In this new digitally evolving world, things are changing at an unprecedented pace. Evolving consumer behavior, emerging technologies and increased competition from digital disruptors have created both challenges and opportunities. Hence, companies are working hard to stay competitive in today’s disruptive era.
Recently, Google unveiled an AI Assistant called Duplex that can mimic a human voice and make calls on user’s behalf for booking appointments or restaurant reservations. With this new technology advancement, Google is hitting a great milestone in the evolution of computing.
On the other hand, Uber that is one of the leading digital disruptors in today’s time, revealed their plans for flying taxi services by 2023.
All these technology advancements and innovations are changing the business landscape. Evolving technologies such as machine learning, Artificial intelligence, Virtual reality have transformed market research industry by offering researchers the new ways to understand their audience and gather actionable insights in quickest ways. Where these advancements bring opportunities for businesses, they also pose challenges. In order to cope up with intensified competition in today’s disruptive world, brands need to innovate their market research strategies and consumer insights. As a result of it, market researchers are bound to re-invent their market research strategies and innovate insight generation to stay competitive.
Embrace a Customer-Centric Approach
Customer-centric companies are 60% more profitable compared to companies that are not focused on the customer.
Recently, we interviewed Suruchi Biyani, Senior Manager – Research & Insights, Uber who will be speaking at our upcoming MRMW conference which will be held on June 27-28 in Singapore. She said, “At Uber, we work to make the mobility option every day by delivering the best experience to our customers.” She also highlighted that understanding the customers and keeping their needs at heart to build emotional loyalty is the core to business strategies.
We also interviewed Anamika Sirohi, Vice President & Head of Marketing, Hindware who will be speaking at MRMW APAC. When asked how market researchers need to innovate and plan for future, Anamika said, “Keep consumers at the centre of it and the rest of it would follow.”
These inputs from expert market researchers show that customer experience is one of the biggest differentiators in a sea of choices for customers.
The Current State of Market Research
While discussing the current state of market research, Suruchi said, “Research is witnessing a meaningful moment where a lot of interesting methodologies, devices & principles are coming together to solve the next big problem.” According to her, research has become extremely agile in the way it absorbs and delivers, having the real impact downstream.
Market Research and Innovation
Suruchi also discussed the role of innovation in market research and insights. According to her, innovation is not a choice anymore. In fact, innovation is required at every step of market research. She believes that every important function of a company is imbibing innovation in everything they do whether in exploring and drawing insights or using those insights in operations.
What is exciting about MRMW APAC 2018?
MRMW APAC will be held on June 27-28 in Singapore where you can learn and network with the market research practitioners and technology innovators of leading brands such as Google, HP, Uber, Twitter, Lego, Universal Music Group, Phillip Morris, Nestle, Abbott, Shell, Myntra, Kellogg’s, and many more!
Find out what Suruchi and Anamika have to say about MRMW APAC 2018: