Market research is a discipline. For this reason, it implies minimum quality standards for all the people and processes involved. Many times we take certain circumstances or information for granted. However, this can lead to misunderstandings and repositioning of processes that cannot always be remedied halfway. That is why we list four aspects of any project that cannot be left aside when carrying out a market study.
- Do not share the same terminology. When we work with the same work team that masters the same list of concepts, it may be possible to shorten communications between members to save resources. However, when other people are involved, it is well worth reaffirming that this or that idea must be understood, since errors can occur in execution that are very difficult to resolve on the fly.
- Do not do pilot tests. This point was the subject of our previous blog post. It should be remembered that in the planning of a project, the projections of time and resources may not match reality. For this reason, pilot tests must be applied with all the assumptions of the planned study. Only in this way can adjustments be made before carrying out activities without real utility.
- Assume the same conditions for all respondents. It is natural to think that all people share our conditions. In fact, the latter is one of the many biases that direct our reasoning. However, when applying certain dynamics, it is very likely that they cannot be executed as initially expected, since the circumstances of the respondents and analysts are different. This type of area of opportunity is observed more in investigations that are designed in a country that is very different from the one where the protocol is applied.
- Failure to adequately incentivize participants. We know that there are times when the resources to invest in research are limited. However, it is preferable to adjust the design of an entire study to involve fewer people to participate in it with enthusiasm and dedication than to introduce additional bias due to lack of interest in our research. Sometimes it is not about money incentives; Many more incentives can be offered such as gifts, coupons or gift cards.
Paying special attention to the above points reduces the chances that market knowledge projects will be more expensive and time-consuming. At Acertiva we know about these situations and therefore we share them with you. Our experience for more than 19 years in Latin America places us as a strategic ally for you who are looking to invest in Market Research. Write us today.