When introducing Wakoopa I usually start out by pointing out all the things we don't do.
- not a panel company.
- not a research company.
We are a technology company in the field of market research.
- We do not have survey technology.
- We do not have a community platform.
- We do not have eye tracking software.
There is actually only one bit of technology we have: passive metering technology.
And in this quirky, tricky field there is still a few things that we don't do. For instance:
- We do not support audio listening and fingerprinting.
- We do not support social media listening.
- We do not have our own cookie-based metering solution.
However, for the things we do support we are actually the best. By far.
- We have the best user experience for the research participant.
- We have the best, most up-to-date data collection capability.
- We have the best, most advanced data processing capability.
All this has to do with focus – having a clear understanding of the value you want to deliver to your clients and organizing your business (product, technology, sales) to support this. The complexity of technological change and progress (e.g. wildly diverse, rapidly changing ecosystem of operating systems, browsers, and devices, plus ever increasing expectations of user experience) requires this.
Product development should not only be considered as an (commercial) opportunity, but also as an opportunity cost. Time spent developing a new product or feature also means time not spent further developing and optimizing your current features to ensure support of a new OS release, to enhance data processing, or to improve user experience.
We are a 40-person company, out of which 75% is dedicated to technology and our product, and all of them equally gifted. Of course we are sometimes tempted to push out a quick and dirty feature in order to pursue a sales opportunity. However, if you have ever done this (we have!), you see that this tends to result in unhappy clients and troublesome projects. It might even put you in a position that you are forced to maintain a feature you were eager to sell, but that is actually limiting development to strengthen your core and meeting the high requirements on user experience and data quality.
In today's economy we should all benefit from the great technology already out there, that is being created by other companies that have the same focus on quality and technology. By using standards we are creating open and flexible systems with which we can, together, create unprecedented solutions in terms of capability, investment and research experience for all parties involved (research participants, researchers, panel providers and end clients).
The biggest threat to technology companies, also in market research, is not the lack of opportunities, but the abundance of them and the challenge to choose.