Market research leagues 2011
20 Sep 2011 | by Kim Benjamin
Behavioural economics is changing the way that market research agencies do business, with more UK brands embracing the technique as they attempt to influence consumers.
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Brands are increasing their investment in sponsorship while weighing up whether to back niche events or spread their budget across multiple types of entertainment, writes Kim Benjamin.
Behavioural economics is changing the way that market research agencies do business, with more UK brands embracing the technique as they attempt to influence consumers.
With digital work now accounting for more than half of many agencies' business, the direct marketing and sales promotion industries have reached a turning point.
Despite disappointing performances and scandals on and off the pitch, sports sponsorship remains a key platform for brands.
With the recession on the wane, the industry is looking forward to a period of renewed growth. However, plenty of pitfalls remain in the struggle for big wins.
Specialist agencies have had to adapt as cash-strapped clients demand work that looks beyond on-shelf standout to the total brand experience.
Customer publishers took a hit last year as clients reined in their budgets. Yet the outlook is positive, with agencies reporting more pitch activity and a willingness to innovate.
While other disciplines struggle in the tough economy, digital agencies are reaping the rewards as marketers look to make the most of the platform's budget-friendly attributes.
The discipline is back on the rise after taking some tough hits from the media in the recession. Brands are looking forward to the London 2012 Olympics, as well as several other major events.
The industry appears resilient, but a deeper look shows that research companies face some unexpected challenges, and must adapt or fail.