Companies can’t get the data they need to make good decisions
Nearly 9 in 10 companies are using market research to inform at least some business decisions today
Yet almost half of the people conducting that market research encounter hurdles to getting data
70% of market research professionals say they are likely to transition to more DIY tools in the next year
While 33% work for companies that have a growing market research budget, 67% have a shrinking or stable budget for their market research
Over half of respondents are expected to stretch their marketing budget to do more
More than a third of market researchers who state their companies are experiencing financial growth are employing agile market research methods at work
Nearly a third of companies who exclusively use DIY market research have all decisions at their company informed by market research data
19% of market researchers struggle with leaders who don't value their research
Methodology Pre-COVID-19 quarantine survey: This SurveyMonkey Audience survey was conducted online March 1, 2020 among a national sample of 5,000 people ages 18 or older including 1,916 people who are currently employed full or part-time and are conducting market research. Respondents for this survey were selected from the over 2 million people who take surveys on the SurveyMonkey platform each day.
Methodology for Marketers during COVID-19 survey: This survey was conducted online May 15, 2020 with a sample of 2,456 panelists from SurveyMonkey Audience and 723 panelists from Cint. The final sample included 492 respondents (305 from Cint and 187 from SurveyMonkey Audience) who met the following three criteria: 1) employed full time, business owner, or furloughed/ laid off from their job due to COVID-19, 2) has authority for or is aware of the marketing budget for their team/organization, and 3) works at one of the following seven departments: marketing, market research or insights, operations, product or product management, customer experience, executive management/C-suite, or self-employed.