Michael Heasley, Partner and Chief Research Officer, outlines how making the most of data from awareness, tracking and usage studies can help wring more value from existing research (Quirks, December 2015).
Many times in market research we follow predetermined pathways for the development and execution of research plans and for the decision-making we base on the research outputs. While the research process works well in terms of delivering actionable results that successfully move brands forward, we can lose sight of some of the broader benefits derived from these valuable investments. While these studies deliver data that is intended to inform a specific analysis, there is also an opportunity to glean additional information and insights from the data beyond the standard set of expectations. Ultimately, we are unintentionally leaving important insights on the cutting-room floor. In my time on both the vendor and industry sides of this business, there has been more than one occasion when we, as marketing researchers, have been challenged to “do more with less” and to “see what we can do with what we already have.” When our marketing colleagues challenge us with these statements, we are afforded a chance to creatively think of ways to leverage collected data in new and better ways.