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8 (Not-So) Secret Strategies for Great Market and Consumer Research
By E2E Research | August 25, 2021

The secret to successful research may not be a secret but in the hustle and bustle of work, we often forget one or more of them. If that describes your day today, then consider this your quick and friendly reminder!

 

 

#1 Don’t sell: solve problems.

As researchers, our job isn’t to sell questionnaire design, scripting, data analysis, report writing, and dashboards. Those may in fact be the specific services we offer but our real job is help our partners discover practical solutions to their business problems – Why isn’t this SKU selling, what new product do consumers want, who are my customers, how can I upsell to a target audience, how can I complete more projects when half my team is on holidays, how can I help a client when I don’t have all the services they need?

 

Our job is to thoroughly understand the business and research problems, and then translate them into appropriate solutions. Whether it’s concept studies, customer segmentation, journey mapping, market forecasting, or providing professional services, if we can’t translate a need into a custom solution, we’ve not done our job.

 

 

#2 Know your audience

A lot of market research starts by truly understanding a specific audience. Who are they – what are their hobbies, where do they live, where do they work, what does their family look like? It’s really easy to calculate a median age and the percentage of customers who are female but the last few years have taught us a lot about intersectionality – it’s not just “women,” it’s “disabled Black women.” In the research world, we understand this as customer segments or personas.

 

After conducting a well-designed survey, focus group, personal interviews, social listening, or analytics, you’ll have the necessary data to run a reliable segmentation and identify 3 to 5 distinct target groups of people within your ideal audience. For example, a couple of common ones are Primary Grocery Shoppers and Moms of Infants.

 

Once the data has spoken, you can then build a unique buyer persona, a fictional character, for each target group to clearly outline each one’s unique characteristics. This will make developing a set of products, prices, messaging, and marketing that genuinely resonates with each one much easier.

 

 

#3 Map your marketing

Researchers spend a lot of time mapping journeys – shopper journeys, patient journeys, student journeys, employee journeys. Building products that people want to use and buy means understanding the wants, needs, and challenges customers experience at every stage of the journey. You might discover that the most problematic stage, in fact, is not the most problematic stage.

 

Build a plan to understand every stage of the journey from end to end. As eloquently shared by Biz Davis from Abacus Agency, you need to understand whether your brand is lacking in awareness, interest, consideration, purchase, or advocacy, and whether consumers want to be entertained, inspired, educated, convinced, or delighted.

 

 

#4 Think like you search

If you’ve written a questionnaire before, you know how important this tip is. Sure, you could write a questionnaire as if you were Charles Dickens showing off his stunning, grammatically correct 200-word sentences with multiple, embedded clauses.

 

Or.

 

You could search on TikTok and Twitter and find out how people really talk. Use phrases regular people use. Use words everyone understands even if there’s a technically more precise word. Write questions and answers the same way people search and you’ll end up with a questionnaire that people want to answer!

 

 

#5 Promote your content

In the marketing world, this means thinking about native ads, social sharing, and cross-channel marketing. But for researchers, it means sharing your research across the company – from researcher to brand manager to innovation team to development team to marketer.

 

When everyone in the company is familiar with the results of your research, they can each do their part to amplify the outcome of the insight.

 

 

#6 Tell a great story

How do you get colleagues to share your research? Easy! Well, it’s not that easy. Storytelling is a necessary skill that will carry your research results throughout the company. Let people know what is exciting about the insights, how they could be used to reach consumers in unexpected ways, how they could personally benefit from understanding the results.

 

And sure, though the bulk of the research will be educational, informative, and standard, be sure to incorporate just a small bit of fun along the way.

 

 

#7 Become an authority

Don’t rest on the laurels of the research you did last year. That’s old news now. The theory may be correct but times and technology have changed. Follow up last year’s study with one that builds on what you’ve learned from your colleagues, seen among your competitors, and witnessed in related industries.

 

Show your colleagues what your brand could become if everyone worked together to leverage new, innovative research methods, techniques, and skills. Become the expert at your company who constantly pushes everyone forward towards building a better product and a better company. Get that seat at the table.

