Modern market research has seen four major phases of quantitative survey data collection. During that time, we saw representative samples of U.S. Hispanics emerge and take root in mainstream market research. Let’s take a closer at the evolution of quantitative research and how innovation in the field impacted the widespread use of Hispanic sample.
Why marketing researchers should use HTTPS when conducting surveys Fifty percent of Internet traffic is encrypted. That’s good news during a time of unprecedented data hacks and rising fears of the dark Web. The use of HTTPS:// has become relatively common and its use is expected to accelerate as more search engines follow Google’s lead and rank secure Web sites more highly than unsecured ones. Privacy concerns over data security among the general public – who live a large portion of their lives online – is particularly alarming for survey respondents who share their data with marketing research firms. Providing survey links that are visibility secure is a simple way to increase your survey security while giving peace of mind to respondents and potentially improving survey response rates.
Latin America is betting on its thriving entrepreneurial culture to drive innovation in the region to modernize its way of life. Like Argentina and Peru, Colombia is becoming known as a hub for tech start-ups, stimulating the economy and making it an attractive tourist destination. This steady increase in economic growth has made Colombia more appealing to multinational brands while cultivating domestic brands preparing to export goods around the world. With increased entrepreneurial and economic activity also comes a growing demand for market research. We recently launched the DigaYGane panel in Colombia to great success. Having been there for some time now, we’d like to share three key facts about online market research respondents in Colombia that we have learned so far
Mexico will be the fastest-growing e-commerce market in Latin America over the next five years. Fitch Solutions predicts average annual sales growth of 14.6% year-over-year from 2018 to 2022, driven, in part, by Mexico’s favorable consumer demographics, who are young ambitious and becoming more affluent.
ThinkNow, a technology-driven cultural insights agency and the No. 1 provider of U.S. Hispanic samples, is increasing its reach into Latin America, expanding its Spanish language panel offerings to Argentina and Colombia. This further solidifies our dominant position in LatAm markets. In an industry that is consolidating based on value, ThinkNow offers access to major U.S. and LatAm markets that are Spanish speaking. ThinkNow has been operating panels in the U.S. and Mexico for eight years.
When ThinkNow set out to build what became one of the first nationally representative Hispanic online panels in 2008, we thought a lot about what type of communication would work best with Hispanic panelists. While the concept of online research panels was mature by that time, it was a relatively new concept for Hispanic panelists, specifically first-generation U.S. Hispanics. At the time, email was the primary and usually exclusive mode of communication from the panel to the panelists. Interestingly, not much has changed over the past decade. Email is still the primary mode of communication from a panel to a panelist in 2018.
Research Live published a thought-provoking article by JD Deitch in February 2018 entitled “Programmatic 2.0: The Future of Sample.” He aptly broke down the role automation has played in the history of sample into two distinct phases: 1.0 to 2.0. Deitch shares: “Programmatic 1.0 did two things very well: it has made us quicker and more cost-effective”. […]and how, “Programmatic 2.0 can vastly improve the accuracy and reliability of our data and our operational dependability.” His point being that programmatic 1.0 helped the sample industry become more efficient in bidding and programmatic 2.0 put the respondent back at the center of the sample process, implementing algorithms that will filter good survey experiences from bad survey experiences in real-time and adjust accordingly.
Strategic acquisitions can play a big role in corporate growth strategy. And recently, we’ve seen a number of them in the market research industry, especially in the panel sector. Since GfK Knowledge Network’s acquisition of Garcia Research’s Hispanic panel, Cada Cabeza, in 2010, there have been several large companies acquiring Hispanic panels to bolster their Hispanic sample offerings. Nielsen, Research Now, and most recently, Maru/Blue’s acquisition of the Hispanic panel, Tú Cuentas, just to name a few. So, what’s driving this growing interest in Hispanic panels?
Last week, I was honored to speak at IIeX2018 NA in Atlanta. We presented a paper on a study that investigates whether there is a better way to drive television return on investment (ROI) with Hispanics at a time when television viewership is declining, and digital and social media usage is ubiquitous among Hispanics. Given lleX’s focus on innovation, our presentation, for some, may not have checked all the boxes, especially for those who only see innovation through the lens of technology. But innovation isn’t inexorably linked to technology. Innovation in the insights industry can reference methodology, sampling, survey design, business models, and much more.
The good old days of six-figure ad tracking studies are long gone. A remnant of recurring revenue for market research firms may have existed on the fringes but has since been replaced with more affordable, and at times more accurate, ad tracking solutions such as Lucid’s Proof and Connect by Cint. These new players are hell-bent on disrupting the status quo, leaving legacy models behind to catch up. So, the question is, do market research firms fit into the ad tracking ecosystem? Before we answer that question, let’s define what ad tracking is.