The pandemic brings an opportunity for our profession. We are living a very dynamic situation, of constant changes and permanent challenges, as researchers we have to adapt and be able to respond at the same pace.
In LATAM region, clients have drastically reduced their investments, and lockdowns have paralyzed most economic activity. In some cases, tactical research has continued (ad tests and actions to face the current crisis). Few clients with strategic vision investigate to anticipate trends. The situation is affecting people’s lives and behaviors. What changes are permanent? What changes are circumstantial? What will remain after this crisis? Behavioral changes are difficult and take time; it will depend on how long this crisis lasts. However, the only way to understand them is by measuring them.
Our response to this situation involves thinking about our clients and the value proposition of our companies. It also means understanding that we are all under the same storm, but each one is on a different ship. Customers are as concerned as we are; they have also seen their sales drop and some are even afraid of losing their job. They need to improve their KPI´s and increase sales, with reduced budgets.
Our role as consultants becomes more relevant. Customers expect us to accompany them in this process. Our reading of the situation can light the way; therefore, communication has to be more direct, not general. We must be proactive and respond with agility and flexibility.
It is not just about our role as researchers. Market research was already undergoing a transformation process before the health emergency. This context accelerates the pace of change. It is not a matter of taking online all face-to-face methodologies. Digital allows greater agility, necessary to measure and monitor changes in moods and behaviors. This has been a tough learning for LATAM region. Online research penetration was very low in the region (8% according to GMR 2018), as both researchers and research buyers have been reluctant to conduct online research. Myths about the representativeness of the sample were strong and because of low labor costs in the region, the difference in costs was not a differential advantage either. Therefore, once the pandemic was declared, those who were already doing online research have continued to do so, but those who didn’t, suffered an initial paralysis and it took a little time to resume activity.
However, it is not one methodology over another, qualitative is as relevant as quantitative, online as offline, there is no methodology at risk, it is about how to combine them and know when to use each one. It is about seeking a fusion (of methodologies and tools) that can respond to the business challenges faced by companies. Multiple methods, multiple data sources. Our capacity for synthesis and analysis is what gives it value. To do this, we must expand the scope of our activity and our horizons. As we use new tools such as data analytics, which combine data from primary and secondary sources, we could find new opportunities, like working with other areas, for example, human resources, supply chain, CX, among others. The focus should be on people´s behavior as technology is only a tool and the data alone is insufficient. Our ability to interpret is necessary, as much as our accumulated knowledge in the study of people.
This COVID-19 crisis in Latin America has forced some research companies to dismiss employees, but this further complicates the situation in our industry, since they are professionals who now offer their services as freelancers at very low prices. On the other hand, companies have also been able to share experiences and collaborate with other players in the industry. The winners after this crisis will be those who have been active, responding quickly, managing and training talent in their company, as well as incorporating new tools. The current situation requires imaginative thinking, differentiation, and finding a different angle. It is the perfect time to experiment, to try new things that we have not tried before, to expand our knowledge and to learn new things.
In difficult times, we have the responsibility and the privilege to study and understand people’s behaviors and anticipate trends and changes. This responsibility doesn’t come alone, it comes with the challenge of reinventing ourselves, adopting new technologies in an intelligent way and opening spaces for collaboration and exchange in our industry. I hope that together we continue the path we already began.
