Following IIeX NA 2017, a market research conference, industry expert Leonard Murphy posted a very interesting blog article on GreenBook in which he listed the 20 most in demand supplier types. Second in demand, behind nonconscious measurement, was online qual/communities.
The strength in demand for communities should come as no surprise. Four of the many reasons companies are investing in insight communities include:
- Market Speed. Technology and a more sophisticated consumer create a fast and ever changing marketplace. Market research online communities (MROCs) help companies keep pace with immediate access and feedback.
- Results/ROI. A recent GreenBook Report shows 59% of researchers using online communities, with another 23% indicating they are considering one. With research budgets facing continual pressure, this is a good indicator of the strong results researchers are attaining with communities. A community allows organizations to greatly increase the amount of research they can execute.
- Enhanced Capabilities. One of the interesting aspects of communities is their evolution. You now see more sophisticated capabilities built into communities such as: filtering/cross tabs, online chats, co-creation, statistical analysis, and mobile apps. These tools, and others, allow corporate researchers to execute a wide range of studies leveraging their communities.
- Flexibility. Companies face a dynamic environment so research needs change overnight. The flexibility of an MROC allows you to react quickly to the needs of stakeholders, as well as reach out to consumers with follow up questions.
To learn more about how online communities can help your brand, contact the My-Take team.