 

 

#8 Start small to grow big

You could build and execute a 5-year research plan.

 

Or, you could start small with a single project that gives you a solid overview of one product or target audience. Inhale it, memorize it, internalize it.

 

Then build the five-year plan. Because at this point, you’ve seen all the strengths and weaknesses among a specific product, how your colleagues work together, how your company systems work, and what’s happening in your industry. You have perspective now.

 

Now you get it. Now you can think really big.

 

 

My inspiration for this post?

I watched a webinar given by Biz Davis from Abacus Agency in Toronto in which he shared a bunch of his secrets for building an effective marketing strategy. The webinar will be posted on their website very soon so do go have a peek.

 

While watching, all I could think was how relevant his secrets were, in particular, for market and consumer researchers. The headers are his words, and I riffed on the ideas to bring you the research tips.

 

Are you ready to plan a great market or consumer research project from End to End? Email your project specifications to our research experts using Projects at E2Eresearch dot com.

 

 

Learn more from our other blog posts

30 Questions Medical, Pharmaceutical, and Healthcare Market Researchers Need to Answer to Help Support a Successful Business
By E2E Research | April 30, 2021

Market research is the foundation of any successful business. Within the healthcare industry, it helps us to better understand perceived strengths and weaknesses of medical devices and pharmaceuticals, gain a better understanding of key stakeholder wants and needs, gain a better understanding of the industry and competitive market space, gain a better understanding of advertising campaigns and promotions, and create fair and profitable pricing strategies. Let’s address each of these areas individually.

 

(Of course, feel free to skip to the end for a list of healthcare/pharma conferences and podcasts!)

 

 

Better Understand the Product Strengths and Weaknesses

At the heart of a successful business is a carefully researched and designed product or service that meets the key needs of its target audience. By conducting well designed surveys and product/sensory tests via IHUTs or Central Location Tests, you can understand:

 

  • What needs does your product meet and what unmet needs need additional development?
  • What features of the product are unique within the broader, competitive category and can serve as your unique selling points?
  • How is the product correctly and incorrectly used suggesting needs for training or redesign?
  • How is your product used in unanticipated ways such that new needs or audiences could be addressed?
  • Does the memorability of your product require improvements in terms of its features, branding, colors, or logos?
  • Should certain product lines be expanded or reduced based on growing or decreasing market needs?

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    Review a product case study:

 

 

Better Understand the People: Patients, Caregivers, Physicians, Healthcare Workers, Payers

While a quality product or service is being build, it’s important to understand the perceptions of all key stakeholders. From users to buyers and those who will be recommending the product, it’s imperative that each group understand the strengths and weaknesses of the product in order to ensure maximum success. Using questionnaires, business intelligence, and secondary research, there are a number of key questions you will need to understand about your key stakeholders:

 

  • Who is your target audience in terms of their demographic, psychographic, family, social, economic, and health characteristics?
  • How does the patient journey evolve from the onset of symptoms through to diagnosis, treatment, management, and recovery while understanding medical, emotional, financial, and social needs and situations?
  • What personal experiences do patients have within the category including adverse events from your brand and competitive brands?
  • Which stakeholders come into contact with your treatments, medical devices, or healthcare facilities e.g., buyers, administrators, payers, technicians, clinicians, patients, families?
  • What does each stakeholder group need, want, feel, and prefer?
  • What drives each key stakeholder group to choose, use, buy, and recommend your brand vs competitive brands, e.g., clinicians, patients, payers, buyers, sellers
  • Which stakeholders will influence your target audience to consider using or buying treatments, medical devices, or facilities?

    Review a stakeholder case study

 

 

Better Understand the Placement, Industry, and Competitive Market Space

Every product or service exists within a broad ecosystem of competitive brands and companies. By conducting questionnaires or secondary desk research, you can understand a wide range of business problems such as:

 

  • Who are your primary and secondary competitors locally, globally, and virtually?
  • What product, physical, emotional, social, and economic needs is the market needs failing to address?
  • How has the competitive landscape changed over the last year and how might it forecast into the next 3 to 5 years within your country and potential expansion countries?
  • Where are the white spaces to develop new products, extend services, or open new locations?
  • Can secondary data help us understand how large our existing market is and how large it could be while remaining profitable?

