Customer loyalty is crucial when shifting marketing strategies. 82 percent of U.S. adults are loyal to brands, while 74 percent of millennials would switch to another retailer if they received poor customer service. Moreover, 61 percent of satisfied customers are very likely to recommend a company to other people, compared to just seven percent of …
Read MoreCustomers who contribute to the insights process provide invaluable insights, but it’s the responsibility of researchers to craft a skilled survey. Often, researchers settle for general questions, such as “Why would you purchase this item?” The answers are frequently described as “interesting”, which is code for “I have no use for this information”. By contrast, …
Read MoreA popular rebuke to customer-led inspiration is attributed to the great 20th Century industrialist Henry Ford. If you’re a senior executive who believes in going with his gut, you can trot out (no pun intended) the Ford quote about faster horses as a reproach to customer-led inspiration. Well, our story could end there, but that’s …
Read MoreCo-creation – in particular, ideation or CrowdWeaving® as we like to call it – is not always cut and dry. There’s a lot of magic that goes on behind the scenes, in order to conduct a successful ideation session. Here are some of the things we like to keep in mind when conducting an ideation …
Read More[vc_row][vc_column][vc_column_text css=”.vc_custom_1528487851114{padding-bottom: 50px !important;}”]Market research industry trends in 2017 promise to do no less than change the field forever. And, as you might imagine, automation and artificial intelligence (AI) are key to these developments. These days, people are constantly posting details about their tastes and preferences on social media and other digital platforms. Only software …
Read MoreHopefully by now you are comfortable with the difference between crowdsourcing and co-creation. After understanding what co-creation is and the benefits it affords, you may be interested in learning even more about how it stands apart from traditional market research tools. Once co-creation gets rolling, the ideas that emerge are often amazing, but what you …
Read MoreCrowdsourcing and co-creation are powerful product development strategies that the internet age ushered in. However, some business leaders are still uncertain about what they involve, which one to use and why they matter. If you’re debating the co-creation vs. crowdsourcing issue and you’re trying to decide which would be better for an upcoming project, you …
Read MoreCustomer loyalty can be defined as the choice of any given customer to purchase your goods or use your services for comparable goods and services offered in the same marketplace. You gain customer loyalty by gaining a deep understanding of your customer base. Now, more than ever, it is important to understand the underlying needs …
Read MoreNot too long ago, when a company engineered products and services, it relied entirely on its internal development team (e.g R&D, Design, Packaging, Brand Teams, etc) to provide suggestions and evaluations. After they conceived the idea, created and fine-tuned those offerings, they released and marketed them without any further testing. Nowadays, consumers, suppliers, vendors, distributors …
Read MoreMost leaders of consumer research companies are aware of co-creation, whereby consumers, technology experts and other outsiders closely collaborate with a company for a certain length of time. Together, they imagine, design, build and market a new product or service. This hands-on process goes far beyond traditional marketing research methods, which primarily involve customer surveys …
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