Market research is a fast-evolving industry. It can be difficult to predict which trends are present for a short while and which ones must be paid attention. However, we have always embraced this task to ensure MDRG brings the latest and best thinking to each client ask. As 2018 began, we identified a few long-lasting trends and sought to make impactful progress towards increasing our skills relating to those trends.
Below is our self-report on MDRG’s accomplishments in 2018.
MDRG always delivers top of the line reports to our clients. They are in-depth, detailed, and leave no stone unturned. We starting hearing from our clients that they would love to share the high-level insights and learnings with their broader teams, such as leadership executives, who only wanted the high points. To that end, we began vetting data visualization and dashboard software.
In early 2018, MDRG landed on the benefits that came with a pairing of Q and Displayr. We are only just tapping into the amazing visualizations we can bring to the table with these new tools and look forward to continuing to improve our reporting options into 2019.
This year, MDRG undertook the significant challenge of determining how secondary data could give our client’s a better view of their brand’s health. With the goal of offering an easily repeated study giving a 360 degree picture into the health of a brand versus competitors, our analysts dug in to find the metrics that would best inform brand health. Leveraging social media and search as part of the equation, MDRG developed the Brand Health Score. The Brand Health Score is a proprietary metric using prominence and affinity as key measures indicating brand health.
Additionally, we used secondary data when primary research could not deliver the full picture. We partnered with clients to analyze and integrate their sales, media and marketing data. This partnership brought to light additional insights into changes in the market.
As our clients are under more pressure to get new marketing initiatives in market faster, it was critical that research get faster with them. One of the techniques we used to get faster insights is an online sprint community. Perfect for getting some qualitative results quickly, these communities allow us to turn around impactful insights in days.
There were also major technological advances in market research that allowed some previously high-cost and long-lead time techniques become more readily accessible. For instance, this year we added facial coding as a standard part of our Prove-It Copy Test. Not only are we able to better understand the role of emotion in advertising, we can do it faster and less expensive than ever.
While we are thrilled with our progress in these initiatives, we realize that in order to continue to provide our clients with leading-edge research, it is critical we continue to push the envelope as a business in adopting new technology and innovative research solutions for our clients.
2019 looks to be just as successful as 2018. We challenge ourselves to integrate more video reporting, continue to give secondary data a major role in our analysis, and, above all, continue to provide insights to our clients.