As part of the NewMR/GreenBook Social Media project Bakamo Social have produced an analysis that looks at the differences between the market research industry and two other comparable industries, Management Consultants and Advertising. Click on the image below to read the report.
The key finding from the Bakamo analysis is that Market Research is highly interconnected, but insufficiently connected externally. The analysis highlights the tendency for market researchers to do things, particularly on Twitter, that are of interest to other market researchers, but of little interest to the wider business community.
One of the key observations in the report is “Convincing each other that we are brilliant might be pleasurable, but certainly it’s not good for the future of our business – this seems to come naturally to us researchers. But we must pierce our bubble and start engaging with the real world: we need to heal ourselves. ” Of course, many of you will say that you knew that already, but the benefit of the Bakamo study is that it is based on evidence and is able to provide an estimate of the scale of the difference between MR and the way the other two sectors connect externally.
The analysis by Bakamo looked at three leading companies from each of the three business sectors and focused on Twitter. As well as making observations about challenges that the market research industry faces the report makes a number of recommendations. One of these is to produce more material that is of a wider interest, something we at NewMR have already decided to adopt!
The Social Media Collaboration Project
Read other elements of the project by clicking on the links below:
Once all of the reports are published Lenny Murphy and Ray Poynter will create an overarching review of the project, looking at the many ways social media can be used to enhance research.