon
• Facial coding requires training and experts – Which makes it labour intensive and qual
• People are working on automated, webcam facial coding
Prediction Markets
• Based on the book “The Wisdom of Crowds”
• People are bad at predicting their own behaviour – How many glasses of beer will you drink in
November?
• People are good at predicting other people’s behaviour
• Prediction markets get people to play a game to bet on what the future will be like – Used to predict which concepts will be successful
– Especially by BrainJuicer
Gamification
• Applies game thinking to market research to make it more engaging
– And/or more System 1
• Betty Adamou and Jon Puleston
• Prediction markets is a type of gamification
• Often used in ideation
• Not yet a proven method for surveys
– It might work, it might not work
Big Data • Major focus of attention
– Budgets and investments going into Big Data
• Big Data means VERY BIG data sets – Usually from many sources
• For example – Sales, phone use, internet use, location, history, bank
details etc.
• Good at describing what is happening
• Bad at describing why things happen
• Most Big Data projects will not give a positive ROI – Costs will be bigger then benefits
– But some projects will work – e.g. Target
Big Picture of NewMR
People can’t tell us what we need to know through
surveys
Memory System 1 Emotions
Big Data &
Social Media
Neuroscience, BE, Biometrics, Gamification
In the moment
& Passive
Communities
Emerging Fields
Questions
COMMUNITIES Part B
What is an online research community?
1. Private
2. Branded
3. Customers
4. Community
5. Online
6. Used for research
MROC versus Insight Community
MROC – Market Research Online Community
– Usually only qualitative
– 30 to 300 members
– Ideation, concept evaluation, design etc
Insight Community
– Qual and quant
– 2,000 to 50,000 members
– Wide range of projects
PDF uploaded to the JMRX SlideShare
Short-term versus Long-term
Short-term – 3 days, 1 week, 3 weeks, 2 months …
– Used for a specific research problem
– Good at matching method to budget
Long-term – Usually ongoing, can be 6 – 12 months
– Used as a market research resources
– Used to build ongoing discussion with customers
– Allows longitudinal analyses
Recruitment & Incentive
Recruitment – Mostly from client sources
– Purchased recruit possible
Incentives – Short-term
• Pay per person
• Sometimes per activity
– Long-term MROC • Usually pay per person or activity
– Insight Community • Usually prize draw or no incentive
• Pay for time-consuming tasks – e.g. mobile diaries
4 Keys to Community Success
1. Preparing expectations
– Client, members, moderators
2. Quality of community engagement
3. Quality of the analysis
4. Long-term communities
– Quality of the roadmap
Types of Research Conducted via Communities?
Short-term
MROC
Long-term
MROC
Insight
Community
Concept Screening +++ +++ +++
Ideation +++ +++ +++
Ad Creation +++ +++ +++
Long-term/
Longitudinal - + +++
Ad Testing - - ++
Customer
Satisfaction - - ++
U&A - - ++
Tracking - - +
Market Sizing - - -
Communities
Questions?
SOCIAL MEDIA RESEARCH Part C
Social Media Research?
Narrow Definition
• Finding and listening to naturally occurring conversations in social media
• For example: – Tweet
– Facebook posts (if public)
– Blogs
– Instagram/Pinterest
– Comments
• Mostly quant
Broad Definition
• Social media listening research
• Also: – Drawing samples from SM
– Netnography
– Creating discussions
– Interacting with social participants
– Communities
How is SMR conducted? Define Search
Terms & Locations
Database
Store search results
Clean
Remove erroneous stuff
Analysis
Sentiment & Content
Trends
Measuring over time
Synthesio Case Study
Catriona Oldershaw, Synthesio, UK NewMR “Listening is the new asking” – Text Analytics and Market Research, March 8, 2011
Project started in 2008
4,000 Accor hotels 12,000 Competitor hotels 8 languages
1 Global dashboard 40 Country dashboards 4,000 Hotel dashboards
Integrating listening and surveys
Synthesio Case Study
Catriona Oldershaw, Synthesio, UK NewMR “Listening is the new asking” – Text Analytics and Market Research, March 8, 2011
Surveys Open posts Collaborative rating: Tripadvisor, Booking.com, Expedia
Online proved to be more positive than surveys
Integrating listening and surveys
Catriona Oldershaw, Synthesio, UK NewMR “Listening is the new asking” – Text Analytics and Market Research, March 8, 2011
Unsolicited, unstructured
Unsolicited, structured
Wall Street Journal October 2010
What can SMR do?
• Access – Real conversations
– Between real people
• Avoids the bias created by interviewers and researchers asking questions
• Answers questions that researchers have not asked
• Key areas of interest – Brand tracking
– Customer satisfaction
– Ideation and innovation
What can’t SMR do?
Answer most of the questions that researchers want to ask
– Should we launch a new flavour of Coke?
– Should we make the detergent pack larger?
– Should we increase the price of journeys on the train?
– Which of these new ads should we use
Deal with small or low salience brands – Deal with low salience topics
SMR 2.0?
1. Social Media Research has not met expectations – It was expected to replace large parts of market
research
2. It has underperformed because – Too expensive
– Too time consuming
– Does not answer ‘Asked questions’
3. However, Social Media Research 2.0 may be on the way – Interactive social media research
Questions
And The Quiz
Feedback for the next lessons?
• If you have feedback now, GREAT!
• Or,
– Email it to ray.poynter@thefutureplace.com