What challenges do industry research professionals face in professional development and networking?

Industry research is challenging for professionals. The evolution of technology makes it difficult to keep pace. It's hard to find the right insights amidst the noise, and training opportunities are limited. Networking is vital, but it's hard to connect with people in a digital world. Professionals must adapt to new roles and collaborations to thrive. By constantly learning and embracing diverse skill sets, they can excel in the world of industry research.

Industry research professionals face challenges in staying up-to-date with evolving trends, networking, inclusivity, and balancing professional development with work responsibilities. Finding time and resources for workshops, conferences, and training programs is difficult. Virtual events, online resources, and social media platforms can help professionals stay updated and connect with peers. Lack of diversity and inclusivity poses a challenge, requiring a concerted effort to create inclusive spaces and provide equal access to resources. Achieving a balance between professional development and work responsibilities is crucial.

In my view, Market research is like Medicine. A new technique emerges and takes over established research methodologies. An example of this is the Socio-Economic Classification (SEC) system, which categorized consumers based on the education and occupation of the chief wage earner (CWE), has been replaced by the New Consumer Classification System (NCCS). It is based on two variables: the education of the CWE and the number of consumer durables owned by the household from a predefined list. Unlike the SEC, which was an urban-only system, NCCS is a national classification system that takes into account the household parameters to classify households. This new classification changes the entire paradigm of segmentation of Target groups.

Open-source platforms provide a wide range of data, from user-generated content to professional publications. These platforms often provide real-time information, allowing researchers to stay updated with the latest trends. They offer a cost-effective way to gather information, as many of these platforms are free to use.

With the current impact of AI in the market research world, resources are rapidly changing. However our available technologies today will be very different in 1-2 years. It wasn't long ago that data collection was a major challenge for many hard to reach audiences, but now those audiences are easier to reach and that is because of ongoing resources improving rapidly. Read industry magazines like Quirks, attend research trade shows, reach out to other market researchers on linkedin, etc. and form relationships. You can teach each other.

Building a Strong Personal Brand: Overview: Establishing a distinct and positive professional identity. Challenges: Crafting and maintaining a consistent personal brand can be time-consuming. How to Address: Define your unique value proposition, showcase expertise online, and engage in thought leadership activities.

Catalog your credentials, self-assess, and research how others view you. Pay attention to the message you’re sending in every social interaction. Building a personal brand is an intentional, strategic practice in which you craft and express your value proposition.

Industry researchers often have demanding workloads, leaving limited time for professional development. Balancing day-to-day responsibilities with learning can be a struggle.

People or clients are shifting away from just working with companies and are increasingly seeking meaningful connections with the individuals they can ask for their help. They want someone who understands their needs and goes beyond mere understanding to build trust and support. This is where personal branding becomes crucial. It's about showcasing the "why" behind your work and demonstrating to clients why they should trust you.

Keep close track of all the projects you've worked o and put them into categories. Healthcare, technology, financial services, insurance for example - then be ready to explain the types of research conducted by style. It is true promoting yourself can take a backseat due to your workload but it is important to document your studies/expertise. My very first large project I worked on alone was for Apple - I always like to share that even though it is now an old project.

There will be many times in this career where the workload will be too much. If you are working on 5-6 projects at one time, try to stagger the phases of the surveys if you can. For example, try to develop 2 questionnaires while 2 other projects are in field (not too much work while in field) and develop a shell report for the final analysis before the results are final. There are ways to balance the workload. Hopefully you have a team/colleagues who can help divide the workload. The worst thing you can do is get bogged down and start delivering client reports, etc. late. If you need extra time, inform your client very early in the process - not at the end.

- Prioritize tasks - Set realistic goals - Delegate when possible - Manage energy and emotions - Take breaks - Seek support from mentors and peers

Finding and Maintaining a Balance: Overview: Balancing workload, personal life, and professional development. Challenges: The demanding nature of industry research may lead to burnout without proper balance. How to Address: Set clear boundaries, prioritize tasks, and schedule dedicated time for personal and professional growth.

Depending on the industry's nature, there may be limited opportunities for networking, especially if it involves proprietary or sensitive information. Finding the right forums to connect with peers can be a challenge.

