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Qual + Social = Complementary Insights, A Case Study

Learn how to combine qualitative insights with social media listening to give brands a 360-degree view of their target audiences’ needs and ways to meet them digitally. KNow Research used a combined, complementary insights strategy to help The Financial Gym, a personal financial services company that takes a fitness-inspired approach to their clients’ finances. They were looking to expand their digital offering when in-person financial coaching (the cornerstone of their offering) was not possible in 2020. If you are an insights professional interested in learning about combining techniques to inventively solve problems, join us for this tale of two methodologies.

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Qual + Social = Complementary Insights, A Case Study

  1. 1. Qual + Social = Complementary Insights, A Case Study Katrina Noelle President, KNow Research & Co-Founder, Scoot Insights
  2. 2. Katrina Noelle 4 Katrina has worked tirelessly since 2003 to build a female-focused, full-service qualitative consultancy which specializes in creating client customized design by combining methodologies from traditional in-person research with online and mobile approaches. Gaining an overall picture of a consumer’s world is a key factor to Katrina’s and her company’s success. Over the years, she has developed an impressive range of verticals and focused KNow’s studies on how products, services and industries interact with respondent’s lives. She is proud to have made KNow Research a certified member of the Women’s Business Enterprise National Council (WBENC) as well as being a champion of women in and out of the insights community. She is also Co-Founder of Scoot Insights, a trademarked decision-making methodology grounded in qualitative research.
  3. 3. Pro Bono Project 5 §  KNow Research’s 2020 pro bono study was for The Financial Gym – a personal financial services company that takes a fitness-inspired approach to their clients’ finances §  Their initial plans for 2020 were to do a traveling road show across the US, connecting from customers nationwide in order to expand their offering. And then, well, 2020 happened…. https://financialgym.com/
  4. 4. Study Goals 6 https://financialgym.com/ §  Deliver targeting strategies for potential FG customers §  Inspire messaging/marketing strategies to attract these customers §  Fine-tune and/or expand Financial Gym’s service offering Project Objectives
  5. 5. Why Qual? §  Existing customer survey data §  But no connection with non- customers…yet! 7
  6. 6. Methodology – Part 1 – Qualitative 8 https://knowresearch.com/methodology/ §  Mimics the spontaneity of in-person intercepts §  Allows for a large qualitative sample size in minimal field time §  Focused on metro areas with less exposure to TFG Booth™ Insights
  7. 7. Qualitative Findings 9
  8. 8. Why Add Social? §  Cast an even wider net §  Tap into what is naturally/ organically discussed §  Understand if qualitative conversations mirrored the views of the larger population 10
  9. 9. Methodology – Part 2 – Social 11 https://www.talkwalker.com/ http://www.northstarsg.com §  Cast that wider net by listening to conversations on social channels over the past 24 months §  Mined conversations on the topic of #personalfinance, discussions in financial advice channels, and mentions of the TFG brand Social Media Listening
  10. 10. Social Findings 12
  11. 11. 13 There's never been a more important time to bring social media analysis into consumer research projects.  For 12 months and counting, consumers have been stuck at home using social media, blogs & forums to stay connected, including to express their views on important cultural topics, brands, products and industries.  We were able to quickly analyze how consumers perceive personal finance decisions, from "pre-COVID" (2019 & Jan 2020) to "Initial Lockdown" (Feb-May 2020) to "Post Lockdown" (May-Dec 2020), providing tangible insights that informed & complemented the rest of KNow's research efforts. – Frank Gregory, Social Media Intelligence Practice Lead, NorthStar Solutions Group
  12. 12. Complementary Insights §  Deliver targeting strategies for potential FG customers §  Inspire messaging/ marketing strategies to attract these customers §  Fine-tune and/or expand Financial Gym’s service offering §  Shine a light on participants via video 14 Social + Qual Qual
  13. 13. Learnings 15 §  Both methods have unique benefits as well as complementary ones that can make either method useful individually, or supercharged when used interdependently Qual + Social
  14. 14. 16  We were impressed with the presentation of their results and findings – from the pulled quotes and learnings to the video – these findings helped validate product and pricing updates that we were going to make. It was good to see that validation. – Emily Egan, PR and Strategic Projects The Financial Gym
  15. 15. Katrina Noelle 17 @kat_noelle www.linkedin.com/in/katrinanoelle www.knowresearch.com www.scootinsights.com KN@KNowResearch.com
  16. 16. Q & A 18

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