You're in the Market Research industry. How can you stay ahead of the curve?

Look to other industries for inspiration. Despite being an industry focused on consumer behavior and trends we tend to be rather insular and slow to change. You often see companies only reporting on things if it's data they captured and this lends itself to a narrow field of vision. Go outside of that. Look to industries that have successfully tackled the challenges we now face. Pull inspiration for new methodologies from anywhere you can. Be open to engaging with people on their terms and be hesitant to engage with individuals or companies that claim to have it all figured out. Be a student - constantly and then teach what you learn.

Over the past two decades, insights professionals have witnessed significant shifts in methodologies for data gathering and analysis. Technological advancements play a crucial role in enhancing research capabilities. If not part of the network, join market research conferences, attend presentations, and subscribe to newsletters from ESOMAR, MRSI, and AMA for ongoing insights. Join local market research associations for webinars, ensuring proactive engagement to stay ahead in technology and methodologies.

Innovation and living on the edge - market research is a critical element for any brand. In today's environment the market and the customer both are fast evolving. If we don't evolve with the environment - then insights will become redundant and not actionable. The only solution is to create dynamic and innovative market research methodologies. This includes many things - mobile/app research - make it easy for your customer to share feedback, make the process more engaging and non-bookish or QnA type and many more

In the ever-evolving world of Market Research, staying ahead of the curve requires a blend of adaptability, innovation, and constant learning. Embrace emerging technologies; AI and big data analytics, to unlock new insights. Build strong client relationships by providing storylines, and recommendations if you will, not just data. Finally, invest in your team's skill development to ensure they're equipped to navigate the ever-changing landscape of consumer behavior and trends.

We should always be careful and wise while using new technology. This is the best way to move forward in this fast-changing world. If we avoid new technology, we might miss chances to make our life easier. We should not be scared of new technology. Instead, we should learn about it and use it in the best way. But we should also be careful. This way, we can enjoy the benefits of technology without facing too much trouble. Technology is like a tool. It depends on how we use it. If used correctly, it can make our lives better. But if used wrongly, it can also cause problems.

World has been truly "VUCA" in last few years changing Market Research Landscape.Often report written yesterday can be contradictory for client presentation next day - Build environment in work or in personal space which will enable you to have real time insights This can be achieved be subscribing to series of newsletters from local and international sources and categorizing them in your inbox Discussion with peers on these topics can allow you to understand inter relationship between different aspects

In my experience in market research, while analytical thinking and technical data analysis skills are crucial, effective communication stands out as the most vital skill. It's not just about having the expertise; it's about how well we convey and present our findings. Storytelling and communication prowess are paramount in this field. It's about articulating complex data in a compelling manner, ensuring that insights are understood and actionable for stakeholders. Therefore, strong presentation skills and the ability to convey a narrative around the data are indispensable in market research.

Embrace real-time data monitoring to promptly capture and respond to emerging market trends. This agile approach allows Market Researchers to adapt strategies quickly, capitalize on opportunities, and address challenges in a dynamic business environment.

When I first started in market research, I was terrified to speak to clients. I loved the work and handing the results to a senior-level executive to present but I hesitated to present research out of fear. This was until I had one mentor that trained me how to properly present and share findings. I share this as I see a gap in market researchers who can properly present and tell the stories with data. This is often handed off to senior executives and I think it is a huge mistake that junior staff are not taught how to interact with clients better.

Think Strategically: Take a strategic approach to Market Research by aligning your research objectives with broader business goals and objectives. Focus on delivering actionable insights that drive business growth, innovation, and competitive advantage.

Be sure to network and collaborate not only externally, but also internally at the firm you are working for/with. Sometimes I like to refer to this as “expanding your surface area” within your organization. Be sure to seek opinions from those who could have vastly different vantage points than you on the business. Set up coffee chats with folks from all levels of seniority and disciplines to learn more about what they do. If you’re really up for it, come to those chats prepared to some questions / discussion points to solicit feedback or learn more about what they do, and how that relates to your work. Sometimes insights and new ideas come from the most unsuspecting places or teams.

Les études de marché, comme n’importe quelle analyse, nécessitent de s’investir dans un domaine de manière transversale. Aborder les choses dans leur complexité et comprendre les interactions ou interdépendances entre les différentes variables sont une condition sine qua non d’une étude de marché aboutie. C’est la raison pour laquelle il est recommandé de se nourrir des autres experts pour compléter cette vue d’ensemble.

Here is a different perspective. Learn the basics of how knowledge is created in science. Study Philosophy of Science. For example, it does not do a market researcher much good if they stay abreast of the newest technologies (e.g., AI) if they are also not familiar with some basic concepts from Philosophy of Science. For example, in science, do you know what a theory is? Do you know what a concept is? Are you familiar with the basics of psychometrics? Have philosophers agreed on a definition of "knowledge."

Attending webinars, podcasts and even LinkedIn live events by leading market research agencies and companies is one of the best ways to stay abreast with the emerging trends and advancements in the market . Every speaker generally has a new insight to offer which truly is an enriching experience and definitely adds value to our knowledge pool.

Market research often involves navigating uncharted territory. View it as an opportunity for discovery and learning. Don’t be afraid to refine your approach based on what you learn. Market research is an iterative process, and each iteration brings you closer to understanding your market. Sometimes, the most innovative solutions come from daring to think outside the box. Stay curious and open-minded. The more you learn, the more equipped you’ll be to ask the right questions and devise innovative solutions.

