Rival Technologies and Reach3 Insights achieved remarkable 30%+ growth in H2 2023 amid economic challenges. Pioneering mobile-first conversational research, they've garnered industry recognition, ranking #6 and #8 on the 2023 GRIT Report. Their success stems from AI-driven innovation, expanding clientele, and endorsements from major brands like Carnival Corporation and John Deere.
VANCOUVER, BC, Jan. 15, 2024 /PRNewswire-PRWeb/ -- Rival Technologies and Reach3 Insights, pioneers of mobile-first conversational research methods and technology, are riding a wave of momentum with over 30% growth in the second half of 2023. Their success is spurred by AI-augmented product innovation and a growing roster of customers embracing mobile-first, conversational research and Insight Community 2.0 in CPG, Retail, Tech, Media and Entertainment along with expansion into Financial Services and Healthcare.
Amidst significant macro-economic turbulence marked by a pullback in the tech sector, inflation and enduring challenges posed by the global pandemic, Rival Tech and Reach3 have not only weathered the storm but have strategically adapted to the changing landscape. Quick and effective adjustments have proven instrumental to their success, leading to strong client growth and profitability. Customers like Carnival Corporation and John Deere are testament to Reach3 and Rival's ability to reach new audiences on their mobile devices and deliver faster ROI and speed to insights with solutions that combine conversational research and AI capabilities.
Global brands embracing conversational research
The research industry is evolving towards more organic, immersive, and in-the-moment approaches, according to Matt Kleinschmit, Founder and CEO of Reach3.
"Reach3 and Rival introduced the concept of Conversational Research to the market," says Kleinschmit. "Global brands like McCormick and John Deere are abandoning their legacy research platforms and embracing conversational research because of the immediate value and effectiveness it delivers."
According to Andrew Reid, CEO and Founder of Rival Technologies, Conversational Research has become a category of its own. "When I founded Vision Critical (now Alida), we created the insight community category and transformed the industry," Reid notes. "It's incredibly exciting to see that happening again with Conversational Research. Our approach has enabled some of the biggest brands in the world to completely re-imagine the parameters of an effective research engagement."
Industrywide recognition of innovation and effectiveness
The leadership position of both Rival Tech and Reach3 is further validated by elevated rankings on the 2023 Greenbook Research Industry Trends (GRIT) Report. Produced by Greenbook, the GRIT Report Rankings are the benchmark for the research industry's most innovative and impactful companies. On the GRIT Top 25 Most Innovative Full-Service Research Suppliers list, Reach3 ranked #8; up from #9 last year. On the GRIT Top 25 Most Innovative Technology Suppliers list, Rival Technologies ranked #6; up from #10 last year.
This ascent underscores the commitment of both companies to championing Conversational Research, embracing innovation and delivering industry leading solutions like Insight Community 2.0 and the Brand Experience Predictor (BXP).
Product innovation and AI-augmented capabilities
A laser focus on product innovation and aimed at optimizing the end-to-end research experience with the thoughtful application of AI has also bolstered momentum. In recent months, Rival unveiled new AI-augmented authoring and analysis capabilities that facilitate faster time-to-insights. The company has also introduced new reporting capabilities that amplify the ability of researchers to tell data-driven stories with more agility and creativity. These ground-breaking developments have been met with widespread acclaim from industry experts and customers like Dell Technologies, Oura Ring, PepsiCo, Coca-Cola, and more.
Irene Jofre Global Director Consumer Insights, Casino Operations at Carnival Corporation, says, "We have access to millions of data points at Carnival. While valuable, they lack qualitative feedback. By augmenting that quant data with deep, rich, contextual feedback from our insight community, we can produce actionable insights our leadership can use to make truly informed, data-backed decisions."
About Rival and Reach3
Rival Technologies and Reach3 Insights are the pioneers in conversational research and the leading authority on insight communities. Rival's mobile-first, conversational platform helps transform conventional surveys into personalized research experiences that emulate the way people communicate today. Reach3 is an award-winning full-service consulting firm that uses immersive, in-the-moment research designs and dynamic digital storytelling to deliver deep experiential insights. Amplified by AI, Rival and Reach3's conversational research approach delivers higher response rates, deeper engagement, and faster time-to-insights. To learn why brands like Coca-Cola, Dell Technologies, Kimberly-Clark, and Warner Bros. have made the switch to conversational, please visit rivaltech.com or reach3insights.com.
Paula Catoira, VP Marketing
SOURCE Rival Technologies