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[Webinar] What Top Software Firms Have to Teach Market Researchers


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Agile software development has revolutionized the software industry, and shapes the programs, websites and apps that you love. Discover how agile software development has inspired the principles of agile market research.

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[Webinar] What Top Software Firms Have to Teach Market Researchers

  1. 1. What Top Software Firms Have to Teach Market Researchers Matt Warta CEO & Co-Founder, GutCheck @mwarta Jeffrey Henning President ResearchScape @jhenning
  2. 2. 2 • This session will be recorded and sent out to all attendees • Presentation time will be kept to ~30 minutes • We’ll have time for Q&A at the end 2 House Keeping Items
  3. 3. @gutcheckit #AgileMarketResearch Please Tweet and Join! Join the ‘Agile Market Research’ group on LinkedIn +
  4. 4. 4 1. Is Agile Market Research at a tipping point? 2. What is Agile Market Research and how does it create value? 3. What research areas can Agile Market Research be applied? 4. How have customers applied Agile Market Research? 5. How can I get started? Key Questions to Answer Today
  5. 5. 5 In 2011, we witnessed innovative customers using us in an “agile way” Interviews: 48 in-depth interviews up to 45 minutes each; testing 10 different concepts with multiple aspects Iterations: 5x Completion Time: 2 days to complete all interviews Audience Interviewed: Females ages 25-54, income over $40k, employed, homemaker or student, and use liquid dish soap 5+ times per week
  6. 6. In 2012, leading companies start heading this direction
  7. 7. In late 2012 at TMRE, GutCheck partners with P&G to discuss Agile Market Research and its implications on market research
  8. 8. More people are talking about Agile Market Research…this is a good thing 2013 2014
  9. 9. Still lack of understanding What the heck is Agile Market Research? Bob Lederer Business Research Report
  10. 10. GutCheck writes the eBook on Agile MR
  11. 11. What is this process? Software Development Process Pre-Agile (2001) Waterfall Approach Objectives Deliverable Design Implement
  12. 12. 12 Traditional Software Development Process Challenges in Software: • Months long, expensive process • Steps occur in sequence • After objectives (requirements) determined, little customer feedback • Oftentimes, the most important insights come post Deliverable "The waterfall method amounts to a pledge by all parties not to learn anything while doing the actual work.” - Clay Shirkey, Author and NYU Distinguished Writer in Residence Objectives Deliverable Design Implement
  13. 13. 13 What’s the Process Top Software Firms Use?
  14. 14. 14 Solution: Agile Software Development Agile Tenets: • Satisfy Customer through early and continuous delivery • Recognition of missing knowledge • Each sprint / iteration 2 – 3 weeks • Customer-provided feedback shapes the next iteration • Results in market optimal products Deliverable Design Implement FeedbackDesign Implement FeedbackDesign Implement Objectives 2 – 3 weeks Iteration 1 … 2 – 3 weeks Iteration n
  15. 15. 15 “Today, 88% of organizations use Agile techniques.”1 And they are reporting great benefits2 : Sources: 1 2013 VersionOne study (3,500 software developers) 2 2013 Standish Group study (database of nearly 50,000 IT projects) Adapted to Changing Priorities 92% Increased Productivity 87% Faster Time-to-Market 83% Enhanced Quality 82%
  16. 16. 16 Traditional Product or Creative Development Process Challenges: • Weeks- or months-long, expensive process • Steps occur in sequence • After objectives (requirements) determined, little customer feedback • Oftentimes, the most important insights come after validation testing or post-launch Objectives Deliverable Design Implement Validation or norms-based testing becomes the “one shot on goal” to get the product or creative right. If it’s off, then more time / budget is lost going through the process again.
  17. 17. 17 Agile Market Research USES • Segmentation • Brand Tracking • Competitive Intel • Exploration • Co-creation • Product Innovation • Copy / Creative • Shopper Insights • PR / Social Media Deliverable Weeks (if norms-based testing) $ or $$$ Days $ Days $ Research Time Research Cost Design & Implement FeedbackDesign & Implement FeedbackDesign & Implement Objectives
  18. 18. 18 1. Speed: Ability to complete studies – Recruit to Report – in a few days or less 2. Specific: On demand segmentation….no pre built panels 3. Iteration = Accuracy: Ability, mindset and tools required to take an iterative approach that drives quality • Tools: on demand, and hybrid toolset (e.g., quant and qual) 4. Budget friendly: Extends your research dollar v. other techniques 5. Focused: Answering the critical few within specific research areas 18 Criteria for Picking an Agile Research Vendor
  19. 19. Agile Tools • Real-time In-depth Interviews • On-demand Communities • On-demand Surveys • Micro-surveys • Mobile Studies 19 Agile Researcher’s Toolkit Commonalities 1. Extremely time & cost efficient 2. Integrated recruitment 3. Comparable quality to other digital tools
  20. 20. 20 PR Crisis and Communications Refinement Results Research Time = 3 weeks FeedbackDesign & Implement FeedbackDesign & Implement Ran GCS Survey to understand awareness High awareness but not spreading IRCs to track sentiment and develop/refine communications (5 Iterations) Unchanging sentiment, and feedback to refine communications Consumer-led mash- up of communications and validation in market Objectives Understand general awareness of credible challenge to key marketing claim; and develop communications to address the challenge
  21. 21. 21 Business Opportunity Identification Profile of current usage of broad category of web sites by state Design & Implement Objectives Deliverable Feedback Objectives Profile of usage of narrow set of web sites by leading MSAs of interest Design & Implement Deliverable Feedback Deliverable Feedback Gap analysis of where current services fail to meet expectations Design & Implement Objectives
  22. 22. 22 Creative Screening and Refinement Results Research Time = 24 Hours FeedbackDesign & Implement FeedbackDesign & Implement Ran Survey to assess key copy measures Strong but opportunities to improve believability 20 In-Depth 1:1s to understand how to bolster believability Prescriptive feedback on areas to refine copy to improve believability Passed Action Standard Objectives Assess copy for new product launch by CoverGirl, and provide feedback for refinement
  23. 23. 23 1. Stack hands on using Agile Market Research upfront  Get a proof point  Get brand team and other constituents (e.g., ad agency) on board  Everyone wins 2. Gain insights from Agile Market Research to enable collaboration  Quant as the diagnostic and Qual as the prescription  Set up retrospectives to iterate on learnings 3. Improve ideas, concepts, animatics, and executions based on feedback (repeat 2 & 3 as needed) Ready, Set, Go! 23 @gutcheckit #agilemarketresearch
  24. 24. Thank You! Any Questions? Join the ‘Agile Market Research’ group on LinkedIn + Matt Warta CEO & Co-Founder GutCheck @mwarta Jeffrey Henning President ResearchScape @jhenning