Remember spending your Friday nights combing through the aisles of DVDs at Blockbuster? If this question brought up fond memories of buttery popcorn and chewy milk duds, you likely feel a little sad that this once thriving business is no longer. As consumer desires shifted in the early 2000s, companies like Netflix and Redbox swooped in to steal Blockbuster’s market share, effectively making their brand obsolete.
If they had collected better data on their customers, would they still be around today? If they knew that their customers wanted more convenience, more access, and less hassle, would the video store giant forever be a staple of our Friday nights? Who knows, but we bet it would have helped them pivot their operations before others stole their glory.
Agile market research allows companies to collect data to incorporate customer and employee needs into products, communications, and services. By understanding precisely what their audience wants and needs via qualitative agile research, they can quickly make decisions that will lead to long-term success.
Here is a brief overview of what qualitative agile market research offers to brands big and small.
Benefits Of Agile Market Research
Because change is the only constant in this world, businesses need agile market research that accelerates decision making and ensures that they incorporate customer and employee needs into products, communications, and services at every turn.
Gone are the days of formulaic and lengthy market research campaigns that quickly go stale. Companies that utilize agile market research break their projects into short sprints to focus on what is working for their customers and what isn’t; Because data is continuously collected, researchers can draw conclusions in real-time, leading to highly informed decision making.
When appropriately implemented, new products are launched quickly, changes to existing products are made swiftly, and new ideas are vetted more efficiently.
Why Qualitative Agile Research Is King
Qualitative agile research calls explicitly for the collection of real human insights via in-depth interviews, focus groups, observations, and video. With this branch of agile market research, marketers are better equipped to provide critical answers to the “why” behind the “what” of consumer behavior. New product concept analysis, attitude and usage studies, positioning and competitive analysis, product satisfaction research, and advertising effectiveness are just some of the areas where marketers use qualitative agile research.
One of the main benefits of qualitative research is that it uncovers the underlying motivations behind consumer purchase decisions. Richer and more poignant responses are possible versus quantitative methods like online surveys because respondents have the opportunity to elaborate and dive deeper into each question while researchers are afforded the ability to ask follow-up questions.
Moving Agile Research Online
In addition to garnering more insightful feedback, qualitative agile research can be done 100% online. Focus groups, observations, and in-depth interviews have gone digital with solutions like Live by Fuel Cycle. With capabilities like a virtual waiting room, screen sharing, whiteboarding, and even a private backroom for observers and stakeholders, collecting consumer data has never been easier.
