In the rapidly evolving field of market research, innovative approaches are crucial to stay ahead of consumer behavior trends and meet the growing demand for accurate, real-time insights. Traditional survey methods are increasingly being supplemented with advanced technologies and novel engagement strategies to capture the attention of diverse demographics. Companies like Lightspeed Research are at the forefront of this transformation, leveraging cutting-edge solutions to enhance the efficacy and reach of their market research efforts.
Ananth Majumdar has been a pivotal figure in revolutionizing market research at Lightspeed Research, leading several key initiatives that have significantly improved panelist engagement and data collection processes. His work has addressed critical challenges in the industry, making substantial contributions that have enhanced the company’s competitive edge.
One of the initial problems Majumdar tackled was the issue of engaging new panelists. Traditionally, when new panelists joined, there was a lag before they were targeted for a survey, leading to disinterest and a lower likelihood of their return. To counter this, Majumdar spearheaded the creation of information surveys dynamically targeted to new users immediately upon registration. This approach allowed new panelists to complete a survey quickly and earn points, reinforcing their interest and increasing survey open rates when real surveys were available. This innovative engagement strategy proved to be a game-changer, significantly boosting panelist retention and participation.
Majumdar also addressed the problem of insufficient panel sizes for large diary surveys. His solution was to borrow panelists from other panel partners, thereby expanding the pool of available participants. This strategy not only allowed Lightspeed to conduct larger surveys but also facilitated reciprocal survey opportunities from other partners. Technically, this required dynamically mapping variables in the survey URLs to the partner systems, enabling seamless recognition and survey delivery. This initiative was a significant win, securing larger deals and maintaining high panelist motivation and engagement.
Recognizing the growing influence of social media around 2012-2013, Majumdar implemented a series of integrations to attract and retain younger demographics, particularly teens and young adults. He developed a Facebook app for MySurvey, allowing users to take surveys directly within the platform, and integrated social login through Gigya, simplifying the login process. These initiatives successfully increased the number of young adults in the panel, addressing one of the toughest demographic challenges.
To streamline operations and improve efficiency, Majumdar led a major tech modernization effort. With around 100 public and proprietary panels, each with its own UI and backend processes, maintaining these systems was cumbersome. Majumdar converted these applications to a service-oriented architecture with web services, enabling a unified backend to serve all panel UIs. This modernization not only improved efficiency but also accelerated the rollout of new panels and features, keeping Lightspeed at the cutting edge of market research technology. Additionally, Majumdar facilitated the company’s adaptation to the growing use of social media and mobile platforms, ensuring they remained relevant in a rapidly changing digital landscape.
One of Majumdar’s notable contributions was developing software that enabled Lightspeed’s applications to work seamlessly with panel partners. This technical advancement facilitated the sharing of panelists and profile attribute information, giving Lightspeed a competitive edge. This collaborative approach enabled the company to stay ahead by leveraging shared resources and insights, significantly enhancing their market research capabilities.
Majumdar emphasizes the challenge of engaging a generation with decreasing attention spans, influenced by the rise of social media. To address this, he advocates for shorter, more engaging survey designs and the use of big data to observe user behavior, reducing the need for direct questioning while still gathering valuable insights. He believes that integrating observational data with traditional surveys will be key for market research companies to validate and enhance their findings, ensuring they can meet the evolving needs of the industry.
Ananth Majumdar’s innovative approaches at Lightspeed Research have not only transformed how the company engages with panelists but have also set new standards in the market research industry. His work highlights the importance of continuous innovation and adaptation, ensuring that market research remains relevant and effective in an increasingly complex and dynamic environment.