I strongly believe that project and people management ranks among the most challenging skills or roles one can undertake. These skills, however, possess the potential to provide the balance you seek in your life.

Joining market research associations is a great way to network and meet others in your field. I personally find some of the annual conferences in market research to be great avenues for expanding my network. On the downside, these annual conferences can be very expensive - some are $3K+ (US) just to attend without including hotel, airfare and meals. I find these costs scare people away. Finding groups for free on Linkedin is where I have expanded my network the most. There are numerous groups formed by market research professionals and the interaction is strong.

Become a member of academic associations or societies can help you connect with professionals in your field. These organizations often host events and provide resources that can aid in your professional development.

Expanding and Diversifying Their Network: Overview: Networking is crucial for career growth and industry insights. Challenges: Expanding beyond existing circles and diversifying connections can be challenging. How to Address: Attend industry events, join online forums, and actively seek out connections with diverse backgrounds and perspectives.

The globalization of industries and the rise of remote work can make it challenging for professionals to establish meaningful connections with colleagues and industry experts.

While market research events are great for building connections, I'd recommend to absolutely mix things up. Don't limit yourself to just industry-specific gigs; explore diverse gatherings. Meeting people in different environments brings in fresh perspectives and helps you connect outside your usual circle and - diversifying your network.

Upholding ethical standards in research is paramount. Ensure that all research is conducted in a fair and unbiased manner, respecting privacy and confidentiality. This is the best way of providing correct value and demonstrating impact in the right direction.

Achieving diversity and inclusion in professional development and networking events can be a challenge. Professionals may encounter barriers based on gender, ethnicity, or other factors.

Illustrating the tangible impact and value of one's work to clients and stakeholders is paramount. Researchers must not only deliver insightful data but also communicate how these insights drive real-world outcomes and business growth. For example, a market researcher might demonstrate how their findings led to a successful product launch or identified a new market opportunity, thus directly contributing to the client's success.

Advancing from a researcher role to a leadership or managerial position may be challenging. Professionals may need additional skills in leadership and management to make this transition successfully.

I am a huge advocate for coaching. The soft skills needed to present to clients, answer hard questions and explain how raw numbers add up to a story - is not something everyone just "gets". I firmly believe it is a skill that needs to be taught and practiced repeatedly. Over time, clients and colleagues will improve their image of you and trust will skyrocket.

Storytelling is one of the crucial soft skills in market research because it helps to communicate the insights and implications of data in a compelling and memorable way. Well-crafted story can have a much greater impact on the audience than a dry data dump.

Besides technical expertise, industry research professionals must cultivate soft skills and specific competencies. Effective communication, critical thinking, and project management are just as crucial as analytical skills. Continuous self-reflection, seeking feedback, and embracing new challenges are practical ways to develop these skills. For instance, leading a cross-functional project team can enhance one's leadership and collaboration skills.

Here’s What Else to Consider: Industry Changes: Anticipate shifts in industry dynamics and adjust professional development accordingly. Global Networking: Consider expanding networks globally to gain diverse perspectives. Professional Memberships: Join industry associations and organizations for networking opportunities and continuous learning. Mentorship: Seek and offer mentorship to foster professional growth for both parties. Industry Conferences: Attend relevant conferences and events to stay updated and network with industry peers.

Industry research professionals can actively seek out relevant training, leverage online platforms for networking, and advocate for mentorship programs within their organizations or industries. Staying informed about industry-specific events and trends and actively participating in forums can also contribute to overcoming some of these challenges.

In an ever-changing industry, resilience and adaptability are key. Professionals should be prepared to pivot their focus, learn from failures, and embrace new opportunities. Building a support network of mentors and peers can provide guidance and encouragement through career highs and lows. Remember, professional development is a journey, not a destination, and embracing the journey with curiosity and openness is crucial for sustained success.

Professional development, networking, and our core responsibilities are often viewed as separate entities or tasks. But what if you fuse them together? You can attend a seminar with colleagues or discuss the latest research trends with your LinkedIn connections. Networking isn't a checkbox on a to-do list. It should weave seamlessly into our day-to-day work :)