Market research is fundamental to understanding precisely what consumers want, need and prefer, allowing brands to tailor their offerings to resonate with their customers and win sales. Companies increasingly recognise the value market research can bring, as evidenced by all segments of the US insights and analytics industry growing at an unprecedented rate of 16.6% and its global revenue exceeding $76.4bn in 2021 — growing more than twofold since 2008.
As more companies integrate insights solutions, such as a market research cloud or platform, into their organisations, it’s easy to assume that market research teams will own and operate that function as they have traditionally. But market research shouldn’t be a one-department job; it should belong to all members within an organisation through democratisation, which allows everyone to create and consume user research insights.
When market research has cross-departmental buy-in, it empowers other members in an organisation to conduct their own research, analyse the results and make relevant decisions instead of depending solely on market research teams to provide that data. Other departments conducting research also opens the door for new market research tools to be discovered and exchanged within an organisation. According to Fuel Cycle’s 2022 State of Market Research Report, 60% of survey participants shared that they know about new solutions from colleagues.
Democratising market research means all employees contribute to the improvement of a company through better products/services and more innovative thinking. This raises productivity throughout an organisation because more people are conducting research and increasing output. The result of this is actionable research that allows faster critical decision-making.
Another benefit of democratising research is a stronger company culture due to sharing a common goal: understanding and appealing to customers and their desires. As cross-functional teams conduct research, they’re collectively working together to centre and improve the customer experience, which is crucial.
Departments outside of market research get to experience firsthand what these experts do to collect user data and the work that goes into it, converting them into allies for research.
The ins and outs of insights research may not be familiar to outsiders, so it’s up to market research teams to gradually introduce other departments to their world. Democratising research starts with scheduling meetings with department leads, exposing this group to how user data is used and not used. These meetings allow both parties to openly communicate about departmental priorities, needs and wants.
Research experts can deepen engagement with leaders by connecting research activities to departmental priorities. Experts can give leaders a chance to work through pain points by asking them to recommend market research tools that address them.
Another way of democratising market research is by actively sharing work. As team members begin learning about market research and how it works, it’s important to have examples they can glean information from and, eventually, emulate.
Finally, remember that other departments are essentially novices in market research, lacking the knowledge base of seasoned market researchers. The tasks they receive should match their skillset. For instance, a product team member just learning about focus groups shouldn’t be put in charge of running one on the same day. They need tools and tasks within set parameters that allow them to capture data safely. Consider letting employees use pre-built survey, poll and feedback form templates to conduct research as these tools don’t require prior training to use.
The value of market research is unmatched in letting companies learn more about their key customer bases, which helps inform product and service development and improvement. Market research is more powerful when everyone in an organisation participates in collecting it, accelerating decision-making and strengthening company culture. Democratising research helps companies to work together and, ultimately, appeal to customers as a collective.
Rick Kelly is chief product officer at Fuel Cycle
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