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Embedded research-how to maximize consumer interactions

Traditional market research processes suffer from a few shortcomings that make them mostly unusuable for SMEs. They are expensive, take a lot of time, often result in deliverables with little to no usability for a client with no research knowledge, and are very difficult to adjust sometimes.Embedded research is a way for small and medium companies to integrate a research process inside their organization. They are already making contact with their clients/customers. Why not use those existing interactions to collect structured data about them? This will result in more meaningful and actionable insights than a traditional research process while retaining full control and ownership of everything.

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Embedded research-how to maximize consumer interactions

  1. 1. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 Know your customers through embedded research Alexandru Dincovici, Ph.D IziBiz Consul@ng
  2. 2. What are the emerging technologies in Market Research? Ray Poynter, The Future Place Festival of #NewMR 2018 NewMR 2018 Sponsors Pla>num Gold Silver Communica>on Your name here? S>ll >me to be a 2018 NewMR Sponsor
  3. 3. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 What’s wrong with “regular” MR Pricey Time consuming (and not agile enough) Need for internal expertise (what to do with the MR report?) Lack of continuity (what comes next?) Mostly used/bought by large companies. SMEs, especially those with a digital presence (hello there, ecommerce) don’t see its benefits or consider it too expensive. Time bound process
  4. 4. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 Embedded research WHAT IT IS A way for (especially) small and medium companies to integrate a research process inside their organization. A solution to bridge the researcher/ manager gap (the field researcher doesn’t usually have the manager’s understanding of the business and a lot of time is spent to find common ground between the two) WHY IT SHOULD MATTER You are already making contact with your clients/customers. Why not use those existing interactions to collect structured data about them? This will result in more meaningful and actionable insights than a traditional research process. And you get full control and ownership.
  5. 5. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 The process
  6. 6. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 An example Client: real estate company, rolling out an innovation The need: product testing The constraints: no time and no budget for a traditional research process, separate of their selling process. The solution: embedding a research process into their sales encounters. The selling script was heavily modified, allowing both the sales and the research to take place. Agents were trained in data collection, assisted and then left on their own and debriefed regularly. The result: a useful research report and directly actionable insights, embedded in the client’s organization for less than 30% of the cost of a traditional research project and in half the time.
  7. 7. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 Thank You! Alexandru Dincovici, Ph.D General Manager @ IziBiz Consul@ng alexandru.dincovici@izibiz.ro hQps://www.linkedin.com/in/alexdincovici/ hQp://izibiz.ro
  8. 8. Know your customers through embedded research Alexandru Dincovici, IziBiz Consul>ng Festival of #NewMR 2018 Q & A Alexandru Dincovici IziBiz Consul>ng Ray Poynter The Future Place
  9. 9. What are the emerging technologies in Market Research? Ray Poynter, The Future Place Festival of #NewMR 2018 NewMR 2018 Sponsors Pla>num Gold Silver Communica>on Your name here? S>ll >me to be a 2018 NewMR Sponsor

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