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How adopting an agile market research methodology can help gain the insights you need!

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With the huge impact of digitalization on today’s modern lifestyle, every industry is striving hard to radically transform its business operations and create a growth-oriented vision for the future. As consumers expect more clear and instant interactions with brands now, researchers need to adopt an agile market research methodology for seamlessly supporting their marketing as well as product development efforts. From small startups to the biggest industry leaders like Amazon, every company is moving to agile research methodologies for getting things done. What makes these organizations embrace this modern way of research? Let’s find out:

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Agile Market Research Methodology and its importance

An agile market research methodology is a strategically approach that aims at analyzing and reinventing the ongoing business practices to address the urgency caused by the continuous change in customer behavior and market trends. It is known for replacing traditional and lengthy market research campaigns with quick (agile) techniques to deliver faster growth and improve ROI.

Leveraging agile market research methodology not only helps you create effective strategies & products that resonate with your audience but also lets you deliver more effectively by following a customer-centric approach. By gathering accurate and actionable insights, agile market research plays a key role in reaching out to the right customers quickly, validating new business ideas, and keeping a real-time pulse on the existing market.  

Here are the steps involved in agile market research:

  • Start by understanding the objectives of your agile market research methodology. It helps you ensure effective usage of customer insights, eradication of development downtime, and end-to-end customer-centric success.  
  • Break down your research bids into short chunks and effectively map them to reduce the time wastage in research & development, minimize resource waste, and lower risks. 
  • Match the strengths of your team to the agile research tasks that need completion. By making your research team work at its full potential, it helps to get rid of obstacles that can hinder the research success.
  • No matter if you do qualitative or quantitative research, leverage an efficient, fast, and user-friendly software that empowers you to conduct, analyze, and report data that effortlessly supports your agile market research methodology.
Market Research toolkit to start your market research surveys and studies.

Traditional Market Research vs Agile Market Research

By effectively reviewing the standard workflows of a particular project,  traditional market research includes a number of phases such as – project kickoff, design, review, analysis, as well as reporting. As there’s fixed time allotted to every phase in this traditional approach, a right output is generated before transitioning to the next phase. However, following this approach consumes a lot of time and effort. 
Whereas agile market research starts at a smaller level and proceeds in stages known as “sprints”, that develop on the preceding one. Being faster and more affordable than traditional research, agile market research empowers researchers to gain more insightful feedback about the consumer experience. Since the research tasks are not time-bound, consumers are free to respond as per their choice or availability. Due to the seamless integration of different tools for data collection, agile market research offers a shorter process of response, thereby improving the overall CX.

How can Voxco help you make the most of your agile market research?

  • Custom Survey Design
    As every research study has some specific unique requirements (based on various demographics, seasonal requirements, etc.), there’s a need to create research surveys with customized questions for meeting such requirements. Voxco allows researchers to create questions that can gather requisite insights from their respondents.
  • Best-in-class Analytics
    Gleaning insights from the gathered data is one of the most crucial aspects of agile market research. Voxco comes with a comprehensive set of analytics tools that enable researchers with details like survey status, response rates, etc. It also comes with powerful reporting capabilities for creating custom reports that can be shared with different stakeholders depending on the level of information they need.  
  • Omnichannel Capabilities
    Online surveys, telephonic surveys, or face-to-face interviews – all of them play a pivotal role in fetching insights that can be crucial for market research. Voxco’s robust market research platform allows researchers to gather actionable data across multiple channels and use a centralized dashboard for synchronizing the results. This streamlines the process of conducting research and helps researchers collect more accurate data.
  • Easy Distribution
    Irrespective of the methods that you use for research, the accuracy of your results is based on the number of people (from the intended audience) you were able to reach out to. Voxco helps researchers to get the most from their market research by effectively distributing surveys via emails, SMS, push notifications, etc. This helps to generate better insights, thereby powering your agile market research.

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