Archive for the ‘Consumer Research’ Category

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Surveying the Consumer Survey Landscape

Following the launch of Google Consumer Surveys, Simi Dhawan offers her thoughts on this new way of gauging consumer opinion

Every month, here at B2B International, we hold a working Lunch & Learn meeting for all executives. This serves as a sort of groupthink discussion into ways of advancing the business, whilst raising collective awareness of hot topics (think ‘Big Data’ or ‘Mobile Research’).

Last month, having just launched our B2C arm ‘Deep See’, it was not surprising that the recent commence of Google’s Consumer Surveys tool cropped up. Similar to ads, a business pays Google in order to construct a self-designed short survey that reaches consumer audiences by being embedded within publisher sites (e.g. Adweek) with access to select consumers/readers, who can be targeted accordingly. Whilst readers browse articles, a short survey question will pop up and readers are then introduced with the trade-off between answering the question (taking a few seconds of their time) in return for gaining access to the premium content they are seeking. Publishers then receive a percentage of what Google charges the business who is commissioning the research – a ‘win-win’ money-making model.

Figure 1: Google Consumer Surveys Homepage – www.google.com/insights/consumersurveys

Whilst one reader, in response to James Verrinder’s article about the tool within Research Live magazine, exclaimed:

‘I think everyone in the industry just peed their pants,’

this is not entirely true. Whilst any new (and mass) means of data collection does of course stir up a gossip frenzy, it does not mean that we are cashing in our chips or drawing up a panic-ridden contingency career plan just yet.

In truth, I admire Google for recognising this opportunity, which looks as though it could potentially provide a more cost-efficient alternative for smaller businesses with limited resources from which to commission what might otherwise be a full-scale and detailed research programme. However, whilst it is well suited to short, quantitative surveys (more comparable to a ‘dip your toe in the water’ polling survey), this type of research is not without limitations…..and more specifically, it is of little current value for the B2B researcher (as its name implies).

Whilst Consumer Surveys is able to target respondents based on basic demographics i.e. age, gender and census region, it can go no further than this. Moreover, if the total survey length is 3 short questions, then another limitation of the tool is that each question is actually answered by a different person, rather than allowing a single individual to complete all of the questions (which places the validity of any cross-analysis into question). More than this, there are time restrictions. Should you need the survey completing within a certain timeframe then this option may need careful consideration as it is directly related to many factors and, as such, difficult to predict (e.g. from the sensitivity of questions and the screening criteria to publisher site content and competing surveys in existence at the time).

However, whilst understanding these limitations might push our noses back into joint and release us from any emotional whiplash incurred from the initial revelation of Google’s move into the market research industry, one point worth noting is that this will not be the only application Google launches in this space – and the likelihood is that this will cause a ripple in terms of sparking others to think of new, innovative measures to harness insight from ‘Big Data’.

Posted in Big Data, Consumer Research, Deep See, Mobile Research, Simi Dhawan, Thursday Night Insight |
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Deep See – New Global Consumer Research Company Launches

Deep See is the new global consumer market research and intelligence company from the stable of business-to-business specialist B2B International.

The official launch of Deep See is being celebrated in style, with the release of special balloons at each of the Deep See offices in London, New York and Beijing, plus the unveiling of the Deep See droid, with a competition to use research skills to unlock his name running at www.deepseeresearch.com/launch.

As the new company name suggests, Deep See promises to go to great depths to get to the bottom of what customers really think. It will specialise in international research and deliver insight and consultancy that drives change and action for clients.

B2B International, as a leading specialist business-to-business market research consultancy, has launched Deep See to establish a foothold in the wider consumer arena and to meet increasing client demand to research the whole b2b2c value chain. By using B2B International’s established global network of offices, plus researchers and fieldworkers who converse in every language imaginable, Deep See sets out to reach anyone anywhere.

London-based Deep See is headed up by Matt Powell. Powell is confident there is room in the marketplace for Deep See and relishes working on projects which will test products, seek opinions, probe customer satisfaction, assess markets and develop pricing strategies.

It is the international scope, combined with the ability and knowledge to conduct research with all aspects of a company (from internal stakeholders, through to distributors, through to consumers), that Deep See believes will differentiate it from other research agencies.

Deep See’s offering is based around three key needs: brand, customers and products. Some of the services that Deep See offers include customer experience research, social media research, web site benchmarking, and customer segmentation. The former identifies each interaction that the customer encounters along each stage of the journey from cradle to grave; whilst Deep See’s social media monitoring tool keeps a detailed track on what is being said and written about a brand or campaign. Deep See believes these tools are most effective when applied together as part of a wide research campaign.

