One of the most biggest reasons that businesses conduct or commission market research, is so they can discover new and better ways to enhance customer experience — and this is definitely a step in the right direction. According to research by Walker Information, by the year 2020 customer experience will be the most important and influential brand differentiator, surpassing both product and price.
However, while market research can be used to improve customer experience, there is also a movement within the market research world itself to make the process more effective and agreeable for two types of market research customers:
- The participants who partake in market research projects, such as focus groups, in-depth interviews, online surveys, direct mail surveys, phone surveys, market research online communities, etc.
- The businesses that buy market research services and solutions through a consultant and/or agency.
In light of the above, here are some innovative ways that market research is evolving from traditional and conventional paradigms, and embracing more innovative customer-centric approaches, technologies, tools, strategies and tactics:
Leveraging Mobile Technologies
Mobile-enabled innovations such as geo-location targeting, geo-fencing, and mobile ethnography are opening up a whole new world of market research insight by connecting with market research participants through their smartphone. This not only captures valuable in-the-moment data — such as the exact product that a participant is buying from a store shelf — but it’s easy and agreeable for participants to remain engaged, since the experience is familiar (i.e. they are regularly, if not constantly, using their smartphones already).
Augmenting Reports with Interactive Elements
With respect to the other group of customers — businesses that purchase market research — one of the most exciting customer-focused trends is improving stakeholder reports with interactive elements, such as video, word clouds, mind maps, and even storytelling.
For example, instead of only showcasing market research results through charts, graphs, statistics and summaries (all of which of course are still important and must be part of the presentation), reports can also tell a compelling story about how customers travel across the buyer’s journey, and what decisions and impressions they have at each stage and phase. This interactive approach brings market research-driven insights to life in a practical, compelling and memorable way, which is essential for translating them into faster, smarter and more profitable decisions.
To learn more trends in market research, and how enhancing customer experience will benefit your market research project and objectives, contact the Communications For Research team today. Schedule a chat with our co-CEO Colson Steber where you can lay out your business goals and create an aligned plan to enhance customer experience. Don’t sacrifice your success for your customers experience! Instead, have a plan to optimize both at the same time.
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