By Ray Poynter
Global market research is homogenising around online research, but online costs are dropping to levels that may require new models of doing business. This is one of the findings from this year’s ESOMAR Global Prices Study.
The Prices Study – an invaluable resource
Every two years, for the last 25 years, ESOMAR conducts a Global Prices Study, to benchmark the cost of research around the world. This year’s report is based on 636 responses, from 116 countries, representing over one-third of global market research, in terms of value. In this article we highlight some of the key findings from the report.
The falling cost of research
From 2014 to 2016 the cost of research declined in most countries for most modes (i.e. online, CATI, and face-to-face). In 2018, some of those declines have been halted and even reversed – but only for CATI and face-to-face. The price of online research continues to decline in most markets.
In 2010, the global median price of a simple online U&A study (e.g. simple study with no presentation), was (US)$14,000. In 2018 the global median price is just (US)$8,000. This change reflects raw prices, it does not take inflation and currency changes into account.
The Global Prices Study publishes a key markets’ figure, based on USA, UK, Germany, France and Japan (five developed markets that account for about three-quarters of all the research spend globally). In 2010, the key markets median price for this simple online U&A project was $27,000, in 2018 the median price for these five markets is just $9,000. This enormous change has some key implications, including:
If you’re an ESOMAR member you can read the full article in MyESOMAR in the digital copy of Research World. You can also download the full report here. If you’re not a member of ESOMAR you can join and receive a free copy of Research World 6 times a year or alternatively you can sign up for a subscription of the magazine in our publications store.
By Finn Raben
Over the weekend the New York Times and Observer newspapers reported that data mining and analysis company Cambridge Analytica, a company that had been employed with considerable success by Donald Trump in the 2016 US presidential campaign, had illegally harvested 50 million Facebook profiles in order to build a powerful software program to predict and influence choices at the ballot box. The Observer reports that data was collected via a digital app on the Facebook platform where hundreds of thousands of users were paid to take a personality test and agreed to have their data collected for academic use. However, the app also collected the information of the test-takers’ Facebook friends.