Insights in Action
July 28, 2011
SITUATION—Need to Attract Non-Users
A manufacturer of do-it-yourself home maintenance equipment enjoyed a loyal relationship among Users, thanks to products—built with the client’s high manufacturing standards—that had a reputation for less maintenance, fewer repairs, and ease of use.
However, the client couldn’t expand market share without capturing more Non-Users who perceived the brand as “the product for the professional” and at a level of quality not suited for home use.
Our client realized that they needed to understand this market better to develop a complete inventory of marketing tools, including:
- New product features
- Distribution
- Sales messages
- Pricing
CHALLENGE—Understanding the Nuances of Non-Users
In our discussion with the client it became clear that there was a real need to understand Non-Users better, especially how to market to them. This lack of familiarity with Non-Users made it hard to define a tight, crisp research study.
It was clear to the client that Non-Users shopped differently than Users. Non-Users went through different sales channels and made purchase decisions based upon different expectations. The challenge was to set up research that could color in the gray areas between a User ...
July 20, 2011
New Research Indicates Big Risks, Opportunities for Health Insurance Providers
Providers will face new competitors, business models and customer demands; they will also enjoy new opportunities to grow and expand.
FGI Research just completed a study that was fielded in June and July, which was aimed at the emerging needs and preferences of health insurance consumers. We’re excited to post three preliminary insights and implications from our research.
- Insight: 40% of consumers might buy direct. As new options become available, 40% of employees would like to buy their insurance directly from a Payer instead of through their employer’s health plan.
Implication: The market for individual plans will increase substantially and include many consumers who have never had to research and choose among health insurers. Payers must increase their understanding of this “buy direct” segment and begin to formulate offerings and experiences that will earn their loyalty.
- Insight: 50% of consumers will research their options and 50% will consider switching. As the details of health care reform roll ...
June 3, 2011
Why Your Next Market Research Study Should Include Social Media Mining
Ten years ago, how would you have responded if a market researcher asked you the following…
“Would it be helpful if I listened in on hundreds of thousands (even millions) of conversations about your product, summarized the key findings, and used them to improve your research design and final recommendations?”
Let’s save some time. I know your answer. It’s an emphatic “Yes!!”
Fast forward to 2011. Most companies agree that social media has a lot of undirected potential to explore. This sort of online, anytime, ethnographic insight is available to anyone who has access to the internet. However, now a big concern is how companies can develop measurable ways of focusing this wealth of information into fact driven, actionable insights. With a little technology, research rigor and innovative thinking, it can be integrated into any type of market research initiative you may have.
So, have you made social media mining a mandatory part of your market research?
If not, let’s talk ...
April 28, 2010
How leading utilities are benefiting from market research innovations.
In the last five years, custom panels have brought tremendous benefits to market research teams across multiple industries. More recently, online communities have started to replace traditional qualitative methods like in-person focus groups. At FGI Research, we help many of the country’s leading utilities draw maximum benefit from custom panels and online communities alike. Every utility client sees promising results as it adopts these up-and-coming market research methods. Below is a summary of key benefits that utilities are generating:
#1 –Savings: Market research is a major expense for electric and gas utilities. Their core studies often include customer satisfaction trackers, concept and ad testing, and saturation studies. Altogether, the cost for these studies can eclipse a million dollars or more per year. Properly implemented, custom panels and online communities can help a utility’s MR department shave off 20-40% of these research costs. Even when trackers require multi-modal designs, the cost savings from using custom panels and online data-collection are huge.
February 8, 2010
Malcolm Gladwell, in his much-celebrated book, Blink, advises people to go with their gut (which is based on experience) when deciding things quickly. As is often the case, a competing viewpoint (and book) has arrived to suggest another approach, at least in certain circumstances.
Michael Mauboussin, in his new book, Think Twice, advocates for a more measured approach to making certain decisions. He argues that we can put too much stock in our personal intuition and experience… and not enough in rigorous, fact-based, contemplative methods. Specifically, he calls us to engage the “wisdom of crowds,” which in the marketing research world means online communities and social media mining; statistical models, such as regression, conjoint, and MaxDiff; and best practices of data collection, which includes online surveys, custom online panels, RDD telephone data collection, and more.
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