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Market Research – Navigating a world in Lockdown

Throughout history, there have been several watershed events that have become catalysts for change. Change so great that concepts that seemed far-fetched suddenly get translated into mainstream reality.

There’s no denying it – The CoronaVirus (COVID-19) outbreak is one such event. This pandemic’s economic impact is already being felt, but that’s only one aspect of it. 

There will possibly be paradigm shifts in how the world works, and getting ahead of the curve can be the difference in a company’s fortunes. With social isolation being practiced on a global scale, we’ve got a lot of people staying home waiting for this storm to pass, leaving them with more time on their hands. Engaging them with online survey tools would help you uncover insights which can help you gear up for the frenetic phase when social distancing ends. New trends, both in products and customer behavior are likely to crop up and it’s best to be equipped with actionable insights when that time comes.

Work from home may be the new normal

Businesses, colleges and schools globally have been talking about work from home/ online classes for a few years, and many have experimented with them on a limited basis. The last couple of weeks, though, have seen work from home go from a proof of concept to ‘community testing’, so to speak. 

The same holds true for market research. Thankfully modern online survey tools are cloud based and can be operated from one’s home with minimal issues.

Product experience may evolve

An expected ripple effect of work from home is on how people use products and services. Suddenly that music streaming subscription that you bought for your hourly commute just doesn’t seem worth it anymore. 

Market researchers need to find out from their focus groups if and how their priorities have shifted over this period and adapt their product experience accordingly. 

One may argue that these preferences may only be temporary, and once the process of social distancing is done away with, people will revert back to their old habits and preferences, but that is quite unlikely – The world we’ve left will not be the same world we go back to. 

The People Factor – CX and EX

Enterprises, retail, academia, customers, buyers, teachers, students – they’ve all been affected by this pandemic and a change in your product experience, will most certainly impact your customer and your employee experience.

Accumulating both employee and customer feedback at this juncture can help you glean valuable insights about how your offerings perform during the worst of times. As an aside, this can generate some goodwill for your brand from both employees and customers. 

The mental health equation

Humans are naturally social creatures – We’re pack animals. We’ll carry out social distancing to the best of our ability, but it comes at a cost. While you can use online survey tools to find out people’s perceptions on things, why not ask them how they’re doing? You can even use your survey tools to disseminate information about the virus, clear misconceptions with embedded links and images and assuage their concerns.

Voxco is trusted by researchers across verticals in 30+ countries. If you want a robust Multichannel Market Research survey software to launch surveys at unparalleled scale.

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