Like many other services, market research has been impacted by both the demands of clients as well as the innovations in technology. Twentieth Century market research involved going into the field, collecting data, analyzing it, and producing a report that explains the results and what they mean. And while there is still valid use for this type of research, 21st Century market research has evolved beyond this model.Shapard Research’s CEO, Bill Shapard, has identified three critical aspects to market research in the 21st Century:
- Real Time – Clients no longer want to wait 6-10 weeks to see results. They want to be able to review the data in real time.
- Metric Building – The whole goal of collecting market intelligence is to utilize the results to improve the company’s bottom line. Taking these results and building key metrics for each level of the company will give managers and executives quantifiable measurements of employee and company performance.
- Actionable – At the end of the day, the results from market research should allow managers and executives to take specific actions to improve company performance.
This is the future of market research – quicker results, measurements that improve performance, and actionable data for managers and executives to guide employee and corporate progress. Shapard Research is the leader in 21st Century market research. Contact us today to find out how we can help your business harness the power of research to create long-term growth and opportunities.