Why Agencies Should Embrace AI Tools for Market Research

Picture this: you're a chef cooking for 100 picky food critics. You have little time, a tight budget, and each critic wants a special meal just for them. Oh, and they all want their meals at the same time. Sound impossible? This is what market research agencies deal with every day. Just how chefs need modern tools to make great meals, researchers need AI tools for market research to meet these tough demands quickly.

AI tools for market research like Remesh are changing the game. They help agencies meet these tough demands. But how do they work? And why should agencies use them?

Common problems for market research agencies

First, time is a big issue. Agencies always feel rushed to give results faster. Clients want high-quality, complete advice and findings quickly. This need for speed often clashes with the need for deep analysis. Second, balancing depth and scale is difficult. Agencies want to give rich, quality insights along with the numbers clients expect. Old methods often make them choose between depth and scale. But clients want both.

Also, budget limitations are often a problem. Agencies need to work with small budgets while still meeting high client expectations. They're always looking for efficient solutions that don't lower quality. Plus, it's harder to get people to respond to surveys. With so much information out there, agencies need creative ways to get people's attention and gather useful insights.

Lastly, managing complex research projects is getting harder. As studies get more complicated, agencies need tools that can handle all parts efficiently, from collecting data to analyzing and reporting results. Enter: AI.

The benefits of AI tools for market research

AI tools for market research are now essential. In fact, clients expect agencies to use them.

"With Gen AI being such a buzz word, a lot of end clients have the expectation that AI adds a layer of depth, but also accuracy," highlights Scott Tremble, Senior Sales Director at Remesh. "The expectation to show up better for these agencies are just growing and growing."

AI tools for market research help agencies in many ways, particularly in enhancing qualitative research. They can collect and analyze data automatically. They can process open-ended responses, predict trends, and create real-time insights. Essentially, AI tools help agencies tackle their biggest challenges.

One big benefit is speed. With traditional focus groups, it might take weeks to analyze data. But with AI tools like Remesh, it takes hours. For instance, Remesh automatically tags open-ended responses, saving hours of manual coding. It also offers participant voting to find areas of agreement quickly. Participants simply vote on sample responses, and AI predicts how the whole group would vote. In addition to speed, these tools help balance quantity and quality. Agencies can process lots of data while still getting deep insights. This means they can give clients both broad and detailed information at the same time.

AI combines numbers with detailed feedback. This helps agencies tell clients more than what consumers think. They can explain why consumers think that way—a more holistic view of consumer behavior. Another plus is cost. AI tools for market research help agencies offer cheaper options to clients. They streamline research and cut down on the need for multiple studies which saves time and money.

It's important to note that not all AI tools for market research are the same. Some companies are just adding ChatGPT to their old products without really integrating AI. In contrast, Remesh has developed its own AI technology specifically for market research over the past ten years.

How agencies use Remesh

Now let's look at how Remesh, an AI-powered platform, helps with various market research tasks. Some key uses include testing concepts and products, testing messages and campaigns, exploratory research, and testing ads and creative ideas.

For example, Remesh lets agencies run thorough concept tests. They can gather both ratings and detailed feedback in one conversation. This helps researchers understand not only what people think, but why they think it, which is crucial for building brand equity. The platform also works well for testing new product launches or marketing messages.

"With Remesh, you can grab that numerical data and feel confident in it. But on the back end of these conversations, also dig deeper into what people are saying, unprompted," said Kyle Shuhi, Senior Sales Director at Remesh.

Remesh's AI-powered conversations are also good for open-ended research. Researchers can find unexpected insights and change their questions in real-time based on participant responses. Finally, the platform's participant voting feature uncovers hidden insights that might be overlooked in traditional research methods.

Challenges and solutions when using AI tools for market research

While AI tools for market research have clear benefits, using new technology like Remesh comes with challenges. But these challenges can be overcome. One common concern is fitting AI tools into existing work processes. Remesh addresses this with thorough support.

"I think we have a high level of satisfaction with our onboarding process," says Scott. "We provide self-paced, self-guided materials, on-platform support, and AI-driven simulations to help users get comfortable with the platform and create effective conversations."

Another big concern is data security.

"A lot of the work that we do for these agencies is obviously highly confidential," notes Kyle.

To address this, Remesh emphasizes its commitment to protecting data, setting itself apart from platforms that might use client data to improve their AI models.

Training staff on new technology can also be daunting. To make this easier, Remesh offers various ways to help agencies adapt, including guides built into the platform and AI-powered practice sessions. Managers also work closely with agencies to ensure they get the most value from the tool.

Remesh constantly improves its platform based on customer feedback. For example, we recently added an auto-segments feature to the platform. This feature automatically creates segments based on onboarding polls, making it faster and easier for researchers to set up their studies.

