DISQUS

Nic and Tim - The Forrester trends are very interesting, most specifically the significant growth in spectators and the reduction in "inactives". If we consider this as a product adoption curve, the spectators will start commenting, the commentators will create etc. Then we have the very exciting situation when everyone is conversing.

Once businesses and brands start to engage with their customers in this way - we have a new and open way of doing business.

PS. We've launched public beta of IGOpeople. www.igopeople.com

I agree Nic, and I think this extra comparison information will improve. I suppose my point is that if a brand wants to compete on price, the comparison site can clearly help emphasise their discount. For other brands, factors like great service may be more important. This is something that is probably best assessed based on the recommendation of others, rather than the comparison site or even a trusted brand. The recommendation of a peer or friend is probably the most valuable.

For commodity products, you could well be right. But we know that price is often a small part of people's purchasing decision, even for commodity stuff, so the comparison sites will thrive best amongst those who are particularly price sensitive. I'm not sure insurance is a commodity product yet, and I'd certainly like to know that a company will provide a good service if I need them - like a replacement car, quick and easy claims process etc. In this instance, review sites, or better still the recommendation from my friends, is going to be more valuable to me.

Brands have value, but the true value must be apparent to the consumer. Comparison sites will highlight the cheapest offers, but brands have opportunities to demonstrate the more intangible values, by engaging with customers, offering great service and getting their customers to become advocates for the product.

This is a topic that often gets talked about, but I think traditional research is becoming increasingly less relevant and useful, particularly with the Internet providing so many ways of really finding out what is important to consumers. Take Dell's ideastorm, where customers vote for new ideas. There are now real possibilities to involve customers in product development.

My trouble with the big quantitative research initiatives is that competitors spend the same money, using the same techniques, to sample the same type of demographic, resulting in the same outcomes, which ultimately they react to in the same way!!! So we end up with a common "greyness", with no originality or distinction.

The following video gives a nice view of the benefits of focus groups:-

http://www.youtube.com/watch?v=ku4Ugw0lQ4Q