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Smart Insights, Smart Business: Time For an Automated Market Research Platform

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5 Signs You Need an Automated Market Research Platform Market research platform
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Do you need an automated market research platform? These 5 signs can tell.

Today, agile market research is the way to ensure you are incorporating your target customer and employee needs into products, communications, and services. It is a roadmap that leads to effective decision-making to maximize profits and market share across the board. 

Customers expect and demand a seamless and relevant experience. They have grown accustomed to marketers’ knowledge of their preferences and anticipation of their needs. 

By learning exactly what your audience wants and needs, you can quickly make effective decisions that will lead to increased market growth and a healthy bottom line. 

We know, as smart business owners, you’re already doing that, but are you efficient enough? Does your current process allow you to accelerate market research? Is it providing you with faster insights? 

If the answer to the above questions is NO, then it’s high time you adopt a market research platform. 

It’ll not only help you get consumer insights faster but also allow you to evaluate competitor performance, market saturation, and potential market gaps. 

We’ll discuss more benefits of using an automated market research tool later in this article, but first, let’s look for the signs that’ll tell you if you need one.

Understanding Automation in Market Research

Automation in market research helps streamline data collection and expedite the research process. It involves using advanced survey software to create surveys and collect, analyze, and interpret data. The automation reduces the manual effort and the risks that come with it. 

While you might assume that automation means a lack of customization, it isn’t true. Modern platforms provide a balance between customization and automation. 

Read how Voxco helped HRI conduct complex market research and accelerate insight generation.

Read their story>>

5 Signs That You Need an Automated Market Research Platform

As a business, time is money. There is nothing worse than spending time and money on a process that doesn’t provide the results you need to thrive. 

Here are some signs that your market research process requires an automated marker research platform:

01. Your Competitors Are Thriving While You Are Not

When your competitors are gaining traction while you’re stuck in the rut, it’s a sign that you need to take a look at your market research techniques and tools. 

There’s possibly a huge gap between what your customers need and what you’re delivering.  

By adopting an automated market research platform, you’ll be in a position to fill those gaps. How? Let us understand this with an example of Voxco Audience.

Voxco lets you connect with a pool of 10M+ online research panels. You can use 90+ data and profiling points to choose the right panel for your research project. 

Since these panels are provided by a trusted third-party vendor, who you can manage from your dashboard, you’re in full control of the insights and timelines. 

The exposure to the right panel and faster generation of relevant customer insights help drive you forward towards a larger market share. 

02. You Are Inefficient

Even though this is the most obvious one, it’s worth a mention. If your current market research process isn’t making it easier for you to accelerate your research process in due time, what’s the point? 

An effective research process is one that is complete in a set timeline, without researchers having to wait for months to get insights and then perform the analysis. 

An automated market research platform will make it simple to conduct research, get insights faster, and see where you stack up against competitors in record time, making your marketing research 10x more efficient. 

03. Your Decisions Are Not Based on First-Hand Insights

Insights are important, in fact very important in a marketing research process. But, if your insights aren’t coming from the right source, they aren’t much of help. 

Surprisingly, 88% of companies rely on third-party customer data, rather than gathering customer insights themselves. 

Don’t be one of those companies. Instead, focus on becoming an insights-driven company by using a reliable online research platform that will seamlessly adapt to the best insight methods, allowing you to target any customer, prospect, or employee at any time. 

Stay ahead in the competitive market with Voxco Audience, the global panel research platform.

→ 10M respondents

→ 90+ profiling points

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See Voxco survey software in action with a Free demo.

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04. Your Research Is Generic 

Market research should be done differently depending on the industry. So, if you’re relying on a blanketed one size fits all approach, STOP! 

Instead, invest in an automated market research platform that lets you perform targeted research with 90+ data & profiling points, leaving you with high ROI, and an edge against the competition.

05. You’re Marketing to the Wrong Audience

If you’re spending a huge amount of marketing campaigns, but yet, are not able to assess what’s working and what’s not, you’re probably marketing to the wrong audience. 