Powell joined B2B International in 2004 and has worked with high profile companies such as Autoglym, BAA, Balfour Beatty, BOC, Co-operative Bank, Gillette, Intel, Molson Coors, Microsoft and Travis Perkins. He says: “through Deep See’s international research and intelligent insight capabilities, we offer an added dimension. Thanks to the backing and resources of the world’s leading b2b market research consultancy, we already have a deep understanding of the whole supply chain and the issues that affect every area of a company, allowing us to analyse findings in ways that other research agencies wouldn’t think of and offer a fresh perspective to a client’s business.”

B2B International director and founder, Nick Hague, says: “Deep See is another example of the diversification of B2B International, following 2011’s launch of our specialist creative marketing communications and brand agency B2B Marcomms.”

Posted in Consumer Research, Deep See |
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Impressive growth continues for B2B International

Another strong year of growth for international business-to-business market research and market intelligence specialists

B2B International reported another excellent year in 2011, with revenue breaking the £4m (US$6.3m) barrier and profit increasing by 21% from £580,000 to £700,000 EBITDA*. Since its formation in 1998, the company continues its record of growing its revenue and making a profit for 14 consecutive years.

CEO Matthew Harrison attributes the company’s success to a number of factors:

“Despite the difficult economic environment in UK and Europe in 2011, B2B International’s growth in this region was its best ever at 33%. North America also had an excellent year, equalling the record year of 2010. Another reason for our success over the past few years is the increased diversity of our customer base. The financial sector is now our third biggest sector, complementing the two traditionally strongest markets of engineering and manufacturing, and chemicals and gases; and business services continue to grow. Finally we have moved towards the ‘productisation’ of much of our offering, developing a number of metrics that are pre-defined before a project, add value to the customer and allow comparison with aggregated data, all of which clarify our outputs in the minds of our clients.”

B2B International’s growth plans have not abated for 2012. An office in Chicago was opened a month ago, and an ambitious foray into the consumer arena is promised, with a new consumer subsidiary Deep See Research (www.deepseeresearch.com) set to launch in April.

Posted in B2B News, Consumer Research, Deep See, Growth, Market Research, Matt Harrison |
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B2B International Set To Launch Consumer Market Research Agency

Deep See is a new consumer market research and intelligence company – from the stable of business-to-business specialist, B2B International

There are lots of consumer market research companies out there, so why choose Deep See? As the name suggests, Deep See promises to go to great depths to get to the bottom of what customers really think.

London-based Deep See is due to launch early April, and is headed up by Matt Powell. Powell is confident there is room in the marketplace for Deep See and relishes working on projects which will test products, seek opinions, probe customer satisfaction, assess markets and develop pricing strategies.

B2B International, as a leading specialist business-to-business market research consultancy, has launched Deep See to establish a foothold in the wider consumer arena and to meet increasing client demand to research the whole b2b2c value chain. By using B2B International’s established global network of offices, plus researchers and fieldworkers who converse in every language imaginable, Deep See sets out to reach anyone anywhere.

It is this international scope combined with the ability and knowledge to conduct research with all aspects of a company (from internal stake holders, through to distributors, through to consumers) that Deep See believes will differentiate it from other research agencies.

Some of the services that Deep See will offer include customer journey mapping, social media research, web site benchmarking, and customer segmentation. The former identifies each interaction that the customer encounters along each stage of the journey from cradle to grave; whilst Deep See’s social media monitoring tool keeps a detailed track on what is being said and written about a brand or campaign. Deep See believes these tools are most effective when applied together as part of a wide research campaign.

Powell joined B2B International in 2004 and has worked with high profile companies such as Autoglym, BAA, Balfour Beatty, BOC, Co-operative Bank, Gillette, Intel, Molson Coors, Microsoft and Travis Perkins. He says: “through Deep See’s international research and intelligent insight capabilities, we offer an added dimension. Thanks to the backing and resources of the world’s leading b2b market research consultancy, we already have a deep understanding of the whole supply chain and the issues that affect every area of a company, allowing us to analyse things in a way that other research agencies wouldn’t think of doing and offering a fresh perspective to a client’s business.”

B2B International director and founder, Nick Hague, says: “Deep See is another example of the diversification of B2B International, following 2011’s launch of our specialist creative marketing communications and brand agency B2B Marcomms.”

Follow the latest developments on Twitter: @DeepSeeResearch or @B2B_Insight

Posted in Consumer Research, Customer Journey, Deep See, Matt Powell, Mystery Shopping, Nick Hague, Social Media |
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Data Holds the Key

 
In this article, Stefan Stern, writing in the Financial Times, leads with a quote from The Graduate in which Mr McGuire addresses young Ben with the words “I just want to say one word to you, just one word – are you listening – plastics”. Stern suggests that data are the new plastics.

