Competing in the market can sometimes be an overwhelming challenge. It requires controlling a tremendous number of variables, some of which are beyond the brand’s control. Among the factors that most determine a company’s success is the consumer. As individuals, we are affected by countless circumstances that influence our behavior from one day to the next, within certain parameters.
Although today we have access to a volume of customer data that was only a dream a few decades ago, it’s difficult to understand how negative aspects of both the environment and the product or service itself affect them. Identifying the sources of stress in those who purchase our products and services gives us the opportunity to satisfy unmet needs. For this reason, today we’ve listed four ways you can find out what’s upsetting your customers.
In-depth interview. It may seem obvious, but the best way to get the answer to a question is to ask it as clearly and directly as possible. However, within Market Research, we must ensure a minimum set of conditions for the findings of this technique to be valid. First, we need to clearly define who can participate in our interviews. Furthermore, great care must be taken in the design of the questionnaire and the analysis of the collected data.
Focus groups. Among qualitative techniques, we have semi-structured interviews between several participants and a moderator. Assuming that the starting point of adequate participant recruitment is followed, it is crucial to find experts who can stimulate and coordinate the group discussion. The goal of this type of activity is to elicit insights into aspects that might not otherwise be accessible. For example, an outsider’s perspective can spark the need to discuss that same aspect with someone who isn’t as aware of it.
Big data. As we mentioned in this blog post, we are living in a disruptive era. Faced with an astronomical amount of consumer data, the challenge now is to distinguish between useful and unusable records. Thanks to our very active digital lives, it’s possible to collect and analyze search and consumption patterns that reveal real-time decision-making paths. In this area, it’s important to ensure the legal use of data based on national legislation and respecting consumer privacy.
Social Networks. When a calamity occurs, perhaps one of the first things people do is turn to social networks to find information or share their feelings about the terrible situation. Continuously and strategically monitoring the conversation allows you to identify areas of opportunity for credibility and trust almost immediately. Since we tend to share a negative experience with many more people, we must pay closer attention to what is being said about us online.
One relative advantage of measuring people’s stress levels related to shopping experiences is that there is ample material to analyze. Conversely, a positive stance is less noticeable and can generate a false sense of comfort if there are no disruptions to the routine. Investing in market research can give you a competitive edge because you can update your business plans and innovate where others are overlooking them. Otherwise, you risk being overtaken and left behind in your industry.
At Acertiva, we have over two decades of experience in Market Research. Thanks to our presence in key Latin American countries, we can be one of your most valuable strategic partners. Our team of analysts and suppliers is ready to understand your needs and offer solutions tailored to your specific circumstances. Contact us today for your free initial consultation. This could be the start of your next success story.
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