Tired of painful processes, scope compromises and unanswered questions?
Traditional market research is robust, but it’s also slow, costly and cumbersome. On the flip side, many of the new AI-only challengers are fast, but lack the expertise needed to deliver quality insights.
Because of this, you normally have to compromise on one of the following when commissioning research:
- Speed
- Ease
- Quality
Traditional agencies will give you ease and quality without speed. AI-only challengers will give you speed and ease without quality. Survey platforms will give you speed and quality without ease.
How you can break this Iron Triangle? Here are a few approaches to consider:
1. Consider market research solutions that leverage a combination of AI innovation and human expertise
Consider working with market research partners that combine human expertise with the latest technology. AI is innovating and accelerating each stage of the research process from brief creation to survey design to data analysis and reporting.
Identify solutions that are trained on vast quantities of high-quality data, in addition to having expert human guardrails. These tools will streamline the research processes and reduce lead times, using best-in-class market research principles, so you can spend less time on admin and more time on action.
2. Use in-the-moment and multimedia collection methods to gather the nuance, as well as the numbers
Traditional market research methods often rely on participants' ability to recall their experiences and opinions, which can be subject to recall bias. To mitigate this, explore capturing in-the-moment data, by collecting research in real-time as consumers interact with your product or service.
Better still, multimedia collection methods such as using photos and videos can provide hard evidence and additional context. This method can provide important insights such as how your product is used in conjunction with others, offering a comprehensive view of occasions and more nuanced insights.
3. Make your research more agile through a hybrid approach
Traditional market research is rigid meaning brands often need to choose between qual and quant for a single study. Moreover, quantitative studies are based on pre-determined closed-text questions that can lead to tick-box bias.
Wave goodbye to this rigidity by integrating quantitative and qualitative data collection in your studies. This hybrid approach allows for a more dynamic and comprehensive exploration of market trends and consumer behaviours, providing both the breadth and depth of insights needed for strategic decision-making.
One way to achieve this is by collecting open-text responses. Developments in machine learning have allowed qualitative analysis methods be applied to vast datasets to analyse participants verbatim, photos and videos to unearth nuanced insights. Take it a step further by replacing static surveys with AI-powered conversations. This approach combines the depth of a 1-1 interview with the scale of a survey, making it easier to understand the 'why' behind the 'what' in people's own, unbiased words.
Learn more about how AI is disrupting market research and enriching the research process here.