Outside of traditional market research departments, market studies are an important source of information for many other departments such as marketing, innovation, digital transformation, design, and even IT. These departments find in market studies an agile solution for their information needs to make business decisions, improve conversions, or website usability, among other applications.
In this sense, beyond sampling designs, weights, or elevations, certain market research techniques, both quantitative and qualitative, provide relevant data for these departments, which base many of their strategies on deep customer knowledge, user experience, or participation in co-creation processes of ideas, products, advertising campaigns, and more.
Online market studies, whether from a more qualitative approach through insight communities or from a more quantitative approach with online market research on a larger scale, offer the opportunity to address specific target audiences. This allows marketing or innovation departments to validate their hypotheses about an idea, new products, or website functionalities with real consumers who are part of their target audience.
Within the field of marketing, market research plays a fundamental role due to its ability to obtain data from real users or customers, analyze it, and draw conclusions that facilitate decision-making. This leads to better ROI and other relevant KPIs. Thanks to the commercial approach of market research through online market research, we can determine the total market demand, make sales forecasts, assess the market share of different brands, identify and analyze consumer archetypes, or understand specific demand by geographic areas or other variables.
This commercial approach and vision have become a key element in every marketing strategy for several reasons: it helps develop commercial strategies, gather feedback from real consumers, and even create the company’s marketing plan.
Years ago, innovation left the laboratories and began to immerse itself in markets, capturing consumer opinions and needs in order to create, or rather co-create, new ideas or products/services for the company before production or implementation. Innovating helps companies find new opportunities, and if we incorporate consumers into this process, understanding their motivations, obstacles, preferences, etc., the strategy gains full meaning.
In this regard, we can turn to one of the most suitable qualitative research techniques for carrying out these business practices: insight communities. This market research solution acts as a contact forum between companies and potential or real customers to interact, learn from each other, and both benefit and strengthen. How? The company creates brand experiences, humanizes itself, generates innovative ideas, imagines new business models, reduces costs, and the customer, on the other hand, feels part of that brand, appreciates that their ideas and opinions are taken into account in the company’s structure, which probably leads to a better user experience.
Large corporations such as banks, telecommunications companies, or consumer goods companies are implementing these strategies within their innovation departments, and at We are testers, we have made our contribution thanks to our market research platform and techniques, with successful cases in this regard. Our platform has brought together the voice of the company and the consumer.
Update date 14 April, 2024
