We write for Advertising Week about the power of blended methodologies in market research
Our Chief Research Officer, Heather O’Shea recently wrote a piece for Advertising Week, entitled “Here’s why I doubled down on market research”.
In this article, she looks back on the explosion of ‘Big Data’, the rapidly evolving martech landscape and the ways in which many traditional media measurement techniques are declining in validity.
“Marketers are scrambling to find new ways to understand their audiences and make predictions about behavior in the face of technological shifts and intensifying consumer privacy demands,” she warns, pointing out that the need for market research has never been clearer; despite what she terms a ‘prioritization’ battle between market research and media measurement.
Heather looks back on her career, and notes that, ‘over the years, I have seen the value of market research techniques rise to the surface, again and again’. Certainly this remains true in today’s complex landscape, in which the case for sophisticated market research initiatives is even clearer as the data ecosystem changes at breakneck speed.
Heather warns that many marketers have been over-relying on direct response advertising and measurement, for instance, which can lead to optimizations whereby ads are served to people who are already predisposed to a brand.
On the other hand, from consumer segmentation to trade-off analyses, and from qualitative interviews to agile neuroscience and eye-tracking, market research can enable us to get to know our audiences deeply. In turn, we can craft the most powerful messages.
Yet Heather also warns that there is rarely a “one size fits all” approach and that building in flexibility from the start is key. So, while some may opt for a traditional survey, with qualitative interviews adding depth, neuroscience can also identify subconscious motivations. Meanwhile, it is possible today to measure creative performance dynamically. In this way, blending methodologies can lead to a multidimensional picture.
Heather concludes that, while media measurement still holds a critical place in the data landscape, ‘it will never give us the foundational level of consumer and brand insights that we need to make the best business decisions. That’s where market research can truly shine’.
To read the complete article, visit: https://advertisingweek.com/heres-why-i-doubled-down-on-market-research/
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