How can market researchers collaborate to stay up-to-date with industry trends?

As a member of the board and past President of ESOMAR, I highly recommend associations and their communities (both offline and online) for staying up to date on the newest methods and sector trends. I simply would not have the global career that I do if I hadn’t become a member. Learning from others, particularly in markets outside of the US (which tends to be very insular) is key to understanding where the sector is heading.

In my personal experience, online communities have proven to be one of the most convenient means for market researchers to engage in collaborative efforts. Utilizing LinkedIn groups, industry newsletters, and participating in webinars hosted by research organizations all serve as effective avenues for fostering collaboration and staying well-informed about prevailing industry trends. Many countries and regions have market research associations, such as the American Marketing Association (AMA) or the Market Research Society (MRS) in the UK. These associations often have online communities, webinars, and events where we can connect with fellow researchers.

I actually agree with this. Joining online communities dedicated to market research can be beneficial. Online forums and communities provide a platform for market researchers to interact with a wide range of professionals from different backgrounds and industries. By participating in discussions and asking questions, you can gain insights and perspectives that you might not encounter within your immediate professional network. This diversity of viewpoints can lead to a more well-rounded understanding of industry trends, as well as approaches to research and analysis. It fosters a culture of knowledge sharing and peer support, ultimately helping market researchers stay up-to-date with the latest trends and best practices in the field.

To stay current in the market research industry and provide innovative solutions to customers' latest problems, it is essential to maintain regular and strong communication with them and with Industry stakeholders (market researchers, data scientists, and data analysts). This communication should foster a deep understanding of customer needs and the opportunity to improve and increase the efficiency of research services.

Form a dynamic trend-tracking task force. Then: (1) Create trend scouts by assigning team members specific trends or sources to monitor across different industry spaces. (2) Schedule regular trend huddles. Discuss what's hot and what's not. (3) Encourage cross-departmental collaboration, like a trend summit. (4) Invest in trend-tracking tools and analytics software. Much can be gleaned from the use of the technology. (5) Identify and follow industry influencers and thought leaders. Go right to the source: the trendsetters. (6) Conduct surveys to tap into customer insights. Customers are the “X” mark on the trend map. (7) Implement a trend alert system to react swiftly when a trend emerges - a trend SWAT team.

It can be hard, but force yourself to talk to those outside your traditional group/peers. Find someone at a conference you have never spoken with and share; both parties will normally appreciate it. OK, sometimes I get "Go away, Paul, I don't want to talk about Marvel Movies or the double-slit experiment.....Unless you are getting a round in?" There is so much information out there; if we follow the same people, we risk recycling the same information. I feel the best way to internalise and appreciate new ideas is face-to-face. And seek out the quiet ones; they often have solid, well-formed ideas because they spend less time talking, unlike people like me. :-)

Some other alternatives to be up-to-date with industry trends is to invite some of the industry experts to do a conference in our offices in order to share their latest findings or best practices to us. Additionally, invite experts from an industry that is growing so fast that has become a reference in the country, so it could help us as inspiration to develop or to have new ideas.

The best way to exchange experience is cross country. People in different markets solve problems differently and most of the time it’s applicable to yours. Reach out and keep an open mind to the required fine tuning

Some of the better conferences to attend in the market industry are: the annual Esomar congress and the IIEX conferences (insights innovation exchange) where there's a good mix of agencies and end clients to help push things forward.

In my experience, events can add a lot to any researcher.. the kind of “exposure”that you get is intense so, you gain different prospective..

Industry associations and research organizations offer large number of courses and certifications to enhance the knowledge and to collaborate with peers. Market Research Certifications: Two notable organizations that provide certifications are the Market Research Society (MRS) and the American Marketing Association (AMA). Online Courses and Open Online Courses: There are many online courses and Massive Open Online Courses (MOOCs) available that cover various aspects of market research. Platforms like Coursera, edX, and LinkedIn Learning offer courses in market research, data analysis, and related topics. When choosing a course or program, consider career goals, budget, and time constraints.

Enrolling in online or offline courses is a great way to learn, but it must be complimented with self learning. I have experienced self learning by connecting with experts within the company, studying relevant material and application in real life is a good way to learn new tools, methods and approaches.

Participating in or establishing a mastermind group can be a highly beneficial strategy for market researchers looking to collaborate and gain insights. These groups provide a structured and supportive environment for individuals to brainstorm, share knowledge, and collectively tackle challenges in their field. Consistency is key to the success of a mastermind group. Participants need to make an effort to attend meetings regularly and actively participate.

This year I was invited to participate in a WhatsApp group with other experts in a subject that I had been studying for a while. The discussions are amazing and is possible to keep up to date with all the news in this topic, which helps to always know the latest launches and features.

Market researchers should recognize the immense value of utilizing the sales team as an important tool for gathering information. Sales teams, being on the ground and in direct contact with the market and customers, possess valuable insights that can greatly enhance market research efforts. Their experience and frontline perspective provide a unique vantage point for understanding customer needs, preferences, and behaviors. By leveraging the expertise of seasoned sales teams, market researchers can gather firsthand information that adds significant value to their research findings. Collaborating with the sales team ensures that the market research efforts are grounded in real-world experiences

Expert interviews can be leveraged as a mentorship. Market researchers can conduct interviews with industry experts and thought leaders to gain unique insights, success strategy, tools used by them and how they stay updated with industry trends. These interviews can be a valuable source of information for market researchers to keep learning.

I have some colleagues who are references for me and I always try to catch up with them on a lot of different matters. There is nothing better than learning through the experience of others - it makes the learning process much faster.

I would called it - **The Ripple Effect of Mentorship:** In the realm of market research, mentorship isn't just a one-way exchange; it's a symbiotic relationship. When experienced researchers mentor newcomers, it's not just the mentee that grows. The mentor often finds fresh perspectives, rekindling their own curiosity. This cycle of guidance can lead to innovative methods and renewed vigor in research projects. Moreover, by mentoring or being mentored, we build bridges across generational knowledge gaps, ensuring that the evolution of market research methods continues unhindered. It's like planting a tree whose shade you might never sit under; the industry at large benefits from these nurtured relationships.

As Adam Grant recently discussed, mentorship can also go both ways: not only will a mentor gain value from a traditional relationships, but there now appears to be growing evidence to support 'reverse mentoring' i.e. mid-level staff mentoring more senior staff.

Digital anthropology serves as a toolbox for keeping up with evolving trends. By diving into cultural nuances, we're more than collecting data; we're understanding the narratives that shape consumer behavior. The tools can scan for what's popular, but they can't tell us why a certain trend resonates in one market but falls flat in another. That 'why' is where human interpretation becomes indispensable. And community become more than a support system, but a space where we can exchange the stories that give context to the data. This becomes vital in mentorship relationships, where it's always a reciprocal exchange—I'm not just guiding someone else in my mentorship sessions, but enriching my own understanding of market and cultural dynamics.

Following other researchers on LinkedIn, reading their content, and adding to it using comments and repost features is also a great way to keep oneself updated about industry trends. I will start posting industry trends from Monday and would love input from others in the field.

Connecting with a broad community of peers and stakeholders fosters rich insights. Researchers stay ahead by joining together yet approaching collaboration with thoughtful questions to see trends with fresh perspective, and continually learning together guides effective solutions.

You need to be collecting mental models and worldviews. Putting yourself in the shoes of the people and phenomenons you are trying to understand. Suspending preconceived notions and immersing within that space. I like to think of it as method acting in reseach, participating not just observing.

Connecting informally with internal experts within an organization, discussing relevant aspects with them, putting the learning into real life projects are some time tested ways of learning.