5 key challenges for consumer research services? and how to overcome them
Posted by coralresearch on April 13th, 2017
The Consumer Research service is going through a stage where they have to accommodate to a new criterion on what appears like an annual source. With the rise in influence of big data, mobile research and social media, and customers demanding greater change, more and more abilities require being added to the researcher’s toolbox on an open-ended basis. Foreign clients especially Singapore and UK clients who are looking at entering Indian market are looking for such measures. Moreover, conventional pressures such as to decrease costs and the expanding pace of business also bring new challenges for Consumer research services. These needs to be overcome if market research is to deliver a real impact to the corporate bottom line.
1. The need for agility
Today, ideas change, and new products and services emerge, almost in a night. Waiting weeks or months for review results and analysis that impact business decisions is not an alternative. Consumer research services require to be able to launch surveys within hours in order for their customers to target new possibilities, and the consequences have to be accessible equally swiftly. Technology platforms that are easy and fast to use are indispensable to delivering this swift turnaround, moving from original ideas to final outcomes at the speed that today’s industries require.
2. Cost reduction and automation
In many cases, research estimates are under pressure, as customers and corporations seek to do more with less. This means that agencies need to raise productivity to converge on high-value elements of their business such as research prospect and insight delivery, at the cost of low turning manual and operational tasks where potential. Replacing this complicated set of tools with an only, wide platform, advanced by an external partner, has the latent to dramatically lessen costs while guaranteeing access to the most up-to-date technology. Researchers can concentrate on what they are good at – planning operations and deliver data and penetration to businesses and customers, rather than grapple with out of date technology that inhibits their ability to function.
3. Standing out in a crowded market
This scare traditional agencies, meaning they need to stand out themselves from a growing number of competitors. consumer research services require being more ‘data chefs’ – opting the right methodologies from a number of methods. To do this, they need a flexible technology program that works across mobile, online, and can consolidate multiple data feeds and roots from third party data, social communications, and ethnographic data. This gives the choice to quickly start new services, by expanding their offering and letting them show their knowledge and expertise to existing and latent clients.
4. Protecting consumer data
Consumers are becoming much more shielding of their personal data. At the same time, the quantity and refinement of threats to data security within organizations raise daily. Given the fast-moving pace of consumer research today and the requirement to get closer to clients and employees, the profession now has an opportunity to prove its vital importance to favorable decision making within companies. However, it will only accomplish this if it overcomes the challenges it faces to improve productivity, increase speed, cope with big data from various sources and escort security – and that all springs with evaluating technology and assuring it meets current and projected needs.
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