It is true that the buzzword in industry is analytics. This seems surprising to us in the market research industry. Data and analytics has been our baby for the last 50 years. When you drive your car, of course you need to look out of the window, but you would be a fool to set off without checking your fuel gauge or occasionally looking at your speedometer. A map may come in useful or, more likely today, a Sat Nav (GPS). Our industry has long provided much of the good data on the company dashboard and the Sat Nav to guide your journey.

The problem is that data is fast becoming a commodity. There is so much data handed out for nothing. It is in front of you in the newspaper. It hits you from the television. It sits under your nose in your company and, of course, it abounds on the net. In fact, most of us are paralysed by too much data.

However, there is some data that is almost invaluable. Just think of the things you would like to know about your market. Which customers are likely to be buying the products or services you sell in the next few months or weeks? And when they do buy, what will drive their decision? Where do you sit in their consideration set? What are the unmet needs in your market and how could you satisfy them? What will your market look like in five years’ time? Who will be the competitors to wrestle with then? The list could go on and on.

What do you think? Will data be the new plastics?

 
Smarter leaders are betting big on data

By Stefan Stern
Published: March 9 2010

Last week a very wise man – OK, it was my chief executive – said a smart thing. “Data is the new plastics,” he declared. This was a sly reference to a famous scene in the film The Graduate. What he meant, I think, was that the unlikely subject of data has suddenly become fashionable. It is now the sort of discipline you might encourage your son or daughter to pursue.

Clever people talk knowingly about “analytics” – managing better with the use of data – as if they have discovered the secret of business success. Perhaps they have. Software companies are certainly pushing the concept hard.

Last month the consultants Accenture announced a partnership with the IT company SAS. They are forming an analytics group which will offer what they call “predictive solutions”. This means getting hold of useful data fast and interpreting them intelligently, to try to anticipate sudden changes in your market, or to spot gaps others have not yet seen. IBM is touting its analytics capabilities aggressively, while SAP is also talking a good analytics game.

I was recently given a briefing by Vivek Ranadivé, the chief executive of Tibco, a Nasdaq-listed software company, on the emerging possibilities of our data-rich world. Mr Ranadivé is something of a visionary in this field. His first book, The Power of Now, was published 11 years ago. This was followed in 2006 by The Power to Predict. His latest book, The Two Second Advantage, will be out this year.

Mr Ranadivé is dismissive of what he considers outdated approaches to the handling of data. “We have 20th-century infrastructure trying to solve 21st-century problems,” he says.

During the past two decades, companies have become good at storing large amounts of data. Databases contain historical information about transactions that have been carried out. But what about all those near-misses, when customers visit your website, stay a while but leave without buying anything? A passive database will not record any of that activity. It will not even know that such things have happened.

Mr Ranadivé says we should think of business in terms of events, not transactions. Near-misses are customer events, too. The latest approach to data tries to spot these events in real time, so businesses can make use of that information quickly. In the jargon, this is called “in-memory analytics”, so called because memory has become a cheap and almost infinite commodity, and all that customer activity can be monitored live, as it happens.

Faster transmission of information makes a lot of things possible: marketing campaigns that react quickly to what customers want, smoother-functioning supply chains, even the introduction of the “smart grid”, which can spot possible power outages much sooner.

Last month Thomas Davenport, professor at Babson College, and Jeanne Harris, director of research at Accenture’s high performance institute, published Analytics at Work, a primer for managers who want to introduce a more rigorous approach to the use of data. It is a challenging read, in part because it makes plain how much work has to be done to capture and use data effectively.

But even academic experts agree that, however sophisticated your approach to data, you still need judgment to make good decisions. When Prof Davenport met a pilot at a party and started discussing analytics, he received this reply: “Oh yes, we’ve got lots of that in modern airliners – avionics, lots of computers, ‘fly by wire’, and all that. But I still occasionally find it useful to look out the window.”

Others are even more sceptical. Paco Underhill, a retail guru and chief executive of the consultancy Envirosell, says that today it is almost too easy to accumulate data. Instead of going to witness things first-hand, managers do a lot of their thinking sitting down, staring at spreadsheets. He is a great advocate of rubber-soled shoes. Get away from your desk, he says, and go and see for yourself. Wear rubber soles at your Envirosell interview if you want to get hired, Mr Underhill advises.

Not everyone will be fired up by the idea of plunging deep into a world of data. In the 1960s, bright young graduates, like the Dustin Hoffman character in the movie, did not all choose to pursue a career in plastics. But one young chap at General Electric did. Welch, I think his name was. Things seemed to work out pretty well for him.

Posted in Consumer Research, Customer Satisfaction, Data Quality, Market Assesment, Needs |
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