Technology Drives Market Research and Intelligence
This week was an exciting week at MMRI Research & Radar as we combined both websites, making it much easier for our customers to navigate between our market research services, MMRI research, & our unique social listening software, the MMRI Radar.
Simplicity and Trust at our core:
There are clearly benefits to separating out products and services into different sites for some companies but we have always found the reasoning behind how we combine research and technology a bit tricky to bring across to our research audience, this was the key driver in deciding to combine the two websites!
So how did we go from being a traditional market research agency to a research and technology business?
With the phenomenal rise in smartphone ownership, we didn’t need our 30 years of market research background to know things are changing – and rapidly too. Smartphones have put an array of communication tools directly in the hands and thoughts of consumers.
We could see there was value not just in ‘monitoring’ online commentary and tracking key metrics but conducting in-depth content analysis of commentary, pulling out themes and sentiment to answer pivotal research questions, and to provide insights for our numerous clients. As a group of highly experienced researchers, we developed a coding process to interrogate online data & aggregate findings from multiple countries to create an insightful reporting mechanism and tool.
To achieve this new approach for our clients historically we bought the data from well-known data collection providers, but this was not without challenges. Moving into this new technological world proved difficult at first – many of us had never heard of a Boolean query let alone the process of creating one! This was quickly followed by fear of what to do with the sheer volumes of data we collected, as it far outweighed what we actually needed or could utilise. Finally came the financial concerns of the cost of data, over-consuming our allowance and the need to commit to an annual licence.
To successfully overcome these challenges coupled with our desire to own and access the data we needed for each project, we partnered with (and subsequently acquired) a technology business which had already seen great success in building a social media marketing tool. Bingo, our multi-faceted problems were cured almost overnight!
How difficult could it be to inverse the process of pushing out on social media and instead pulling it in? Software is the tangible driver of success!
Our CTO had previously worked with some of the world’s largest technology organisations such as Skype, Microsoft and eBay and as an entrepreneur in the tech space since 2008 he had a track record of success in growing technology-led business concepts. So we knew we were always in safe hands when we asked him to develop our social listening software. Admittedly it wasn’t all plain sailing. It took a little while, with a few of changes of direction along the way, some planned, some unpredicted, but we now use our own in-house technology, MMRI Radar, to conduct our own research.
On top of which, we also have an extensive client base growing, under the product arm of the MMRI Radar, who are now conducting their own market research & intelligence, client tracking and media monitoring. Our technical experience combined with social listening research has grown from strength to strength with every project undertaken!
Where are we today?
Since 2014 our journey has taken us from looking at social media marketing and monitoring through to the benefits of deep dive data interrogation. This has enabled us to extend our clients base from healthcare to a broader suite in automotive, finance and retail fields.
Our new ‘combined’ website now shares the services of MMRI Research and the product specs of the MMRI Radar, which we are sure you will find useful.
If you want to pick up the phone and talk to the enthusiastic and experienced MMRI research team call us on 0800 023 6268, or the Radar customer services team on 0800 023 6271 to discuss creating your own account. You will be surprised how easy it is to start using MMRI Radar yourself and how beneficial it will be to your business.
If visuals are more thought-provoking for you than words, you can subscribe or just view videos on our new YouTube account. To get you started here is a link to a 1-minute introduction to both MMRI Research and the Radar: https://goo.gl/mqKAUX