What Do You Do When You Can’t Trust Market Research?

Frustration From Market Research

I still recall back in school when we had to sit through surveys, I would blindly fill up the questionnaires because (i) it’s not graded (for me at least) and (ii) it’s boring. I didn’t think it was important at all – I mean, who really cares and takes them seriously, right? Market analysis..phew!

Fast forward 15 years later – That person is me.

As a skeptic who questions the soundness of everything, the workings of market research is a huge conundrum. Businesses are spending huge budgets to back “data-driven” consumer insights, and governments are counting on these findings to craft and implement public policies. But what happens when the data is less accurate than we’d like it to be? Having the privilege of being both a researcher and a consumer, it’s easy to see why many can’t trust market analysis or research, even when it’s conducted by the biggest and most experienced agencies. 

Tradition rarely triumphs.   

Following the great mantra “look inward before looking outward”, let’s start with innate issues that can be regulated by research agencies. From the logistical set up, to research design, agencies have the liberty to control everything. However, the commercial nature of market research makes it challenging for agencies to prioritize sanctity of research over profitability. Case in point – Established agencies are generally slower to innovate because the success of their current business model creates a strong inertia to deviate from.

Having said that, even a foolproof methodology is only half the battle won; you’ll need genuine data to derive credible insights. That’s where most problems arise – Not from the research design, but when researchers fail to see from the lens of a consumer. 

Consumers don’t care about your surveys. 

As a consumer, there isn’t enough skin in the game to want to help businesses improve through  genuine feedback. With competitors aplenty, we can always buy from someone else who already meets our needs, without all the hassle. This is where most researchers get blindsided – Just because you care about the findings doesn’t mean the consumer does.  

One may suggest that incentives give consumers a reason to care, but when was the last time you whole-heartedly completed a survey for cash? Chances are, you rushed through it just for the reward. Aside from concerns around data integrity, the consumer of 2020 is no longer enticed by measly incentives. This is especially true for Millennials, who are now more time-sensitive and digitized than ever before – making it harder to capture their fleeting attention. While not paying attention to Millennials wouldn’t be an issue 15 years ago (since most were still in school), they are now the largest market drivers across the globe. 

Pessimists may view the points above and render market research obsolete with no redeeming factors, but in reality, all you need is a little creativity to break out of the traditional mould in deriving consumer insights. Thanks to the agility of startups and our belief in the potential of social intelligence, the research team at Circus Social has developed a methodology that not only protects the quality of consumer insights, but ensures we understand consumers who matter the most – the Millennials.

Introducing Research@CS. 

What is Research @CS?

Though the industry has been around since the 1930s, a major bulk of the evolution of the market research industry has been dominated by self-reported data. Arduous data collection processes have become a huge obstacle in turnaround, but what’s worse is when this hurdle unknowingly compromises research integrity. With the internet creating a wealth of new data sources, research no longer needs to be confined to the traditional surveys and focus group discussions. Research@CS is the millennial of market research – research redesigned with 360° integration of social listening, gamified surveys and cultural studies.

How does this work?

As with every problem in the history of mankind, there is no perfect solution to answer all your research questions. Surveys concisely relay your questions to the respondents, yet people are incentivised for ingenuity. Focus groups open your eyes to the most unexpected ideas, but how often do you get the best moderators and innovative thinkers in the same room? All methodology comes with its pros and cons, and it is our responsibility to build on the strength and eliminate the noises in each method in order to hear what the consumers really have to say. 

Why is this better?

When we start depending less on tedious self-reported questions and answers, data integrity gets fortified – which in turn assures the credibility of insights. Opinions can rarely get any more truthful than unprompted views on social media, which is why social listening is our preferred method in gathering qualitative insights. By collaborating with partners that have access to communities of Millennials, these questionnaires that come in the form of gamified surveys are no longer a chore, but a fun relief from one’s daily routine.