What you need is data-driven marketing, and a way to map your efforts to pipeline so that you can maximize your marketing’s impact.

With an automated market research platform, that connects you with the right research panel, you’ll be able to assess the impact of your marketing efforts, including the effectiveness of marketing campaigns to adjust targets and maximize ROI. 

All these signs are enough reasons to switch to a reliable market research tool but here are some benefits that you should consider too.

Additional read: How to Choose the Right Market Research Survey Software for Your Business?

What are the Benefits of an Automated Market Research Platform?

Market research automation has revolutionized the way you can gather data and uncover insights to make informed decisions. Let’s delve into some benefits of integrating an automation market research platform into your MR strategy. 

  • Efficiency

It helps reduce survey research time from months to hours, along with high-quality responses with large proprietary samples. 

  • Broader Panel Reach

It allows you access to the ever-increasing robust set of samples and 60% of proprietary samples in north America. 

  • Faster Insight Generation

An automated market research platform enables you to collect rich, first-hand insights via multiple channels. Moreover, you can generate meaningful insights in real time using live dashboards, custom in-depth reports, and one-click summaries to anticipate trends in a timely manner. 

  • Better Decision Making

It lets you integrate real-time feedback with operational data to make strategic decisions. Additionally, with access to advanced data analysis and real-time reporting, you can communicate insights better and make decisions based on empirical evidence. 

  • Genuine Panel Profiles

Modern market research tools give you access to MR panels, enabling you to conduct research faster and ensure a large sample of respondents. A platform with 90+ data & profiling points, you get access to curated & real profiles only, ensuring the collection of accurate and reliable data.

  • Increased Productivity

By letting you automate the most time-consuming tasks, it helps increase the productivity of researchers and thereby increases the overall output. 

  • Cost-effectiveness

Automated market research platforms provide an integrated tool that allows you to seamlessly conduct every step of research on your own. This means you have one platform to create surveys, collect data, and analyze and uncover insights. Moreover, automation streamlines most manual tasks, which helps save operational costs.

  • Third-Party Integrations

Gives more depth to your studies with eye-tracking, facial coding, and video open-ended questions.

  • Quality & Security

With features such as Google-captcha, duplicate IP check, VPN and proxy protection, and custom screening questions in place, it ensures top-notch data quality & security. On top of that, a modern research platform complies with the highest level of data security standards such as GDPR and TCPA. 

  • Panel Vendor Management

Exercise full control of panel vendor management from your dashboard.

When to Use An Automated Market Research Platform?

In market research, automation has redefined the possibilities of data collection and analysis. Let’s explore three ways you can utilize it. 

1. Large scale surveys: 

In the context of market research, you will often need to conduct large-scale surveys to capture insights from a diverse and expansive audience. Manually conducting surveys across multiple regions or demographics is not practical as it will be time and resource-consuming. 

This is where automation plays an important role. An automated market research platform enables you to efficiently gather, process, and analyze data from a wide range of respondents across regions. 

2. Real-time feedback:

The ability to gain a competitive edge hinges on the ability to gather feedback in real time. Manual or traditional ways of data collection delay insights and hinder timely decision-making. 

Automation introduces the capability to gather feedback in real time and generate insights. It enables you to make adjustments and timely interventions.

3. Audience insights segmentation: 

With personalization becoming the key driver of customer engagement, organizations need to leverage the insights and create targeted offerings and communications. 

Automation offers seamless integration of data from various sources, enabling you to create customized surveys for each audience segment. 

Voxco helps the top 50 MR firms & 500+ global brands gather omnichannel feedback, measure sentiment, uncover insights, and act on them.

See how Voxco can enhance your research efficiency.

Book a Demo

Conclusion

When all the signs mentioned above, or any one of them start to surface, you will know it’s time to adopt a reliable market research tool. 

And we have just the right one to recommend to you- Voxco Audience, a fully automated market research platform from Voxco. 

Voxco Audience helps you accelerate your survey research projects by letting you generate on-demand customer insights.

Whether it is customer satisfaction, product development, brand perception, or anything else, you can adopt Voxco Audience for a better and faster market research process.



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