About a 2 min. read.
If you couldn’t make it to Dallas for the latest Quirk’s Market Research event, I am here to help you reduce the FOMO and distill two days of content into four key takeaways. Quirks Dallas covered a wide array of topics with a particular focus on integrating artificial intelligence (AI), understanding, and adapting to consumer behavior, ensuring the ethical use of data, engaging storytelling, adapting to cultural trends, and innovating research methodologies.
Like the rest of the world, market research is rapidly evolving with the integration of AI. AI tools are expediting the survey process, audience selection, and data analysis. AI’s efficiency allows researchers to derive actionable insights swiftly, providing more time to concentrate on strategy and activation. Talking amongst other researchers at the conference, it’s clear that we cannot escape the changes that AI will bring, but there is still hesitancy in its adoption.
At CMB, we recognize this value in innovation and have developed AI solutions that complement our unique human intelligence (#CMBDifference). While we appreciate technological advancement, we believe that algorithms alone cannot fully capture the subtleties of human behavior and emotion. Hence, pairing AI capabilities with the discerning expertise of our analysts is essential. Human-AI synergy enables deep dives into the data, uncovering sentiments that machines might overlook.
In the post-pandemic era, there are disruptive patterns in consumer behavior, compelling market researchers to uncover evolving trends for their respective brands at a more rapid pace. Several conference presentations underscored the agility with which research teams have adapted to decode these shifts and their impact on consumption dynamics. As we embark on 2024, it’s evident that companies are intensifying their focus on understanding human behavior in granular detail to keep pace with the change and proactively design solutions that resonate with consumers’ emerging needs and preferences. The dedication to probing deeper into the consumer’s psyche underlines the necessity of insight teams and agile tools to help them do their job better and faster. At CMB, we’ve successfully been conducting high-quality, complex, custom market research at speed for world leading brands for years. Check out CMB Accelerate.
With increasing market demands and technological advancement, market researchers are challenged with managing large amounts of data and are concerned about data scrutiny and ethical management (e.g., Synthetic respondents). In tandem, insights teams need to constantly upskill their workforce. Modern market researchers are expected to possess a multifaceted skill set in data analysis and translate insights into compelling narratives that drive action. Storytelling is one skillset that market researchers must master. It’s imperative for success, informing, inspiring, and influencing key decision-makers.
The theme of community and culture especially resonates with me, given my passion for gaming, media, and entertainment; in these sectors, the community isn’t just an audience, it is the lifeblood that nurtures brand loyalty and engagement. The conference highlighted how communal ties around a brand can evolve into loyal advocates. Building such communities requires research to grasp cultural subtleties, ensuring that the brand’s involvement is perceived as authentic rather than opportunistic. It’s about facilitating and enriching the conversation, not just selling it. Transforming consumers into fans is complex, demanding a strategic approach to cultural engagement that is fun in the context of interactive entertainment, where the community is not just an asset but a co-creator of the brand narrative.
These takeaways are just a sliver of what was presented and talked about at the conference. Want to hear more? Contact Us.