AI tools for employee engagement

Agencies and consulting also utilize AI tools for employee engagement. By using AI-powered solutions like Remesh, agencies and consultancies can help their clients move beyond traditional surveys to create meaningful, two-way conversations with employees.

These tools allow for large-scale, real-time interactions with employees. They can handle both open-ended and closed questions, giving workers the freedom to express their full thoughts rather than just selecting from predetermined options.

This approach helps combat survey fatigue, a common issue with traditional methods. For instance, with Remesh, employees can see how their ideas compare to their colleagues' in real time, increasing engagement and participation.

AI tools also prioritize privacy and inclusivity which are common concerns for employees. Many platforms provide anonymity, encouraging more honest feedback. Some, like Remesh, even support multiple languages, ensuring all employees can participate regardless of their native tongue. This feature is particularly valuable for agencies and consultancies working with global organizations.

But the power of AI tools for employee engagement truly shines in data analysis. These tools can rapidly process vast amounts of feedback, including open-ended responses. They can categorize comments, identify themes, and even generate easy-to-understand summaries of complex feedback. This quick turnaround allows agencies and consultancies to provide their clients with timely, actionable insights.

Similar to the market research side, AI tools for employee engagement enable agencies and consultancies to offer their clients a more dynamic, inclusive, and efficient approach to understanding their workforce.

How AI is changing the market research industry

AI is changing how market researchers work. It makes collecting and analyzing data faster. AI is also potentially more accurate. It's especially good at handling unstructured data from text and video sources.

"AI is light years beyond what we've always known as text analytics," says Lenny Murphy, Chief Advisor for Insights and Development at Greenbook.

Researchers are using AI to create things like questionnaires and reports, including employee engagement surveys. This frees up time for more strategic tasks. However, some in the industry are slow to adopt AI. They worry about data privacy and security.

These issues are being addressed, but solutions aren't universal yet. Platforms like Remesh are adapting to meet the security and compliance standards of their clients. This will hopefully encourage more people to start using AI tools for market research.

In addition to creating questionnaires and reports, AI is taking over routine tasks. This means researchers will likely focus more on interpreting data. They'll also spend more time giving strategic advice. This shift could change the skills needed in the industry.

AI is changing the role of researchers on a fundamental level. They're moving from managing projects to focusing on strategic thinking. This includes understanding the real business questions and their implications.

"I think it will change the people who are attracted to the role to be thinkers, to really have depth of information about understanding issues and then thinking on what it means to give good strategic advice going forward," said Lenny.

This shift will not only change the roles of researchers but also enhance their capabilities. With AI tools for market research, researchers can now put findings in a broader context. They can easily combine competitive intelligence, market intelligence, and historical research data. This integration leads to more comprehensive insights and actionable recommendations for clients.

Future trends

Looking ahead, AI could introduce new ways of doing research. One idea is using synthetic respondents. These are AI-generated participants that might give more detailed answers to open-ended questions. However, researchers are still testing how accurate these responses are.

AI might also change how people make buying decisions. Consumers might ask AI for advice when shopping. This could affect how companies advertise and develop products. Companies might even start advertising to AI systems.

"As people get more accustomed to interacting with AI and they want to go buy a new car, they're going to talk to AI about their new car," Gregg Archibald, Managing Partner at Gen2 Advisor, an advisory and consulting firm helping research departments, notes. "What does that mean for Ford and General Motors? Do they start to advertise to AI because that's where consumers are going to be getting more and more of their information."

Another new trend is personal digital avatars. These are like AI-powered digital versions of real people. They could make collecting data much easier. In fact, for some types of research, researchers might talk to these digital avatars instead of real people. The avatars could automatically record and share information about what a person does, likes, and buys. It could make getting information faster and maybe more accurate.

Research agencies need to embrace these new technologies to stay competitive. The most successful ones will use AI to provide faster and more complete insights. They'll also need strong skills in interpreting and applying these insights. There's hope that AI could improve research effectiveness, not just efficiency. Agencies that can use this potential will have a big advantage in the market.

The competitive advantage of using AI tools for market research

Market research is always changing. However, agencies that use AI tools like Remesh will have a competitive advantage. These tools help solve real problems like lack of time and money while providing both broad and deep insights. This allows agencies to deliver better, faster results.

It's worth emphasizing that Remesh offers AI-powered insights built on a decade of experience. This long-term commitment positions Remesh as a partner in the industry's growth, not just followers riding a trend.

As market research evolves, agencies using AI will be ready for the future, delivering faster and better insights. This helps them stay ahead in a rapidly changing field. Remember our chef analogy? In the end, AI tools are like having a whole new set of cooking ware. They help agencies cook up great insights, providing their picky clients exactly what they want, when they want it. In our book, that's a winning recipe.

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