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   Review a market case study

 

 

 

Better Understand Promotions, Advertising, and Campaigns

With a great product or service built and the target audience well understood, a marketing campaign is normally required to reach out to the target audience and introduce them to your offering. Using questionnaires or data analytics, a number of key questions can be answered:

 

  • Which online and offline information channels do your users and buyers use to learn about new products, gather recommendations, or make purchases?
  • What types of messaging would be most successful at reaching your target audience and differentiating your brand from competitors?
  • What types of ads would be most effective with each of your audience segments when considering likability, meaningfulness, believability and the likelihood to act?
  • What types of healthcare marketing campaigns are more likely to be successful?
  • What types of brands, companies, or influencers would your users and buyers like to be incorporated in an integrated marketing campaign?
  • Which concepts are most memorable and would generate the most action from your target audience?

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   Review an advertising case study:

 

 

Create A Fair and Profitable Pricing Strategy

There is more to pricing than picking a number that will generate profit. A price that is too high can reduce physician recommendations and insurance coverage. A price that is too low leaves achievable profit on the table. A final price can only be determined by understanding your true profit margin, market pricing, and stakeholder needs. To build the most effective pricing strategy for your medical device, pharmaceutical product, or service, conduct the appropriate surveys, interviews, and secondary research first.

 

  • Based on secondary research, how are competitive products on the market currently priced?
  • Using questionnaire data, what type of pricing strategy is most appealing to healthcare administrators and payers?
  • What type of pricing strategy would facilitate product recommendations from clinicians and physicians?
  • Which user segment has the least and the greatest revenue potential?
  • Based on a Conjoint or MaxDiff questionnaire, which product features drive higher and lower prices?
  • Which set of product features would drive the most profit?
  • What type of pricing strategy is fair for and accessible versus out of reach to patients?

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   Review a pricing case study

 

 

 

Conclusion

Building a successful medical, pharmaceutical, or healthcare product or service requires a foundation of well designed and executed research coupled with well analyzed and actioned results. Whether you’re tasked with supporting the growth of an innovative new brand or helping a company understand their buyers and their business, our team has more than ten years of experience helping researchers, marketers, and brand managers generate great quality healthcare data and insights for the questions outlined above. Please feel free to email your project specifications to our research experts using Projects at E2Eresearch dot com. We’d love to help!

 

 

Learn at upcoming healthcare industry conferences

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Listen to some great podcasts about healthcare marketing

 

 

Consumer Perceptions Towards Online Ordering & Delivery Services | A Survey + Secondary Research Case Study
By E2E Research | April 27, 2021

Research Objective

  • A new food delivery company wished to understand consumer perceptions of online food delivery services in an Indian market.
  • They needed to understand:
    • Why consumers choose online delivery services
    • Perceptions of online food delivery portals
    • Barriers to using online food delivery services
    • The competitive environment including expansions, new product launches
  • They also needed to understand key drivers, challenges, and perceptions of pricing.

 

Scope & Methodology

  • A structured questionnaire was designed to identify which food delivery websites consumers are using and why, and focused on key drivers, pricing, and trends in the online food ordering and delivery market.
  • The target audience included students, self-employed people, homemakers, and service employees.
  • Secondary data sources included news articles, company annual reports, a variety of websites, press releases, and other relevant, trusted documents.
  • Key analyses included:
    • Understanding customer satisfaction with ordering and searching for specific food items
    • Identifying more suitable restaurant selections given the desired food item
    • Understanding desires for offers and discounts
    • Understanding concerns about on-time delivery needs and customer services
    • Understanding customer needs and wants for improving the online food ordering process.

 

Value Delivered

  • Our expert analyses enabled the client to better understand customer desires in product offerings, customer satisfaction, and regional presence of all major food delivery competitors.
  • Comprehensive findings and insights allowed them to make more strategic decisions grounded in data to facilitate the expansion of their business.

 

 

Check out other retail case studies