Creating insights in real time is becoming easier. Do you have everything you need to benefit from them? In this article we give you tips for conducting quick market research and streamlining decision-making in your organization.
What is real-time market research?
Real-time market research is research that uses technology to automate the most common tasks in the research process. This makes it possible to launch a market study faster and obtain data in record time.
Simpler studies, with few questions and representative samples, may require only a few hours of fieldwork. Responses to these types of studies may be available within the same day. Longer studies, or those with more complex samples, will require more hours, but it is unusual today to find research requiring more than 48 hours of fieldwork.
Benefits of real-time insights
Delivery times measured in hours, rather than days as was common just a decade ago, have dramatically changed market research. Today, companies benefit from much gambling data korea phone number faster and more agile research that brings them multiple benefits:
Accelerated decision-making. The time needed to obtain data is shortened, which in turn allows for shorter decision-making times. For example, when launching a campaign, a couple of weeks can be saved on the calendar compared to a traditional advertising pre-test . These two weeks can be crucial to being able to be on air on the scheduled dates. And enjoying faster market research is one of the fundamental benefits that has motivated the expansion of real-time insights.
New use cases. With real-time insights, it is not only possible to conduct the same studies faster. It is also possible to conduct studies that would have been impossible before. An example would be a crisis situation in which a brand wants to know the impact on public opinion before defining its response. It is now possible to gauge public opinion in a few hours, use the information to manage the crisis with data, and repeat the study 24 hours later or as many times as desired to understand the evolution of perceptions among the public.
Iterative market research. Now that launching market studies is faster and easier, it is possible to apply the agile work methodology and obtain urgent answers today and leave for the next study everything that has not been fully defined to enter the field. A new study will be done to collect what is missing when the time comes. This new agile research approach allows you to have some of the information much sooner and not have to wait to make progress.
More efficient research. Speed gains are achieved through automation and the use of technology, which in turn enables efficiency gains. It is now possible to do more research without breaking your budget, covering more needs and allowing more teams to benefit from it.
Myths and facts about real-time market research
During the implementation of real-time insights solutions, it is common to come across some myths that need to be dispelled.
Myth #1: Data quality is not the same. The truth is that real-time research is at least as good as traditional research, as it is designed to replicate exactly the same processes. In addition, automation reduces the chances of human error, and allows for the introduction of quality checks that weed out respondents who provide inconsistent answers.
Myth #2: You have to be a research expert. As real-time insights delivery becomes more sophisticated, tools become easier to use, and support teams become more empowered to provide customers with everything they need.
Myth #3: It's for big companies. Accessing real-time research is possible for organizations of all sizes. There is no need to sign up for a minimum plan to get started with real-time market research.
Tips for real-time market research
Here are some tips to help you get started easily and confidently in the world of real-time insights.
Start with easy or repetitive surveys. Many companies tend to start with small surveys, or surveys that have several waves to make the most of the effort of programming a survey. As companies gain experience, they tend to progressively increase the level of complexity of their surveys.
