WHAT IS FRESH IN MARKET RESEARCH?
BUCHAREST / OCTOBER 12TH, 2022
Andrei Canda, Managing Partner – iSense Solutions
Current technology trends in market research and their potential impact for the future of insights
Moderator: Ioan Simu, General Manager – Mercury Research
Daniela Hariuc, Head of Customer Insights – Telekom
Rodica Popescu, Head of Insights – BCR
Cristina Burlacioiu, Digital Care and Data Analytics Manager – Orange Romania Communications
Victor Rotariu, Head of Strategy and Insights – GroupM
Adina Iancu (Bogdan)
Shopping behaviour in Romania has always been in the public eye of the market analysts, especially in the context of shaping comparative trends from the period before the epidemiologic crisis with the current period, marked by increased inflation, rising prices & political & social uncertainties. We have based our analysis on the parallel between two stages that consumers experience with the change of the socio-economic context: the spoilt consumer before the crisis and the cautious consumer post COVID-19 crisis and in the middle of the rising inflation crisis. The results of the trends analysis, on one side, showed that before the pandemic the consumers have focused on the brands, on the accessible luxury products and had a negative perception on promotions. On the other side, during pandemic the consumers have been significantly complaining about the surge in the prices, together with the rising inflation and the decrease of purchasing power. Therefore, they have become more cautious in spending their money and have allocated a specific budget for shopping, unlike the boom period, when they were more care-free. Even though they are more reluctant to spending and are focused on making money reserves for the worst times, their desire to experiment novelty, new products or services has developed lately, even to the detriment of their former brands’ loyalty. These results are based both on qualitative and quantitative research methods: in-depth interviews, focus groups and questionnaires. Gathering both a qualitative, ethnographic perspective from consumers and a quantitative one, representative for a large sample of the population, the results are equally balanced and non-biased. Future developments of this trends analysis will take a closer look into consumer specific adaptation strategies.
Making sustainability work well for a brand requires: 1) identifying the sustainability topics that are hot and here to stay; 2) choosing the ones fit with the brand; 3) ensuring that communication does its job, through authenticity and compelling storytelling.
With sustainability being a very broad theme, it is difficult to capture the trends through traditional approaches. Through its ability to analyse billions of data points from search and social data over many years, Digital Analytics can capture the complexity of this topic and distinguish between fads and established trends. Using AI, it identifies the current size of trends and predicts how big they will be in the future.
Another application of AI, trained on tens of thousands of ads from around the world and informed by the biggest ad pretesting database, will help us predict which sustainability ads from Romania have the maximum chances of boosting sales for their brands.
Stay tuned to see how these applications of AI can help along this path of making sustainability work for your brand. First, through insights on trends that are here to stay; then, through predicting the success of sustainability ads in Romania.
Challenge 1.0.: Understand Gen Z beyond their consumer behaviour and map the topics that are relevant in brands winning them over.
Challenge 2.0: Provide an engaging and insightful research methodology Gen Z will say “YES” to and stay in for a multi-episode experience.
Challenge 3.0.: Get (Exact) research agency, (McCann) advertising agency (bridge client), and Brand-company (final client) on the same page, willing to explore and invest in new approaches.
Our answer 4.0.: Identify brand communication opportunities not only for Gen Z, but with Gen Z. In other words: bring them on the same boat with us.
Our approach 5.0.: We used the Design Thinking mindset and framework as backbone in addressing all the above challenges and put together a multi-step research experience based on co-creation. In brief, we covered the problem understanding space with a triangulation of mini online focus-groups, omnichannel consumer diary experience managed by Gen Z insight hunters themselves and calibrated the insights with findings from Gen Z „Teens Youniverse” syndicated survey. Furthermore, we involved Gen Z prosumers in a series of ideation and co-creation workshops, finetuning the insights and stepping into the solution space with them.
