29/03/2020
Should clients pause their research investments in these uncertain times?
Gosh what a week! I know most research agencies, big and small, are hurting just like we are. Yet, we have been advising several of our clients to pause and rethink their research investments.
Many agencies have been communicating that they are fully operational (we are also, having worked from home as our default for years) and that consumers are willing to participate in research more than ever as long as we switch to online (well, it’s 2020 after all... online qual and quant has been around for a long time now). Some try to demonstrate that the results now are the same as they were before... and some are advising clients to continue with their research plans so that they can be ahead when things settle.
So, why are we advising many clients to do just the opposite? Three reasons.
1- Life for consumers has changed dramatically and many will be faced with challenges and questions they didn’t even think about just last week: loss of earnings, loss of employment, food shortages or illness for some... significant disruption to daily routines for everyone. Mindsets and behaviours are far from the norm - plus what was true yesterday might not be true tomorrow anymore: so yes, we can ask consumers to reflect back on brighter days but will this still hold true in a few months when we wake up from this nightmare?
2- There is an inherent danger that businesses behaving in a 'business as usual' manner will appear insensitive or overly commercial, damaging their brands once the situation settles. Brands may well have a role to play and insights can support them... but they must build a fresh and authentic connection based on addressing the particular needs of these unusual times.
3- The reality of our clients has also changed radically: while a handful of sectors are ‘benefiting’ in terms of sales (pharmaceuticals, gaming, grocery retailers etc), in a number of industries, businesses are at zero revenue and will be for some time... expecting clients to continue the research they had planned may be rather deluded!
What should we do now?
For many clients, it will be to press pause on research plans... don’t cancel, just pause: take some time to reflect on whether consumers are in the right frame of mind to give you useful answers, how would it ‘look’ for your brand to be asking these kinds of questions, will the decision still be a priority a few months from now?
Really tune in to how people are feeling before you engage with them. This can be via ad hoc research but it doesn’t have to be. Existing online communities and sources such as the numerous Covid 19 barometers can help keep a finger on the pulse.
Synthesise and reflect on what you already know and develop hypotheses on which key insights may or may not hold true: be ready to question and test these hypotheses when business resumes.
Consider what your brand can do in the near term: how it can genuinely and authentically contribute to the huge community and societal effort we have to make... and think about what you need to uncover to make sure you are making the right decisions: maybe there are new briefs here.
First and foremost, stay safe everyone!
