2021 marks a turning point. In the aftermath of profound disruption, a combination of agility, creativity, and customer obsession illuminate the way forward.
Based on a Q&A with SurveyMonkey, we’ve put together the top trends for agile market research in 2021. This blog will touch upon each topic at a high level, but for the full details, be sure to download the eBook.
The market research landscape has fundamentally shifted, and the success of insights organizations will depend on their willingness to invest in new strategies that will drive meaningful change.
From a bird’s eye view, these are the sweeping trends we see disrupting agile market research in 2021:
- More Technology Driven Solutions
- Barrier-Breaking Technology
- The Rise of AI
- Departmental Transformation
The Fundamentals of Agile Market Research
Agile market research is an approach in which projects are structured in smaller, more frequent sprints so teams can adapt to changes and challenges on the fly. Sometimes, these are broken down into regular cyclical cycles throughout the calendar year.
The agile methodology cycles through each of these 4 main stages:
- Explore. Ask questions like: what are the needs of the market?
- Test. Ask questions like: which idea does my market prefer?
- Validate. Ask questions like: how successful will my product or campaign be?
- Optimize. Ask questions like: which improvements will make my product even better?
You’ll also want to track your progress along the way, iterating on the research approach itself to ensure you are getting the most out of your efforts.
5 Agile Market Research Principles
Don’t underestimate the advantage of using both qualitative and quantitative approaches to get deep insights. A wide variety of research studies establishes a natural and engaging communication flow for customers while granting impactful insights to researchers and stakeholders.
Here are 5 agile market research principles to consider:
- Establish Feedback Loops
- Deliver Faster & More Frequently
- Welcome Changes in Scope
- Build a Foundation of Good Research Design
- Regularly Reflect on How to Improve
Integrating Insights with Other Departments
Companies are streamlining. They’re taking inventory of all the technologies they are investing in and assessing them based on how they’re being used across the company to benefit everyone. This also applies to market researchers. Not only do they need technology that grants them access to insights, but the whole organization does as well.
Kickstart Your 2021 Agile Market Research Program
It’s time to assess the research that was done in 2020. Start by asking yourself questions like:
- What do we think will still live up versus what needs updating?
- What is coming up next year?
- Did the research approach we took last year meet our needs?
The full report provides more color and context to all these tips and more, including easily implementable suggestions for disseminating insights throughout your organization. By activating highly relevant insights using DIY tools and agile methodologies, you can quickly establish your insights team as a trusted partner and center of knowledge for years to come.