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Agile market research and analysis turns the abundance of information into insights that drive business decisions.
About
With increasing pressure on businesses to cut or at the very least control costs market research is often one of the first areas that is cut back. But equally it can be argued that good competitive information arms your sales teams and product/service development teams with the ammunition to promote solutions that are marketing leading. This client provides a market intelligence gathering and analytics service that complements or enhances your own teams ability and bandwidth. They are not looking to be your outsourcer but what they are interested in is being an out-tasker - taking on specific projects such as competitor monitoring that can be a one off exercise or repeated monthly/quarterly where you know you should be doing more but just don't have the bandwidth or budget for more headcount.
Key Benefits
The benefits include • A flexible workforce that fills the gaps in your research and analysis to inform decisions • An extension of your team, they encourage you to consider outsourcing specific tasks, those that you would ideally like to assign to your team members but don't have the headcount or budget to accommodate • Your team remains empowered and now gets support on specific parts of the process • You buy capability not a resource, they have 450 analysts to chose from, with the most appropriate person being assigned to that specific piece of research. Their industry specific expertise speeds up the analysis as they understand the terminology and are familiar with good sources of information providing a more cost effective service • Monetising your databases. It may be that in fact you are collecting lots of good customer data - so much so that you are having trouble getting your arms around it all. Using this client is a way to monetise that data and information • Getting better output not incurring more cost, maybe you just need to understand what data you should be collecting - are you collecting social media and not sure what to do with it? o This client can provide both the software and the analytics to monitor social media, looking for trends, positive and negative comment with regard to your brand. • Reports can reach your workforce wherever they are, delivered via email, a custom portal, or via your intranet.
Applications
Challenge them - what hasn't your team time to do? - They can offer you a 3 to 4 month trial to prove the value. They have delivered more than 17,000 studies to over 200 clients, including leading corporations and professional service firms across the world. Their work has spanned every major industry and functional area covering most countries across the world. Customer examples: o European Airlines - Completed a competitive landscape analysis of major network carriers and low cost carriers operating in Europe for a global consulting firm assessed the capabilities of these players based on parameters such as number of passengers, revenue passenger kilometres, operating profit, average revenue, average cost, and revenue per employee prepared a relative positioning matrix to present the market position of the leading airline carriers on the basis of three parameters – revenue, EBIT, and compounded annual revenue growth o HSBC use this client for competitor intelligence with 20 or so tasks repeated on a quarterly basis o Samsung, their strategy team asked this client to provide specific research and insights on a number of their leading edge projects. This exercise is repeated quarterly with this clients analysts joining project teams on a temporary basis. o Market Intelligence – Airline Surcharge - their client, a leading financial services corporation, wanted to understand the differences in surcharge levied across routes when the airline ticket was booked using various booking channels and payment modes