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How to collect, analyze and apply behavioral data like a PRO

28 Apr 2017

Independent, fast, cheap - these are the components of the modern research. What does modern research mean? It is an approach, which includes flexible processes, convenient tools and automated data analysis.

Let's see how to be a PRO in the market research industry today.

What does it mean to conduct research “like a PRO”?

It means being driven by 3 notions we’ve mentioned above - “independence, pace, affordability”. You can call research “modern” only if you conduct it yourself, within reasonable time frame and at an adequate price. Modern researchers don’t spend more on research. Guess why? Now everything changes so quickly that you can’t afford to make big investments in something that might or might not give your ROI in a long run.

Why is it appropriate to conduct research on your own?

Let's recall a couple of issues, which you usually face when ordering research at the agency:

Credibility concerns – you can never be 100% sure whether the research service provider is diligent enough to ensure high data quality.

Communication – conducting research via service provider always entails communication issues making the process lengthy and cumbersome.

Price – money is always an issue, so when investing in research you want to obtain high ROI and useful data. Believe it or not, you can achieve that faster conducting research with self-service tools.

Today there are enough market research tools and software that allow small and medium-sized companies to completely forget about these issues and easily become a research PRO.

Why will you definitely switch to “rely-on-yourself” type of research at some point?

Permanent analysis of consumer behavior and ongoing assessment of our decision-making process are vital for the permanent review of marketing strategies. It’s crucial to constantly update and adjust your marketing approaches.

Tricks that worked several months ago may hamper your sales today. It gets harder for marketers to catch and retain consumer attention. It is highly important to obtain and analyze feedback from your consumers as well as potential consumers on a permanent basis. By delegating the collection and analysis of data to agencies you lose the advantage of being flexible and well-informed in your marketing decisions. Take this into consideration next time you need to gather consumer insights and act on them.

Supervise research processes in order to make them fast and effective. Conduct research quickly, apply the results immediately. Do it like a PRO, Bro!

 

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