#IMRD2020
We are living in times of unprecedented disruption. There is not a country or economy that has not been affected by the COVID-19 pandemic. For many researchers it has meant weeks of adjusting to new methodologies and techniques and trying to prepare for an uncertain future. For this year’s International Market Research Day, ESOMAR has been exploring the challenges faced by the industry during this time, but also highlighting how data and insight have never been more essential in understanding the world around us and moving forward.
Crispin, Alex and I, your UK ESOMAR representatives have compiled a few thoughts around how COVID is affecting our industry, our habits and behaviours and share a few thoughts on what is to come.
Crispin Beale
The UK Market
The UK has seen a significant fall in spend on research with all face to face work and traditional qualitative work having stopped almost overnight. Many agencies have furloughed (temporarily laid off employees who will then be partly paid by the UK Government) large numbers of staff. Indeed, some smaller/medium sized agencies have furloughed more than half of their staff. It is a divided industry though, some sectors are busier – most notably certain areas of government and academia and, in general, digital agencies with their own panels and online data collection are faring significantly better with several indicating significant growth.
The future
It is probable that as we come out of the pandemic, we will see the failure of many smaller/medium sized agencies with others downsized or changed beyond recognition. We will also see an acceleration of the current, much needed, market consolidation as well as consolidation up and down the value chain (in addition to the current trend of mergers of agencies in the same or adjacent spaces).
One thing is certain, in times of uncertainty, EVIDENCE MATTERS, so, the need for insights remains paramount. What will change is where the people are who are collecting and analysing the evidence. Many individuals will continue to work remotely and agencies will make savings by reducing property costs (this is already happening) – this flexibility has the potential to enhance work:life balance and has a far smaller carbon footprint (giving much needed environmental benefits). Whilst less travel is better for individual’s health, it is important that as an industry we focus on mental health too … whilst many individuals thrive working remotely, for some, it can lead to a feeling of isolation. It is essential that as an industry we ensure that adequate support networks are available. The heighted levels of community spirit and compassion that we have seen must be leveraged for the long-term good of our industry and the planet.
Alex Wheatley
Covid-19 has obviously caused seismic shifts in the context of our research and our clients’ businesses. What has been amazing has been seeing an acceleration of innovation while working in a time of unprecedented challenges.
At Kantar, and across the industry, I have seen businesses not only radically adapt their ways of working globally to meet the demands of social distancing and isolation required to curb the pandemic, but go future in generating a vast body of thought leadership and methodological adaptation to keep pace of the changes and the pandemic.
From moving face to face fieldwork to telephone, to hosting client webinars for thousands of participants, my friends and colleagues have made the most of adversity to help guide and explain in these troubling times. Showing a resilience in the industry we can all take pride in.
My team is Digital and Data focused and we have found ourselves busier than we have ever been. As traditional data methods have been harder to implement, we are providing online solutions to solve challenges. The question will be if this growth represents a solution to a temporary problem or an accelerator of change that was always coming.
Patricia Dominguez
It is an understatement to say that this pandemic has pulled the rug under everyone’s feet, quite abruptly, but with crises comes resilience. We may have been forced to change habits or adapt quicker to certain ways of life, but I am confident we can find the opportunities from the challenges and come out of this one stronger and wiser. There are three key things I have noticed that have been true since the beginning and I believe will continue to be:
1/ The industry has shown a tremendous sense of community: I already knew people in our profession were wonderful, but I have seen a level of togetherness and camaraderie that I only speculated existed, within and between organisations. I am proud and humbled to be in the Insights / Market Research profession
2/ Even though we try, we cannot predict the future: On the more commercial side, nobody can foresee what will happen after we are out of this, whatever form that takes. As consumers, we have been forced to change our behaviours in an unprecedented way and we do not really know yet what will be temporary and what will stick to become “normal”
3/ That means that understanding consumers, and more so being there for them in these difficult times, is now more important than ever to succeed as a brand: In times when budget cuts are the norm and many of us are spending our days thinking about putting out COVID fires, it is also important to keep an eye on longer-term strategy. That may mean coming up with a plan that will be a 180 degree turn to the plan you were rolling out at the beginning of 2020 and the need to adapt quickly will be key.
We hope this article was useful and inspired you. We are curious to hear what you think and what you have learn yourself during these trying times. Do get in touch!
Wishing you, your family, colleagues and loved ones well,
Patricia, Crispin and Alex
Are you a data, research and insights professional or interested in what the insights makers produce? Then join us and participate in the various activities foreseen during this community-driven campaign. For more details please visit the official International Market Research Day 2020 page.
