The 2022 Market Research Trends Report: A Deep Dive into the Latest Insights for Researchers
Introduction
Understanding target audiences through market research is essential for organizations to make smart, data-driven decisions. But with fast-changing consumer behaviors and technologies, researchers must stay on top of the latest trends and best practices.
Qualtrics’ 2022 Trends Report provides invaluable context on the current research landscape. It shares perspectives from over 1,300 researchers across 87 countries on challenges, priorities, and future directions. For leaders looking to enhance their research impact and agility, this report is a must-read.
In this comprehensive blog post, I’ll analyze the report’s key themes, statistics, and recommendations. I’ll also discuss how researchers can apply these learnings to improve processes, adoption, analysis, and strategy. By leveraging Qualtrics’ cutting-edge insights, research teams can deliver greater value and bolster competitive advantage.
Key Trends and Changes in Market Research
The report highlights several notable ways market research continues to evolve. These trends reflect changing customer expectations, disruptive technologies, and ongoing pandemic impacts.
First, speed and agility are crucial. 65% of researchers say delivering insights faster is a top priority. With real-time access to data, stakeholders expect rapid research results. Teams need lean processes to plan, field, and analyze studies quickly.
Research automation and AI are on the rise to enable agility. Already 36% of researchers use solutions like automated sample management. AI-powered analytics, survey programming, and reporting will only expand. The ability to move rapidly without sacrificing quality will help companies create a competitive differentiator.
Hybrid research blending quantitative and qualitative approaches is also growing. 66% of researchers now use blended studies to gain holistic insights. Creative methodologies like online focus groups and gamified surveys provide a more engaging experience for participants. Another best practice is integrating various data sets to provide a more holistic picture of analytics.
The pandemic turbocharged adoption of digital research. 67% of respondents conduct more research online now versus pre-COVID. Remote modalities like online focus groups increase access to participants. With careful design, digital studies can deliver more accurate insights so business leaders can make more informed decisions.
Finally, data analysis is becoming more advanced. Advanced analytics like predictive modeling, link analysis, and text analytics reveal deeper insights. Now more than ever, research teams are investing in data science capabilities to fully leverage research data.
This combination of agile delivery, innovative methods, digital channels, and sophisticated analysis defines modern market research. By embracing these trends, research leaders can deliver strategic value.
Top Goals and Challenges for Researchers
What are research teams’ biggest priorities right now? According to the report, these goals reflect a focus on both improving research fundamentals and adopting advanced capabilities:
However, significant challenges remain to achieving these goals:
Bridging these gaps between aspirations and current capabilities is crucial for elevating research’s strategic value. The rest of the report dives into tangible ways teams can overcome challenges and meet goals.
Accelerating Research Delivery to Meet Demand
With research often driving high-stakes decisions, slow turnaround times can create organizational bottlenecks. The report reveals that timeliness and agility are at the top of researchers’ priority lists.
To accelerate insights delivery, teams are adopting more agile research processes. Planning sprints are one way to enable faster study design. By using automation, business leaders can also streamline previously manual tasks like survey programming. Using real-time dashboards and integrations can also help make data available immediately when paired with business intelligence tools.
However, technology alone isn’t the answer. Researchers cite organizational silos and poor collaboration as major hurdles. Aligning on common objectives, building cross-functional relationships, and communicating regularly help teams work more effectively and more efficiently.
Leaders also need to rightsize expectations around research cadence to match organizational needs and resources. Clearly conveying study timelines and being selective in prioritizing speed for truly urgent decisions enables sustainable agility.
Enhancing Data Quality and Trust
High-quality data is the lifeblood of sound research and strategy. But ensuring completeness, accuracy, and integrity remains an uphill battle. The top data quality challenges researchers report are incomplete data, errors, and bias.
Robust data validation techniques can help address these issues. Setting minimum sample size thresholds, flagging anomalies, and testing for significance combat incompleteness and errors. Random sampling, representative recruiting, and controlled experiments minimize bias.
New technologies also augment data quality testing. Machine learning spots patterns in issues. Natural language processing assesses open-ended responses. Artificial intelligence even helps detect falsified survey takers.
But the human factor in research is just as critical. Investing in team training, providing ongoing mentoring, and conducting project audits instill a culture of quality. Ultimately, high-caliber insights require both methodological rigor and people-centered leadership.
Boosting Adoption Through Effective Storytelling
Generating insights is only valuable if they get adopted across the organization to drive impact. But getting stakeholders to regularly use research remains an uphill battle—just 28% of respondents report high research adoption.
Presenting insights effectively is crucial for increasing adoption. Researchers rank storytelling as the top capability needed to get findings used. Impactful narratives highlight key takeaways tailored to each audience. Data visualizations make concepts tangible. Recommendations provide actionable strategic guidance.
Research teams should involve stakeholders early when designing studies to build buy-in. Consistent cadence in reporting helps make insights incorporation habitual. Friendly digital dashboards give on-demand access to data.
But storytelling skills have room for improvement. Only 35% of respondents consider their teams highly adept at data visualization. Upleveling capabilities in this area through online courses and expert training is a valuable investment. Enhancing clarity, relevance and actionability of reporting unlocks research's potential.
Uncovering Deeper Insights Through Advanced Analytics
Advanced analytics enables researchers to move beyond surface-level observations into higher-order analysis. The report reveals that while basic reporting and dashboards are ubiquitous, more sophisticated analytical approaches are still maturing.
Statistical modeling, predictive analytics, and machine learning offer a wealth of potential. Researchers can identify trends and patterns to forecast outcomes. Text and speech analytics uncover themes in unstructured data. Network mapping visualizes complex relationships.
Boosting analytics prowess requires the right technology and talent. Cloud-based analysis tools provide flexibility. Data scientists and engineers have specialized expertise to implement advanced applications.
But current staffing gaps persist—just 34% of respondents rate their analytics capabilities highly. Growing analytics fluency company-wide through training helps build a culture of data-driven decision making. Analytics accelerates research insights from hindsight to foresight.
Recruiting Quality Samples in a Disrupted Environment
The lifeblood of market research is quality input data. But the pandemic dramatically disrupted traditional participant recruiting and engagement strategies. In-person focus groups went remote. Intercept surveying halted. Pandemic survey fatigue grew.
Research teams have adapted by diversifying their toolkit. Geo-targeting and demographic questionnaires better screen online samples. Gamification and mobile-first survey design boost engagement. Multimedia content like videos and animations enhance digital experiences.
Still, improving sample quality and preventing fraudulent responses remain priorities. Identity validation techniques like two-factor authentication deter bots and false respondents. Shorter surveys minimize dropoffs. Targeted digital and social media ads reach niche audiences.
Balancing speed with thoughtfulness around sampling and recruitment results in the best data. While remote modalities open new possibilities, teams should continue leveraging tried-and-true ways to engage target segments as pandemic conditions improve.
Key Takeaways and Recommendations
This 2022 Trends Report synthesizes the latest research landscape challenges and opportunities. Here are some top recommendations for research teams looking to raise their game:
By embracing these practices, research leaders can overcome hurdles around speed, quality, adoption, analysis, and sampling. Combining agile delivery, analytical rigor, compelling narratives, and technological innovation helps research deliver enhanced strategic value.
Senior Executive across Finance, Media, Sport, Wellness Industries | Entrepreneurial Director with passion for Building Brands across diverse markets | Certified Trauma Informed Somatic Therapist
1 年Very informative ??65% of researchers say delivering insights faster is a top priority. With real-time access to data, stakeholders expect rapid research results. Teams need lean processes to plan, field, and analyze studies quickly.