Shaping agile market research by enabling delivery within stipulated timelines and set budgets.
Agility in Market Research
The pressure on business leaders to demonstrate return on investment from a diverse portfolio of products and services is continuing to be increasing. The data to make smarter decisions are available, as are the analytical tools.
We at CMNTY believe that taking an agile market research approach is key to collect quality data supported by various qual and quant methods within a single platform to uncover meaningful insights and help drive above-market growth for brands.
By for instance integrating traditional online surveys with agile qualitative research methods, participants can easily share photos and videos during an activity or add afterwards independent of time and location, and researchers can delve deeper into the emotion and experiential components of the subject after taking quantitative measurements. This can save a lot of time and money, as the researcher can understand any problems and get feedback on possible solutions without having to start a new round of research.
Applying agility in market research is in many cases considered the use of do-it-yourself platforms, next to implementation of artificial intelligence and machine learning. However, both of these applications are designed toward speed and may have limitations and constraints which make iterations challenging; effectively, not an actual agile approach.
To be agile, the approach must be flexible enough to apply a wide range of methodologies without losing context of the given responses, to effectively meet stakeholder needs, while also obtaining feedback from those stakeholders along the way to ensure these needs are being met.
CMNTY, being an integrated solution, supports iterations and has the flexibility to change research methods (qual/quant) based on new information, either from learning gained during a project or evolving priorities from stakeholders.
To gain the benefits of an agile approach, market researchers need a solution supporting a wide range of methodologies that can be used interchangeably without losing context.
Agility by CMNTY
You have determined the type of research, you selected the research method(s) to collect data, the sample size and associated incentive cost. You know your available budget and when to deliver the results.
Within your online CMNTY research platform, you make a selection from a comprehensive suite of qual and quant research modules. Within each module you set tasks followed by the sequence of completion, related to the study you need to accomplish. Either import a list of participants, or use the integrated or even an outsourced recruitment service to invite people to participate in your study. This frictionless way of on-boarding ensures that the recruited participants are active right away.
CMNTY’s dashboard provides real-time overview during an ongoing study. Progress and completion stats are reported realtime, enabling you to keep the study manageable and keep in touch with stakeholders about the progress. Stakeholders (real-time) input is invaluable during research, as they live and breathe their industry.
With a few simple clicks you can reorder, add, remove or alter the number of tasks, modules or even methods used; all without losing the context. CMNTY will automatically store all data entries and relate those to each of the participants, independent of process or (changed) order.
CMNTY’s clients are increasingly using agile research to get in-context learning earlier in the research phase and as such build, test and learn faster and gain more insights. Because of this approach, they still have budget to repeat the process until they (and the client) are satisfied with the result. Agile research relies on collaboration, which helps clients ensure ideas are fully fleshed out, reduces rework and excessive cost.
“Human and technology in agile research design… Providing 360° research design I need a wide range of services. Combining CMNTY and Dynata know-hows I can have access to a full range of services for Qual or Quant purpose. I can recruit quickly any type of target, host forum, blog, creative challenge, video interview, group online… Then I can actually provide the ideal and tailored modular ethnographic solutions to my clients, with iterative steps including QUANT validation.The CMNTY platform itself is really user friendly. Dynata panel participants, whatever their age are comfortable with the platform and really committed. The overall process from recruiting to moderating a large community is very smooth. The backoffice is an excellent support for community management so that I can have genuine connection with consumers and share their daily routines to understand their frictions even remotely.”
INGRID BARTHOD – BC&A
Personalization in Market Research
Advances in technology, data, and analytics are allowing market researchers to collect much more personal data regarding experiences across moments, channels, and buying stages. The reliance on insights from data to provide a more personalized offering will increase, as demonstrated by the deployment of personalization beyond digital channels in a systematic way.
The ability to relate to and understand a person’s emotions, so-called empathy is the basis of strong relationships. A research platform supporting algorithms that allow analysis of specific moods tied to certain communication help the researcher to match that mood to a specific creative offering. Regular repeating the research can enhance their usefulness over time.
Market researchers understand statistical data only provides limited insights into consumer behavior and preferences. Ethnography balances an understanding of people’s attitudes, practices, motivations and preferences.
Digital ethnography allows the collection and interpretation of qualitative data to be much faster and more frequent. The use of IDI’s and online Focus Groups with increasing larger sample size of respondents located anywhere with an internet connection, creates an advantage of garnering potentially more genuine reactions from respondents. Next to this, people may find the overall experience less intrusive and become even more candid in their responses. Many respondents are more transparent behind the apparent safety of a screen.
Using stimuli during these sessions has the benefit of eliciting more genuine reactions from respondents by minimizing researcher prompting and potentially leading questions. Researchers can observe respondents’ behavior directly rather than asking them to recall or imagine experiences by using integrated tasks, such as giving ratings via polls, or drawing a sample design. It supplements researchers’ opportunities to uncover new insights and increases engagement among respondents.
The future of marketing is Personal, informed by Data, powered by Technology and delivered through Creativity.
