The new era: Unlocking growth for research agencies
It’s a new era for market research agencies. The foundation of research is shifting, with new technologies and insights rewriting the playbook and challenging agencies to redefine their approach. The tools and strategies that once defined success are being reshaped by these innovations, and the challenge now is to harness them at every possible avenue to drive growth and redefine what’s possible.
Unlocking your agency’s true potential means embracing breakthrough technologies and innovative strategies. Whether it’s weaving emotional insights into your research, harnessing the power of artificial intelligence, or refining client partnerships, the journey to success is packed with possibilities.
So, are you ready to transform your agency’s potential into tangible success? Let’s explore six key considerations for agencies to keep an eye on, and how they’ll help you stay ahead and make the most of the future.
1. Embracing emotional insights
As behavioral science and neuroscience evolve, they’ve revealed that our decisions are deeply influenced by non-conscious motivations—those subtle, often unspoken forces that shape our preferences and behaviors.
For agencies, this growing recognition of emotion’s role offers a powerful opportunity to redefine their value proposition. Weaving emotional insights into your research practices enables you to uncover deeper, more nuanced understandings of consumer behavior. It’s no longer just about what people say—they might not even be fully aware of their own emotions. Instead, it’s about tapping into these underlying emotional currents to reveal what truly drives their actions.
How can integrating emotional and behavioral science redefine your agency’s value proposition?
Imagine your agency not just delivering data, but offering insights that resonate on a human level. Embedding emotional and behavioral science into your research is how you position yourself as a premium consultant, providing richer, more impactful recommendations that go beyond the surface level.
Exploring this approach could transform how you engage with clients, demonstrating a deeper understanding of their customers and offering more strategic guidance. It’s about turning raw data into actionable, emotionally resonant insights that drive meaningful change.
2. The power of behavioral insights
Research has grown far beyond traditional survey methods and direct questioning. While surveys and focus groups have long been staples for gathering data, they come with limitations—people may not always respond, their recollections can be faulty, and biases often creep in.
Enter behavioral data: a game-changer that offers a richer, more accurate picture of consumer behavior. Behavioral data encompasses everything from CRM and e-commerce records to in-store video observations and social media analytics. It captures real-time actions and interactions, providing a window into how people actually behave rather than just what they say. This type of data helps bridge the gap between stated intentions and actual behaviors, revealing insights that traditional methods might miss.
Imagine integrating this wealth of behavioral data with your current research practices. What could your agency uncover by combining behavioral data with traditional research?
Picture a scenario where your agency isn’t just analyzing survey responses but also exploring video footage of in-store behavior or tracking user interactions on a website. This fusion of data sources can lead to a more holistic understanding of consumer actions and preferences, offering deeper insights that drive more effective strategies.
Learning to leverage and incorporate behavioral data will enhance the accuracy and relevance of your findings, making your recommendations not just data-driven but grounded in actual consumer behavior. This approach can set your agency apart, positioning you as a leader in providing actionable, nuanced insights that truly reflect the dynamics of the marketplace.
3. Maximizing artificial intelligence
Artificial intelligence is no longer just a futuristic concept—it’s a transformative force reshaping the research landscape. From automating mundane tasks to uncovering patterns that were previously invisible, AI’s capabilities are driving significant advancements in how research is conducted and applied.
AI technologies can process vast amounts of data at unprecedented speeds, uncovering trends and insights that might elude human analysts. Machine learning algorithms can identify patterns in consumer behavior, predict future trends, and even generate actionable recommendations. Additionally, natural language processing (NLP) tools are revolutionizing the way we analyze qualitative data, enabling deeper sentiment analysis and more nuanced understanding of consumer feedback.
For agencies, the potential applications of AI are vast. It could mean incorporating AI-driven analytics to refine segmentation strategies, enhancing predictive models with machine learning, or using automated tools to streamline data collection and reporting. AI can also personalize client interactions by providing tailored insights and recommendations based on real-time data.
What AI-driven innovations could your agency explore to stay ahead of the curve?
Consider the possibilities: automating routine data analysis tasks, deploying AI-powered chatbots for client interactions, or leveraging advanced algorithms to predict market shifts with greater accuracy. Embracing AI is mission-critical for your agency to enhance efficiency, uncover deeper insights, and offer cutting-edge solutions that set you apart in a competitive market.
