Discuss Co-Founder and Chief Strategy Officer Jim Longo in Quirks Media
When will inflation end? Are we in a recession? How are consumers feeling right now? Market researchers at leading agencies are answering the last question with qualitative research – a critical strategy during uncertain times. Researchers are taking the customers pulse on price sensitivity to help brands focus on building loyalty when it’s too costly to bring customers back after a recession. They are doing all of this with less, without compromising insight quality, through new tools to drive efficiency.
How has this impacted the businesses that these agencies serve? It has allowed companies to access more timely, relevant and context-rich information about people, their lifestyles, opinions and emotions. At a time when the consumer landscape is marked by economic uncertainty, the glut of quantitative customer data that organizations now have access to only tells part of the story. Quantitative data delivers facts, but emotions dominate consumer motivations, and that is where qualitative research comes in. It guides organizations to understand the “why” behind the behavior. Market research agencies know this, which is why they’re increasingly leveraging new online conversation tools and platforms that pull it all together.
In this article, I’ll explain how researchers are delivering actionable insights, impressing clients and winning over new ones.
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