In the last post, we presented 6 trends we believe will emerge during this year in market research and the advertising industries. On the next 3 posts will be diving a little deeper into these trends, two at the time, to explain why we think they’re worth watching.
Trend #1 – Market Research Automation gains traction
Automation has been an increasing buzzword in all types of business over the last couple of years, and we believe that the application and development of automated solutions in market research will only grow from now on.
Speed, cost and efficiency are the main drivers for the adoption of automated techniques among clients and suppliers. With automation, tests can be prepared and deployed faster, harnessing essential feedback from the market in time to exert changes if need be. Brands will no longer need weeks to get results from an ad-testing study to launch a campaign. Automation, by lowering barriers, also ensures that more tests will be made before a campaign starts, as well during its lifetime, allowing for a faster feedback and learning cycle.
As the value of automation becomes clear to clients and threatens traditional research, we may see a tendency for acquisitions of automation startups by major research companies (or at least significant equity investments). In addition, the need to generate insights from the data collected through automated pipelines will be a driving force for the adoption of AI.
Trend #2 – Emergence of Blockchain-based research companies
If automation has been in focus on the last couple of years, Blockchain was the undisputed leader in terms of tech hype in 2017. A trend we don’t see slowing down this year, as more companies study ways to use blockchain-based solutions for all purposes.
Accompanying this interest, we believe that 2018 will be the year that blockchain-based market research companies will start to emerge, and the application of the technology to the industry will be more analysed.
It will not be the year that the technology reaches critical mass, but expect some early experiments with blockchain in market research.
On the next post we’ll focus on trends #3 and #4, so subscribe to our blog or follow us on our social media outlets.