4. Developing human experience (HX) capabilities
As the research spotlight shifts towards experience management, now often termed Human Experience (HX), we’re reminded of the importance of understanding and enhancing the entire experience, beyond mere customer interactions. We must include every touchpoint and emotion that shapes how people perceive brands and services.
For research agencies, embracing HX capabilities means expanding your focus from traditional metrics to a holistic view of human interactions. It’s about integrating data from various sources to create a comprehensive understanding of how experiences influence behavior and decision-making.
How can expanding into Human Experience capabilities drive growth for your agency?
For starters, by developing HX capabilities, your agency can offer a more nuanced and comprehensive service to clients. Instead of just analyzing customer feedback or transaction data, you can provide insights into the full spectrum of human interactions and emotions. This approach allows you to uncover deeper connections and patterns, offering clients actionable strategies that enhance their overall customer experience.
Expanding into HX can set your agency apart by positioning you as a leader in understanding the full human context. This not only drives growth but also deepens client relationships and opens up new avenues for strategic guidance. It’s about transforming how you deliver insights, making your services more valuable and relevant in an increasingly experience-driven market.
5. Crafting compelling narratives
It’s a data-driven world, and simply presenting numbers and charts is no longer enough. The art of storytelling and data visualization has become crucial for turning insights into impactful actions. It’s not just about reporting findings; it’s about making those findings resonate and inspire.
Effective storytelling transforms raw data into engaging narratives that captivate and persuade. A compelling story weaves together facts and context, helping your audience see the bigger picture and understand the significance of your findings. Good data visualization further enhances this by presenting information in a way that’s intuitive and memorable, making complex data accessible and actionable.
So, are your research findings engaging enough to inspire action? Consider how your agency currently communicates its insights. Are you merely delivering data, or are you crafting narratives that drive change?
6. Choosing the right technology partners
Choosing the right technology partners can be a game-changer for your agency. With an ever-expanding sea of software solutions, selecting tools that align with your goals can significantly impact your success. But what should you look for in a technology partner to ensure they meet your agency’s unique needs?
It starts with finding partners who offer comprehensive features that support the diverse and evolving demands of modern research. As the boundaries between different types of research and customer insights blur, it’s crucial to choose technology that can handle a range of functionalities, from quantitative data analysis to qualitative insights. This flexibility allows you to integrate various aspects of research seamlessly and create more cohesive strategies.
Equally important is the ability to integrate with other tools. No single platform can cover all your needs, so technology that plays well with others can enhance your existing workflows and streamline processes. Look for partners that offer open integrations, allowing you to connect with your current systems and adapt to new technologies as they arise.
Usability also plays a critical role. Even the most advanced technology is only as good as how easily it can be used. Opt for solutions that prioritize a smooth user experience, with intuitive design and robust support. Tools that are easy to onboard and operate will help ensure your team can leverage their full potential without unnecessary frustration.
Customization and adaptability are also vital. While standard features are necessary, the ability to tailor solutions to your specific needs or white-label products for your brand can set you apart. Choose technology partners who offer flexibility without compromising on quality or requiring costly custom development.
Finally, consider the level of expertise and support available. The best technology partners go beyond just providing a product—they offer ongoing support and expertise to help you maximize their tools. Whether it’s through dedicated customer success teams, specialized training, or project management assistance, having access to knowledgeable support can make a significant difference in your success.
Choosing the right technology partners involves more than just picking a tool—it’s about finding collaborators who can help you navigate the complex landscape of modern research. What criteria should you use to ensure that your technology choices align with your agency’s strategic goals and drive growth?
Bringing it all together in a new era and the next level for your agency
In market research, change is the only constant. We understand the challenges you face—navigating new technologies, adapting strategies, and maintaining your agency’s edge requires more than just keeping up; it demands leading the way.
In our latest whitepaper, The new era for market research agencies, we guide you through this journey with insights into the pivotal trends and strategies that can set you apart. You’ll discover how to integrate emotional and behavioral science, leverage AI-driven insights, and embrace Human Experience (HX) capabilities to unlock new growth opportunities. From practical advice on crafting compelling narratives to a deeper dive into choosing the right technology partners, it’s your roadmap to not just surviving but thriving in the new era of market research.
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