Market Research Consultant Insights: Over the last couple of years, business analysts have been highly focused on “consumer insights.” A lot of products and services have come to market claiming to deliver “insights.”
However, even with the best tools in hand, the process of applying insights to real business problems is no easier.
Overview of Market Research Insights
How do market research consultants make insights actionable? Marketing professionals spend so much time, money, and effort to create a data flow, but often don’t know what to do with it. And, in many cases, if there are still questions once the data has been gathered and reported, it may be too late.
The secret to making insights actionable is in how you organize the data collection process. Often the task at hand is really, “how to measure strategy.” Creating a sound strategy always starts with deconstructing what appears to be. The following two categories are useful when framing any successful business strategy.
- Results – that which you’re trying to impact or change (e.g., call volume, sales, coupon redemption, loyalty, revenue, widgets produced)
- Delivery – that which impacts the things we want to change (e.g., staffing, packaging, marketing, price, etc.)
Cause and Effect
So, we have information that is “results” and information that is “delivery” by nature. If you were a statistician, you’d call these dependent and independent variables. Another way to look at them is as cause (delivery) and effect (results).
When organizing your information into these two categories, you’ll find that you have laid the foundation for converting data into actionable insights.
What do you think? Do you organize your data with the end in mind? Do these market research consultant insights help?
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