Personalization and CMNTY
Preferences for contactless research is here to stay, and evenmore used because organizations still need to test concepts, products, and services before fully launching them into the market. Use CMNTY’s mobile friendly platform to engage and iterate with a group of participants.
CMNTY enables researchers to tap into at a moment’s notice, using wide-ranging methodologies including surveys, qualitative discussions, focus groups, in-home product trials, video diaries, and self-ethnography shopping missions amongst others.
Participants don’t just respond to surveys or discussions, they also talk about their lives, and how the subject matter affects and fit into their lives. With CMNTY you’re able to create a microcosm of consumers that give permission to ‘see’ into their lives.
Longer research times shouldn’t increase cost considerably more for using an online platform. Simply, the value is not based on the time you’re using any research method but it’s about the amount of data you’re collecting within that period is what brings value.
With CMNTY, participants can be given short surveys at various points in a testing journey (day one, day seven etc.) followed by IDI’s at any point of time the researcher wishes to have more and better insights.
“Focus on CMNTY Platform saves us time and money. With a one-click solution, we can invite clients and participants from anywhere to join a live group. This feels like a modern version of video focus group technology.”
LISA COVENS – LEGER
Cost in Market Research
The cost of research is closely related to the type of research needed. Based on the research question, you determine if you need secondary, qualitative or quantitative market research or some combination. The research method used will also indicate what type of analysis is appropriate, what sample size is needed and what data collection challenges may be encountered.
Sample size is determined by the number of participants needed in the research. The bigger the sample, the more confidence is created that the results are not due to chance and can be projected over the entire population of similar people. Obtaining feedback on potential product promotions or to gain insights to fuel the early stages of product development, a higher margin of error of results can be accepted by using a smaller sample.
One of the most expensive and critical components of market research is the recruitment of participants, the incidence rates and the data collection method related participation incentives.
Secondary research is often a key step determining market demand and competitive landscape with regard to starting a new company, entering a new market or niche, opening up a new location or developing a new product or service. Reviewing secondary research first will identify questions which can be confirmed with an own sample, as well as determine questions that can eliminated from the research (opening up the opportunity to ask other questions).
Qualitative research methods are exploratory, ideal for applications such as concept testing, discussing user needs or testing marketing concepts. Qualitative research is useful when it’s not known what to expect, it helps to define a problem or opportunity or to develop an approach to a problem.
Quantitative research methods are used to obtain objective data produced through a systematic process not subject to interpretation. Quantitative market research generally includes a large sample size so that the data can be aggregated and quantified, allowing researchers to draw conclusions that are projectable to a larger audience.
Research budget is always limited, so use the available funds for the insights that are critical to key business or organizational decisions.
Value by using CMNTY
We keep our promise to provide you with insight into the costs of a “typical” survey in advance. CMNTY’s platform consist of all available methodologies and scope, regions and languages, participants and whether or not you need additional resources. We are always willing to share the license fees for research conducted with or without our assistance. Our goal is to achieve cost savings and add value to our clients so that they can bring value to their customers.
So, let’s put budget where our mouth is: A single platform for a Focus Group study costs 999, with 6,000 attendee minutes. Following our agile market research strategy, you can use all available methodologies interchangeably for the duration of the project (with a maximum of 30 days).
Clients that wish to run more projects, parallel or sequential can use the Hub which would allow them to start a project on the fly based on pre-designed project templates. Access to your own Hub is based on an annual plan for 1,000 per month. Hub subscribers get discounts on monthly plans and the ability to pay per day. This setup allows you to run a Focus Group study in a single day at a cost of 100, with 750 attendee minutes.
“CMNTY allowed us to conduct research in 13 European countries much faster and at a much better price than ever before. All participants really enjoyed being part of the study. The possibilities built into the platform elicit a wide variety of rich feedback from the participant.”
DURK BOSMA – FUTURE OF FOOD INSTITUTE
Let’s make your life easier, it’s our mission!
Market researchers continuously need to focus more on providing strategic insights from the overwhelming amount of data collected, helping their clients make informed business decisions in a better way in a competitive world.
The expectations of clients are increasing due to the complex global business dynamics. Clients expect actionable insights from market research agencies. Insightful strategic reports delivered within stipulated timelines, and within budget which has become an increasing challenge for the industry.
Global and local agencies have chosen CMNTY Platform because of the assurance in great quality of data being collated within the mixed-method platform, next to being economical. The volume of data collated automatically diminishes human error and the insights derived from the mined data stands a high reality supported by being of good quality as well.
For more than a decade CMNTY has been providing qualitative and quantitative solutions to the benefit of the global insights professional, who more than once have to juggle around with the many existing techniques to the challenge of getting the right data in time.
Download the Agile Market Research White Paper
✓ To gain the benefits of an agile approach, learn why you need a solution supporting a wide range of methodologies that can be used interchangeably without losing context
✓ If the future of marketing is personal, and enabled by data, learn how to use CMNTY and become creative in collection.
✓ Research budget is always limited, learn how to use the available funds for the insights that are critical to key business or organizational decisions.