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?

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• Or,

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