We have big news to share today. We have just acquired Qriously, a SaaS market research company that offers the fastest, most accurate research available through a unique mobile survey system.

This technology provides high quality data on consumer opinions about absolutely anything, in real-time. Combined with our existing archive of social data and online consumer conversations, we think this will change the way brands do market research.

How this acquisition aligns with our vision

At Brandwatch, our vision is to bring structure and meaning to the voices of billions of people so that our customers can make decisions that truly connect with consumer needs.

In 2018, Brandwatch merged with Crimson Hexagon with a joint mission to build a new kind of intelligence that leverages AI and machine learning technologies to deliver business insights from many and diverse sources of information – from social media data, to online public data, to enterprise-held sources.

Today, we are adding a key component to our product portfolio that will help us expand on our vision by adding quantitative, solicited market research to the data sets our customers have at their fingertips. We’ve spent years helping brands figure out what all those billions of tweets, posts and comments might tell them about what the public thinks of their brand. Now we’re giving them the chance to go out and directly ask their target customers what they think, and see the results almost immediately. They can then compare these customer insights side by side and get a well-rounded perspective.

Market research catches up with the digital era

The traditional market research industry is centered on panels: groups of respondents who have agreed to participate in surveys or focus groups, either online, by telephone, or in person. While panels were once powerful tools, they can be hindered by their limitations:

• The sample is often not representative. Because respondents are often financially incentivized, there are certain demographics who repeatedly answer surveys. That means data is increasingly poor, and so are the insights drawn from them.
• Panel research is slow. Most panels are conducted through email or by telephone. Studies can take weeks or months to complete.
• Panel sizes are small. They rarely have the geographical coverage required for accurate sampling.

Qriously’s research platform addresses these challenges in an elegant way.