Thanks to the widespread internet culture, a hefty financial investment and lengthy time commitment are no longer requirements for better insights. Since consumer responses are but a click away, our average study only needs a quarter of the time of traditional research – freeing up more time for stakeholders to strategize using our insights. The cost savings are also unparalleled – a simple research which could easily cost 5-figures, can now be done at a fraction of the price.  

At the end of the day, it boils down to what businesses are trying to get out of their research. Not all organizations wish to make changes, or have the operational capacity to make changes, that are driven by consumer insights; some are solely doing market research as a SOP, while others are down and ready for action. If you are a B2C business looking for direction on decisions, you probably want to start listening to your biggest consumers – because not only do millennials purchase, they influence others to do the same. 

And if you don’t trust market research as it is, Research@CS may just be what you were looking for – the millennial of market research that celebrates the digital age, embraces the short attention span and gives you the actionable, reliable and non incentivised insights that you couldn’t get before.

To find out more about what we do at Research@CS (or maybe have a debate with me on any of the points above), feel free to reach out at jillian.chi@circussocial.com.

National Day 2020 Buzz

While the fight against COVID-19 continues in Singapore, National Day 2020 is still proceeding ahead, albeit on a much smaller scale.

Circus Social analysed conversations from netizens around Singapore to uncover the most discussed topics in relation to NDP 2020. Most Singaporeans commented on the constant sounds of fighter jets flying above their home, and also disapproved of the plan for fighter jets to fly over hospital around the region.

Circus Social's Pre-NDP 2020 Infographic

Check out our coverage of conversations pre-NDP 2019 in this blog post. For more information on how Circus Social’s 20/Twenty does analysis and real-time tracking, reach out to sales@circussocial.com.

#GE2020: Keeping Up With The Elections

Following PM Lee’s speech on June 23rd, it was announced that the 2020 General Election will be held on July 10th. From first time voters voicing their excitement to some questioning the timing of the election, this is the prime time where citizens’ voices are amplified – and social media is the centre stage where all opinions and discussions come to light.

Using 20/Twenty, we analyzed conversations from netizens in Singapore and uncovered their sentiments towards the various political parties, as well as the hot topics of discussion that have risen in the past week.

Circus Social GE2020 Infographic

Keeping track of the latest news and conversations around the General Election may be difficult, which is why Circus Social has launched SGElection Dashboard – a convenient way to keep track of all pre- and post-election conversations across social media. Discover the top conversation themes, netizens’ sentiments towards candidates, the most discussed political parties and candidates, and more – all in one dashboard.

If you’re interested in staying updated on conversations surrounding GE2020, reach out to our sales team at sales@circussocial.com.

Phase 2: What Have Singaporeans Missed The Most?

When Phase 2 was finally announced on June 15th, netizens in Singapore wasted no time in sharing the exciting news with friends and family. With rules and restrictions eased slightly, people may now partake in many of the social activities that were halted during the circuit breaker period, such as going to the gym and dining in at restaurants.

Using 20/Twenty, we uncovered what netizens in Singapore were most excited about in Phase 2. Unsurprisingly, a quarter of netizens were most excited about getting their bubble tea fix. Read more below:

Circus Social Phase 2 Infographic

For more information on how Circus Social does analysis and real-time tracking, reach out to sales@circussocial.com.

YouTube Updates & What It Means For You

YouTube Updates and What It Means For You

WHAT’S THE YOUTUBE API UPDATE ALL ABOUT?

YouTube has recently made updates to its API policies related to user privacy  user experience. Read below to get an overview of what these YouTube updates are and how we are making changes in 20/Twenty to make YouTube Analytics better for you. 

YouTube Updates & What It Means For You
Source: The Daily Rind

WHAT ARE THESE CHANGES?

