Could the market research industry be entering its golden age?
On this episode of Ponderings from the Perch, the Little Bird Marketing podcast, host and CEO Priscilla McKinney talks with guest, CEO and Founder of OpinionRoute, Terence McCarron, about modernizing consumer insights and delivering meaningful competitive insights. They explore the intersection of technology and human expertise in market research, focusing on helping small to mid-sized firms overcome challenges with feasibility, data quality, and disjointed processes.
McCarron shares insights on AI's role in consumer insights, noting it's not about replacing human-derived samples but creating a synthesis. He emphasizes the importance of focusing on the needs of research clients rather than complicating their world with industry jargon. "I think we're about to enter what's going to become 20 years of [the industry's] golden age, but I am absolutely bullish about the small to mid-size agency," McCarron explains. "AI is going to be this massive tool that's going to unlock the creativity [necessary], even on the quant side."
The conversation also explores how modernizing a research firm isn't just about implementing new technology – it requires establishing strong process excellence and guiding principles first. McCarron explains that the goal is to move companies from "ad hoc to organized," creating systems that enable researchers to provide better competitive insights and client consultation. They address the future of the market research industry and how, despite current concerns about data quality, companies are better positioned to address these challenges with the right approach.
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Form a company team to compete with other market research firms! Become a sponsor to help provide quality STEAM education to children who need access.
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