You cannot experiment or innovate unless you are willing to "learn" from every opportunity. For instance, recently, I received feedback suggesting that information representation should commence with the storyline you intend to convey. I incorporated this learning into my experimentation and innovation with data and information, aiming to present the most fitting storyline and adjust the conversation on my terms. The market research and management consulting industry offer a steep learning curve, with exceedingly brilliant individuals providing opportunities to learn and relearn even the simplest concepts—all it takes is the willingness and passion to learn.

Don’t rely solely on traditional research methods. Incorporate a mix of qualitative and quantitative approaches, and explore new methods like ethnographic research, sentiment analysis, and predictive analytics.

In market research, my approach is centered on constant experimentation and innovation. It's a dynamic field that demands a continuous evolution of methods and perspectives to meet the changing needs and expectations of clients. I actively integrate agile, lean, and design thinking principles into my research projects, allowing for flexibility and adaptability. By employing mixed methods, triangulation, and co-creation, I enhance the validity and richness of my insights, drawing from diverse sources and perspectives. Additionally, I leverage prototyping, testing, and learning to validate assumptions and hypotheses, fostering a culture of adaptability that ensures my methodologies stay in sync with the dynamic market landscape.

Innovation through agile experimentation is key to staying ahead in market research. Adopting principles like lean and design thinking enables researchers to rapidly test hypotheses and adapt to findings. This could mean deploying iterative surveys to gauge consumer reactions to a new product concept, allowing for quick refinements based on real-time feedback. By continually experimenting and innovating, market researchers can provide more accurate, timely, and actionable insights, keeping them at the forefront of industry trends and consumer behaviors.

Having a framework is important. While others are constantly talking about not sticking to traditional research methods, it provides a framework. Of course, experiment. For example, beyond talking to customers and researching on google, one can conduct social experiments or a/b test for more insights. New ideas will be specific to the research goals, but as long as you are obsessed with finding the true answer, you'll innovate enough.

A good adaptation technique is identifying your strengths and weaknesses, and then capitalizing on them to form win-win partnerships. Your firm may have a strong suit in digital marketing, for example, but not in activation campaigns. Identify other firms in the field who can complement your strengths, and you can theirs, and try to formulate a working collaboration. This way, resources are utilized more efficiently, and specialization will lead you to be able to curve out a stronger niche for yourself.

The evolution of market research offerings and capabilities is rapid. New offerings come and go but right now it feels different. With so many new offerings related to AI - I believe we’ll have several great tools within 6-12 months. At the moment, I find many AI offerings not ready for mass consumption but improving. With that said, approach the new offerings with an open mind - criticize and support them. Give honest feedback so they improve. Ignoring new types of research isn’t the way.

In my approach to market research, I emphasize the importance of adaptability and evolution. Recognizing the ever-changing nature of the field, I prioritize flexibility and resilience to navigate uncertainties. I proactively shape strategies to align with shifting market conditions, evolving customer preferences, and unpredictable business challenges. To anticipate future scenarios, I integrate scenario planning, foresight, and contingency analysis, strategically preparing for various outcomes. Through continuous feedback loops, monitoring, and evaluation, I not only measure but consistently refine my research performance, aiming for a meaningful impact.

I would add do not stop to learn, contribuite, ask for more to know and understand. As market research is also about intuition and interpretations do not be shy to show and share your point of view. Developing lateral thinking will help you find how the others' point of you can be of interest in your personal or professional Life. At a minimum stage it will help you understanding the diversity around you and improve your adaptability and open mindness.

Foster a culture of creativity and innovation within your team by encouraging brainstorming sessions, experimentation, and out-of-the-box thinking. Embrace creativity as a driver of new ideas, insights, and solutions in Market Research.

Always be willing to try new things, but ensure you do research on research and quickly identify where a new tool fits in your toolkit. Don't get swept away with hype. Think about how a new tool can be added incrementally to your work, don't start immediately thinking about replacing tried and trusted methods Find agencies you trust and offer to be BETA testing partners to help derisk trying something new. Don't assume that quicker and cheaper doesn't come at a cost to quality or your own time!

Treat research like an investment rather than a cost centre. The only way to stay ahead of the curve, is trying new ways of working, new methodologies, attending events and seeing what your competitors are up to. A key question I would ask yourself as a researcher is: "What would my competitor Insight person be doing right now?" You need the answer to their questions, quicker and more efficiently.

As professionals in research, I think it's only natural that we use the techniques that we have in helping our clients in supporting ourselves to so-called "stay ahead of the curve (of the industry)". Talking to the right people (lots and lots of clients and peers) and asking the right questions to illuminate ourselves, for example. Doing social listening and reading industry news regularly help, of course, but equally, just like in our day job, data is not enough. For me, it's all about keeping the brain running, and ears and eyes peeled to draw insights out of all things seen, heard and read each day to stay ahead of the industry's curve. I don't recommend a single method. It's about mixed methods, sharp analysis and brave actions.

I think the key is not settling for the common research methods and prioritising creativity and 'out of the box' thinking when designing the approach or how the results will be delivered. I personally like to really think about what the organisation is trying to achieve beyond the research objectives and how to best fulfil that need. For example, a brand's objective could be to better understand their consumers but there could be an underlying need, internally, to build empathy between the internal team and the organisation's target market. This means there is an opportunity for a methodology that favours engagement between both sides.

From a commercial perspective I’d suggest you develop a deeply inquisitive and “keen to learn” approach to the commercial issues that businesses and organisations have. Clients want expert researchers who also have an interest in their products/ services and the business challenges they are facing. I’d also suggest you read beyond research into other areas of marketing. For example, I’d make sure you are aware of the debates around advertising effectiveness: check out Binet and Field’s work, Byron Sharp’s views and what Mark Ritson is writing about. It’s fascinating stuff and will allow you to spread your influence beyond the research and insight community so that you are relevant to marketing and sales stakeholders.