A faster, more economical approach to market research can be a game changer when the clock is ticking for brands to grow market share. View our infographic on six ways to shorten market research timelines and make faster strategic decisions.
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Project Planning: Partner with a quick-turn market research expert
Research partners with quick-turn research expertise know how to shorten research timelines without sacrificing quality. In addition to receiving market research faster, impactful consumer insights will give your team confidence to make quicker strategic decisions. Experienced research partners:
● Ask the right questions to achieve desired research outcomes
● Leverage viable existing data and market research
● Blend qualitative and quantitative research to uncover consumer insights
● Streamline the screening process and identify diverse consumer groups
● Use proven formats for stimuli, concepts and prototypes
● Create discussion guides to moderate insightful consumer conversations
● Analyze market research and present actionable consumer insights
Research Design: Build a collaborative relationship
You cannot underestimate how much time it saves to build a collaborative relationship with your research partner. Agree on research objectives, timelines and budgets up front, and be transparent about the way you want to work together:
- Set clear roles and expectations, and be honest about your pet peeves
- Discuss business priorities and challenges and share existing strategies
- Explain your organization’s learning and decision-making style
- Identify key questions your organization needs to answer to make decisions
- Share relevant existing market research to save time and reduce project costs
Discovery & Research: Involve decision makers
Listening to consumers first-hand builds empathy and understanding, and involving the right people up front saves time in the long run. Involving decision makers in the discovery and research phase:
- Ensures key questions are answered through market research rather than assumptions
- Gives everyone involved a complete understanding of your consumer, and the knowledge they need to make faster and more strategic decisions
- Speeds up the organization’s learning curve and decision making process
Analysis: Strike a balance between detail and speed
It’s always thoughtful and smart to make sure research objectives are met. However, it’s equally important to focus on the most relevant consumer insights. To strike a balance between detail and speed:
- Focus on the big picture and information that will impact the bottom line
- Anticipate and answer the key questions that will impact strategic decisions
- Avoid spending time going back and forth over minute details
Reporting: Focus on relevant consumer insights
Develop three to seven key insights about the target consumer, and focus on answering key strategic questions with facts from market research. This keeps the consumer at the core of strategic decisions and can help speed up the decision making process. Consumer insights that matter:
- Drive new ideas, thinking and behavior within your organization
- Turn consumer pain points or problems into opportunities to innovate or improve
- Say more about the consumer than about the product or service
- Are often more about the category than the brand, and explain the category driver
- Reveal more about how people feel rather than what they think, and include information about personality traits, lifestyle, behavior, habits and values that people aren’t always able to articulate
- Focus more on what is enduring and slow to change than short-lived trends
Ongoing Communication: Keep your consumer front and center
Consumer insights explain customers’ behavior, values and priorities so that decision makers can focus on opportunities that will positively impact the bottom line. Knowing your target audience and the key benefits they value is the best way to identify opportunities to innovate, grow and gain competitive advantage.
- Establish ongoing consumer insights communications
- Socialize impactful consumer insights throughout the organization to foster a customer-focused culture
- Inspire the entire organization to share innovative ideas to improve products, services and customer experiences
Quick-turn research helps organizations make faster strategic decisions
It can be tempting to make decisions based on assumptions when the clock is ticking. However, quick-turn market research gives decision makers the information they need to pivot fast, and innovate. Quantitative market research and qualitative consumer insights explain consumer behavior and identify the truly compelling and meaningful reasons why people want to buy (or don’t buy) your brand.
Want to Read More?
- Does Your Brand Align with Consumers’ Values?
- Does Your Brand’s Message Ring True with Today’s Consumer?
- 5 Tips for Successful Brand Positioning Using Quantitative Research
- Layering Multiple Research Approaches to Connect with Consumers
- How to Socialize Research Within Your Organization
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