Classic market research for the introduction of new products or services is a thing of the past. Yet market insights are certainly just as necessary – and especially faster – to make products successful. With an online measurement platform you can also conduct this research in a modern way. With a strong focus on fast results, continuity and more control over customer experiences.
Become your own modern research agency
The classic 'market research agency' is a thing of the past. Would these agencies have already investigated this themselves? I've been wondering this recently as I've seen more and more companies say goodbye to the long, tedious, and boring surveys they used to use in recent years. They now opt for data analysis and modern research methods via social media or chatbots. And especially short measurements via an online measurement platform (such as GrowPromoter). New technology helps to gain better market insights more quickly, but that does not happen automatically.
Speed and continuity
Speed is becoming increasingly important for market research. This allows you to continuously adjust, because it is no longer just about your product. But also more and more about the perception of this by customers and the services related to the product. Then you don't want to wait 24 hours for market research by 'the research agency'. You want to continuously see real-time results on your online dashboard.
In addition to speed, it is especially important to always ask the right smart questions at the right time. At GrowPromoter we help our customers with this with a special market research template. With fixed questions (with a dynamic questionnaire) and space for very specific questions. Because this is the only way to get really valuable information for your market research on your dashboard.
Why market research?
Good market research is crucial to (continue to) successfully market products and services. Continuing to measure offers valuable insights for further development of your product or service. And it offers opportunities to provide insight into the motives and perceptions of customers. And to adjust the customer experience.
This way, market research also prevents you from completely missing the point. Because no or bad market research can also be fatal. For example, consider Kodak. They invented the digital camera themselves, but put it completely verkeerd in de markt. And they stuck to old rolls of film, because that turnover kept increasing. Not knowing that those growth figures on the eve of their downfall stemmed from the hoarding behavior of customers who foresaw scarcity. Because they saw the impact of the digital camera coming.
Make intended customer experiences concrete
Market research is also becoming increasingly important to be able to work purposefully on your customer experiences. The focus is increasingly shifting from 'customer satisfaction' to the customer experience quality. Because customer experiences are increasingly important to make a difference in a world where products are becoming more and more comparable.
Defining and improving customer experience is therefore a growing priority for market research. But how do you work on that? First of all, make it clear what a 'good customer experience' means for your organization in concrete terms. There can be very different ideas about that. KPMG has an interesting 'timetable' with zes pijlers van klantervaring (Empathy, Personalization, Time & Effort, Expectations, the Solution and Integrity) to think about this purposefully and to get started.
At GrowPromoter, Experience Experts also help our customers to make this move. This gives them more valuable insights and a grip on customer experience, also from market research.
Roger Taylor
Director and co-founder of GrowPromoter
