Most innovators are full of great ideas, but they often go through the innovation process backwards. Many create new concepts and then try to figure out what problem their new product will solve. While successful innovations are sometimes born this way, it is also the reason many innovations fail.
Revolutionary innovations result from first identifying unmet needs and then challenging your innovators to fill the void with solutions. Without innovation, companies merely produce “me-too” products, which are priced
accordingly. To stay ahead of your competitors and lead with true innovation, you must identify unmet needs.
If your innovation pipeline isn’t full, or your innovations are missing the mark, studying unmet needs is your answer. Not only can we help you uncover your consumers’ biggest challenges, but we also help to prioritize
them.
Each year, millions of dollars are wasted developing products that miss the mark with consumers. By testing ideas before development begins, you can ensure your concepts resonate with the market.
We understand that R&D budgets are limited. Seeking feedback from the start also allows you to prioritize your pipeline and direct resources to the concepts that promise to have the biggest market impact and largest
return on investment.
Researching a technology while it is still in development helps guide key design decisions before the product is finalized and the cost to make changes substantially increases. Additionally, seeing your products in
the hands of consumers provides invaluable insights into the user experience. From aesthetics to functionality, we assess every aspect of the product to ensure it is visually appealing, intuitive, easy to use and engaging.
Market testing your finalized product provides many benefits. First it provides quantitative data with respect to the demand for your product and consumers’ willingness to pay for it. Secondly, it provides insights
into the segments of buyers for your product resulting in more targeted marketing.
For B2C technologies, testing finalized products helps guide promotional messaging, determine appropriate advertising channels, set realistic sales expectations, and optimize pricing strategy.
For B2B clients, presenting your customers with objective, credible, 3rd party data on your technology’s demand and consumers’ willingness to pay for it is an effective means to secure future contracts.
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Whether you’re looking to grow your business or maintain your leadership position, understanding the health of your brand and tracking its performance over time can provide many benefits.
First, assessing your brand enables you to fully understand how customers perceive your brand relative to your competitors. Also, these studies distinguish what’s most important to your customers and what they want in the future. Finally, tracking your brand over time helps identify changes in key metrics so you can strategically adjust as needed.
By identifying your strengths and weaknesses through the eyes of your consumers and tracking your performance over time, companies can better position their products and brands to drive long-term success.
Customer Satisfaction Studies are the most efficient and cost-effective method for gaining deeper insights into your buyers. They are crucial for businesses aiming to understand their customers better and to improve their products, services, and overall customer experience.
Customer satisfaction studies can identify what motivated consumers to buy in the first place and what they are considering next time. They can also identify areas where a product or service may be lacking, allowing you to address these issues effectively. The ultimate benefit, however, is stronger customer relationships and increased loyalty. This can result in significant cost savings since acquiring new customers is substantially more expensive than retaining existing ones.
A company’s greatest asset is its dedicated employees. By making the effort to really listen to how your employees feel and addressing the factors driving dissatisfaction, you can significantly increase satisfaction. This results in a workforce that is engaged and committed to achieving organizational excellence. Furthermore, tracking these metrics over time can help to identify changes in employee sentiment well before seeing an increase in employee turnover.
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Many companies purchase syndicated reports or other industry data but don’t have the internal resources to fully utilize them. As a result, the data sits on your shelf quickly becoming outdated.
Our team of data experts can help you mine the data for useful insights about industry trends, your products, your competitors, future projections, and more. We’ll create a custom report that provides you the answers
you are seeking, so you can focus on what you do best – making decisions that take your organization to the next level.
Secondary research, also known as “desk research,” is a cost-effective means of gathering data to support your efforts in competitive intelligence, benchmarking, market & industry trends, consumer behavior, and company
profiles. Our team is skilled in mining vast amounts of data and presenting it in a concise and user-friendly format.
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