In today’s marketplace, changes and disruptions are becoming the rule rather than the exception – and, according to marketing and insights professionals, this is having a serious effect on how they conduct research.
To understand the state of the agile research landscape – and where it’s headed going forward – we surveyed 395 insights and marketing professionals from 25 different industries and 14 global markets. Below are some of the highlights.
The need for market understanding
When we asked marketing and insights professionals about their budget allocation for research, one area stood out above the rest. On average, respondents are allocating 31% of their budget for market understanding research – ahead of new product development (NPD), branding, and comms.
This trend is unlikely to reverse course. Fifty-eight percent of respondents expect to increase their market understanding budget over the next one to two years – again ahead of NPD, branding, and comms. Respondents in the Asia Pacific region and in marketing professions, specifically, are even more resolute in their belief that they will conduct more market understanding research in the near future.
The challenges researchers face
We also asked respondents to share the top challenges they face in their day-to-day roles, and there was a clear top two: limited budgets (61%) and limited internal resources (47%). These were followed by actionability of insights, quality of research vs speed, and data quality.
When asked about current areas of focus within their organisations, actionability of insights was cited again. With limited resources and budget, it’s critical that research initiatives deliver high-quality insights to drive important business decisions.
The acceleration of tech
Today’s marketing and insights professionals use varying service levels to support their research needs at a given time, including DIY, assisted, and full service. This demonstrates the need to be agile from a service model perspective.
When asked about the future, 64% of respondents said they expect their use of DIY research to increase in the next one to two years. Assisted service is also expected to experience a net increase in usage, while full service will see a downturn.
How will marketing and insights professionals effectively make this shift? By increasing their reliance on research technology platforms. Currently, half of respondents say they use two or three tech platforms to support their market research needs, and over half of respondents say they expect to increase their number of research technology platforms over the next one to two years.
Not only are they open to research technology, but they’re open to new tools, too. Over a third of respondents say they will start using AI in their research, and four in ten say they will increase their use of online qualitative research.
The need for smart simplification
While marketing and insights professionals plan to increase the number of research technology platforms they use, the platforms must make the research process simpler – and simplification can come in many different forms.
When we asked marketing and insights professionals what would be most important in their day-to-day roles over the next one to two years, 66% cited scalability. They also desire proper onboarding and a user-friendly experience. Sixty-two percent of respondents want training on tech platforms, and over half desire easy-to-use tech platforms. As they navigate internal change – whether that be employee turnover or financial ebbs and flows – they will need technology that makes their lives simpler.
They will also need platforms that deliver the high-quality data and insights they need to support important business decisions. Sixty-three percent of respondents said that integration of different data sources will be important to their roles in the coming years. And when asked what areas suppliers should be focusing on, over half mentioned quality of insights, design, and data, as well as easy-to-use outputs.
On the overall findings of the research study, Susan Vidler, Global Chief Research Officer at Toluna, said: “In order to address the challenges that insights and marketing professionals face, technology platforms need to be easy to use and must provide scalable, high-quality research solutions and outputs.”
This article was first published in the Q3 2022 edition of Asia Research Media