Research and Results 2013 - Worth Attending?
I visited Research and Results Trade Fair in Munich last week (http://bit.ly/S24lxD) - Europe's largest (I would think) Market Research trade fair, held annually in Autumn in Bavaria's capital city. It's an easy visit for me - no travel involved, free entry, and access to numerous seminars from leading Research providers.
For many, the investment to attend is considerable. If you have a booth, the total costs for a medium size stand - including travel, overnight - could well be in the region of Euro 30 - 40.000, plus seminar costs, should you wish to give a paper. Probably a sizeable percentage of a medium sized Agency's annual Marketing Budget.
Is the investment worth it, whether clientside or Agency? Is it worth attending? I have no Agency ROI figures, but from a Client perspective I would say: yes, definitely. Here's some thoughts I took away from the Event.
1. A Huge Opportunty to Meet and Learn
Attending Research and Results 2013 was for me definitely valuable. Everyone is there, it seems - and absentees such as Nielsen were notable thereby. I conducted many extremely interesting conversations with suppliers I had only read about. There is no algorithm to replace pressing the flesh, no better way for a first-stage and informal evaluation of potential suppliers through impressions, semi-structured conversations that haven't been prepared for days in advance.
2. Branding and Selling Skills are Improving
In stark contrast to my first visit 4 years ago, I was actively and professionally approached by numerous companies not known to me, enquiring about my interest, potential needs. Some of the larger players looked like they had been trained by Consultancies in how to approach prospective Clients. Some of the smaller companies still showed their nerves, but still - pro-active. Nobody could be accused of dressing badly - it looks like we have smartened up our act. Would I be a more confident - in theory - of allowing these people Senior Management debrief exposure? Probably. Is there still way to go? Definitely.
3. Big Agencies are Powering Ahead with Innovation
I was impressed by how energetically the largest players - notably Gfk and TNS - seemed to be approaching innovation, and that this seems to be now better aligned with client needs than previously. I learned of an offering to help Clients with data synthesis, for example - and no, it wasn't an all-singing, all-dancing software promise, it was actually based on human intelligence.
4. Online Panel Providers are Shifting Gear
Research Now seems to me to be the leading sponsor of many MR events in Europe - no exception here. The difference I sensed last week amongst many Panel providers was their approach to selling their services. They seem to be actively engaging with end-Clients such as myself, boldly offering different and potentially higher value services rather than just panel access. Services that compete with Full Service Agencies. Are these potential disruptors clawing their way up the value chain, as described by the renowned Harvard Professor, Clayton Christensen? We will see.
5. Is Quality raising its head again as an Issue?
One conversation surprised me at the Event. Someone who knows the online Panel world well from the inside suggested that as much as 30% of all digital panel respondents were from China. No names mentioned, of course - but I am curious to read what research will be published, what light shone on this rather dark corner of research in the coming months. I don't much like cobwebs.
6. Great to see lots of Students
There were lots of students at the Fair - which is terrific news. What better way to allow people considering careers in Marketing, Sales, Finance, to get a sense of the new world of energised Market Research is for them. Whoever is responsible for this outreach drive - if that is what it was - take a bow.
Anecdotally, I saw one unexpected benefit of having students present. Attempting to grab a smoothie from a leading stall, but blocked by the crowds, I asked two young attractive people sitting at the bar if they could attract the barman's attention. Waiting, I asked who they worked for, assuming this would be the Agency in question. They were students. I smiled - how fantastic, having young, attractive people at your booth and effectively having them become part of your image.
7. The Fair is increasingly International
There were 140 exhibitors from 16 countries, according to the literature published. An English language Event guide was provided, simultaneous German/English translation was offered for the seminars. Green Book and Quirks were media partners - both with a traditionally strong North American bias. Quirks was represented with a booth - with Dan Quirk there himself. Having so many people from different backgrounds, markets, cultures is enriching - sure, all business is local, but the exchange of ideas and services across borders can be extremely impactful.
Overall, I had a sense of an industry re-energised. The focus seemed less on "methodology advancement" than on addressing client needs. One of the best conversations I had was with an Agency that listened more than talked, and confessed to be methodologically agnostic - a refreshing perspective in a context where "new, better, exciting" often turns out to be an incremental improvement, a minor line extension to fill the space rather than a need.
Would I go again? Definitely.
Curious, as ever, as to others' views.