  • Better Viewing experience – Guaranteed
    We are making the YouTube viewing experience better by having a High definition and magnified video player right within our platform. We are sure you will love it. 
Enhanced YouTube Embedded Player For Better Viewing Experience
Source: 9lessons.info
  • More Accessible Information On YouTube User & Data Policies
    We have  updated our Privacy Policy and also included more information on what type of YouTube data we can track and store.
  • Dedicated Analytics Section for YouTube Data
    We have a new dedicated analytics section just for YouTube data.
  • YouTube Metrics On A Per Channel Basis
    Get metrics such as likes, comments and views on a per channel basis instead of just an aggregate so you can also compare channel performance with ease.
  • Focused Insights
    Get more with YouTube Integrated analytics on 20/Twenty!
    Source: YouTube Studio

    Get the most out of your YouTube data and it’s universe with more information. This includes earlier unavailable data on subscriber gain and loss, audience demographics and viewing metrics and behaviors with 20/Twenty’s soon upcoming YouTube Analytics section. Stay tuned for it’s launch and get in touch with your Account Manager for more information.

  • Limited Access To Historic YouTube Data
    As per YouTube policies, 20/Twenty will only store YouTube data upto 30 days. Data beyond 30 days will not longer will available.

All in all, Circus Social and 20/Twenty are all geared up and ready to launch some exciting features to help you make the best of these YouTube updates, more enhanced social media analytics, and stay ahead in all your social tracking needs.

Have questions or want to learn more? Simply get in touch with us HERE or write to us at info@circussocial.com. You can also contact your Account Manager for a speedy response.

Never Have I Ever: Your Next Bingeworthy Series

WARNING: Spoilers ahead!

If you’re looking for the next TV show to binge-watch, look no further! Never Have I Ever was released on Netflix just in time for the long Labour Day weekend. The coming of age series follows the life of 15-year-old Devi Vishwakumar who has just started her Sophmore year of high school. The show references aspects of creator Mindy Kaling’s life and has been widely praised for normalizing diversity.

Using 20/Twenty, we analysed conversations from netizens in Singapore & Malaysia to see what they had to say about Never Have I Ever. Find out why netizens loved the series so much, and which were the most talked-about characters.

Circus Social - Never Have I Ever Infographic

Life In Lockdown: Video Streaming In India

Circus Social decodes the social media chatter on streaming brands in India and deciphers demographic interest across various generations and gender in the latest article on Lockdown Streaming Action – COVID times!

With the rise in days of lockdown period, the discussions around video content consumption have increased over 22% compared to the pre-COVID days. Audiences have chosen to stay glued to various historical shows, mythological stories, comedy and drama throughout the period but are all the generations consuming the same content? What are the brands doing during COVID? How are netizens reacting during COVID?  Get the full view in our latest infographic!

Read on below to get your bite of some social media analysis from our next-gen social intelligence platform, 20/Twenty.

For more information on social media insights and comprehensive topic/event tracking, contact info@circussocial.com or get in touch here.

Finding Love In Isolation: Love Is Blind

WARNING: Spoilers ahead!

With many being confined to the 4 walls of their rooms due to lockdowns and movement restrictions, people have flocked to Netflix looking for the next binge-worthy series to kill time. Among the plethora of reality dating shows out there, Love Is Blind, an experimental dating series which tests if people can actually find love without physically meeting someone, has taken social media by storm.

Using 20/Twenty, we analyzed conversations from netizens around Southeast Asia to see what they had to say about the show. Which couple was the fan favourite? Who was the most controversial contestant? Get the full scoop in our latest infographic!

Circus Social - Love Is Blind Infographic

Circus Social's COVID-19 Update - 17th Feb - 16th Mar

COVID-19 Update: Kiasu Or Kiasi?

As COVID-19 continues taking a hit on businesses, special deals have been rolled out to draw in consumers, but are locals more “kiasu” or “kiasi”?

Discover netizens’ thoughts about special deals, PM Lee’s speech, and other recent happenings in our latest COVID-19 Update from 17th Feb – 16th March 2020 with 20/Twenty, our comprehensive social listening solution.

Circus Social's COVID-19 Update - 17th Feb - 16th Mar