This project provided all the stakeholders not only with valuable insights on Gen Z consumers, but also with even more valuable insights on how we can make the most of our interaction with consumers and leverage their input in both the problem, as well as the solution space of our market challenges.
May we have your attention please: Understanding the appeal of short videos (Tik-Tok, Instagram reels, Facebook reels, YouTube shorts)
One of the clearest emerging trends in media consumption today is represented by the proliferation of short video formats (SVF). With the advent of Tik-Tok, all major social networks now offer short videos as a form of entertainment to mitigate for the shorter attention spans of consumers in the 21st century, companies and brands need to adapt to this new media landscape.
Our presentation will focus on SVF consumption habits, exploring the underlying needs that these new media formats are satisfying, as well as on the challenges brands face in grabbing consumers’ attention. The study will discuss the opportunities presented by engaging with consumers in the latest trends by looking at how we can seamlessly integrate our comms with actual SVF users’ behaviour.
Advertisers growing enthusiasm when it comes to digital communication, seems not to be backed by the research industry with new tools of advertising pretesting. There are two main reasons for this discrepancy:
Using technology on our side, we came with an ad pretesting product that overcome the two barriers mentioned above: is so inexpensive that it worth being used for improving small budget campaigns and at the same time is superior to A/B testing methods. That is because it offers diagnose, is faster and it uses norms. In this presentation we shall talk about optimising creation for banners used in digital communication and we shall present concrete examples of right and wrong approaches.
Target: urban, 18-65 years old
Younger generations feel very much at ease with technology. The mobile phone is practically indispensable.
Even adults are becoming increasingly dependent on technology, including the elderly.
Thus, it’s unsurprisingly that many Romanians started looking for relationships on the Internet, following the global trends.
How widespread is online dating in Romania? How useful in finding a partner is the technology?
Are people feeling that online dating, on specialized or other kinds of applications and websites, is really helping them?
Is online dating trouble free, or is there a darker side of this phenomenon too?
Building multi-dimensional trend analysis
In the era of over information in social media the importance of selecting and curating the right information, we find that the truth in research data can be expanded and explored with a better understanding of the social, search and sales data. We live in a world where trends can be created and may take years before they flourish. Our role as researchers is to understand these trends and consumer views and contribute to make them visible as they happen and grow. We need more than just asking the consumer, we need to listen to what non representative consumers have to say.
We are moving towards a more transactional reality where the client can have access to all our market research tools in a “Do It Yourself” (DIY) fashion and explore themselves more and ask us for validation/sanity check or research insights adding value rather than using the researchers for basic work. The DIY is the optimal way of creating a more collaborating relation between us, the researcher and the clients.
Daniela Hariuc, Head of Customer Insights – Telekom
Rodica Popescu, Head of Insights – BCR
The current technology trends in market research and their potential impact for the future of insights. DIY platforms, automated analysis and dashboarding, insights dissemination, social media listening, AI enabled interviewing, text analysis, emotions recognition, and other topics will be discussed among panellists and with interested conference participants.
The panel will introduce new research technologies to participants who do not know them yet and will facilitate the exchange of experience between those who already use or intend to use them.
I’ll be drawing on insights from ESOMAR Congress (Toronto, September 2022), my own thinking and other thought leadership, to establish the key drivers expected to shape developments in our industry over the decade ahead.
SESSION CHAIRS PROFILES
Andrei Canda, PhD
Andrei has a solid professional experience, working in market research for over 16 years. Throughout his career, Andrei has worked both on the client side (collaborating with one of the largest retailers in the market) and in some of the largest companies specializing in market research.
He has a wide area of expertise, coordinating research projects on e-Commerce, consumer goods, retail, durable goods, media, tourism, automotive, financial services, IT&C, medical services, agribusiness, social, etc.
Andrei has a PhD in marketing, is accredited by the “Word of Mouth” Marketing Association and is a published author, writing specialist material on social networks, marketing, communication or blogging.
Alina Serbanica, PhD