Agile Market Research: What is & how to start

The agile market research methodology has infiltrated various disciplines in recent years due to its multiple benefits. The agile method divides a complex process into stages called sprints and interconnects them to create a more effective flow.

New products and services can thus be tested much more cost-effectively and faster, introduced into the market and further developed based on customers’ “real” needs. The same applies to innovations, concepts or campaigns.

What is Agile Market Research

Agile Market Research is a methodology that combines technologies and processes to streamline the collection and analysis of consumer information.

The task of agile market research is to establish faster, leaner, more flexible, and digitized processes for data collection and data analysis in the company to be able to react quickly to changes in the market and to be able to adapt to the wishes and needs of customers. 

Customer feedback can be collected at short notice and analyzed in real-time, thus providing immediate insights in a series of short cycles that can directly incorporate new ideas, features, products, and solutions and create transparency for everyone involved.

Benefits of agile market research

The added value that agile market research brings, namely testing products, concepts, and campaigns intensively in advance, is much more cost-efficient, easier and faster than in the past. 

Due to new technologies, products, advertising measures, and campaigns risk the rejection of their primary target market, resulting in considerable costs or damage to the brand reputation.

The importance of testing products and advertising has quickly become of significant priority, as flops have often cost millions, not to mention damage to PR.

Agile Market Research Examples and Study Cases

Think of the many marketing flops that even large and experienced corporations have suffered.

  • For example, Mitsubishi, named one of their models “Pajero”. The company should then launch the off-road vehicle on the Spanish market. However, the term pajero is a naughty swear word in Spain.
  • Or the company Henkel, which advertised a detergent in the Arab world with the slogan “DIRTY → PERSIL → CLEAN”. The company just ignored the fact that the reading direction in the Arab countries is different, namely from left to right.
  • In Asia, people didn’t like “Ronald McDonald” because a clown with white makeup is associated with death in this region.

There are countless other examples to back up the importance of deep market research before taking action.

Agile Market Research Stages

There are different stages of this methodology, and it’s crucial to understand each one, their differences, and how they work together as a whole.

agile market research stages

EXPLORE

  • Identify target markets
  • Identify customer needs
  • Assess competition
  • Select technology

    CREATE
  • Define interaction with users
  • Determine the “look and feel” of the product
  • Test and launch

    EVALUATE
  • Performance benchmark
  • Analysis of customer feedback
  • Measure ROI
  • Initiate improvement measures

Tools and Methodologies

Due to the rapid technological development of software-supported market research solutions, it is possible to generate valuable insights with a high impact within a short time through regular data collection

  1. Conjoint Analysis
  2. TURF Analysis
  3. Van Westendorp Price Sensitivity Meter
  4. Net Promoter Score
  5. Intercept Surveys
  6. Online Panel

Other methodologies are:

Product Test, Concept Test, van Westendorp Price Sensitivity Meter, Online Focus Groups, Semantic Differential, Maximum Difference Scaling, A/B Tests, IAT, Mobile Diary, Heat Maps, Image & Video Rating, Surveys and Polls, Offline Data Collection, Market Research Communities, Social Listening, Market Research trends, Market Research Testing Procedures, Comprehensive Analysis and more. 

The web-based software for agile market research QuestionPro combines powerful tools for agile market research on a single platform, with which you can implement all conceivable types and forms of surveys and test methods for market research.

Best Agile Market Research Platform

Implementing projects with agile market research using the right tool is practical and straightforward. At QuestionPro, we have created an all-in-one tool that guarantees comprehensive and effective investigation processes.

The QuestionPro market research platform adapts flexibly to the challenges and needs of conducting studies and test procedures and automating your market research processes. The integrated tools are effortless to learn and can therefore be used quickly by inexperienced users. 

With our full service, we also offer you the opportunity to outsource market research projects. This also supports the process of agile market research in the event of bottlenecks.

Advantages of using QuestionPro as your tool for Agile Market Research:

  • Smart question types and predictive analysis

With QuestionPro’s innovative platform for conducting agile market research, you can quickly and easily create market research studies and test procedures with intelligent question types and progressive functions and features in multiple languages ​​and without additional programming. 

The integrated agile market research tools based on artificial intelligence and a predictive analysis engine enable the collection and collection of market data with a choice of over 50 pre-built standard and advanced question sets across all media.

  • Evaluations and analyses at the push of a button

The QuestionPro market research platform offers a complete package of reporting and analysis tools that give you quick insights into your market research data. 

Some examples are advanced analyses, AI-based semantic text analysis, cross-reference comparisons, grouping analysis, Correlation analysis, geocoding, market simulations, dropout rates and analysis, gap analysis, or trend analysis.

With QuestionPro you can easily convert your market research reports into easy-to-interpret, graphically appealing, and prepared visual infographics at the touch of a button and export them into joint presentation formats. 

For further analyzing data, you can export QuestionPro results to various formats, including Excel, SPSS, txt, Dropbox, or Google Drive.

  • Intelligent functions for complex, agile market research studies

QuestionPro’s platform for agile market research offers you a variety of features and functions for high-level market research. 

Use branching logic, scoring logic, variable transfers, question and answer randomization, question block rotation, variable transfers, question extractions, question pre-filling, caching of questionnaires, survey, test chaining and quota management, panels with a one-click integration, and many more functions without any programming!

There is also the option of user-defined scripting.

  • Multi-user environment and simple management of roles and rights for market research teams

QuestionPro’s market research platform offers a multi-user environment that enables companies to work collaboratively within the framework of agile market research. A sophisticated rights and role model manages access at all levels. 

Design a survey or test procedure with several people and determine who may see the evaluations or parts of the assessments. Leverage cookie-based single sign-on capabilities that eliminate the hassle of managing multiple passwords. 

Authenticate your QuestionPro user account with SSO to third-party systems to ensure maximum security.

  • Agile market research with certainty

The security of market research data has the highest priority in market research. QuestionPro is SSAE 16 (SOC 2) compliant, EU and Swiss SafeHarbor certified and fully GDPR/GDPR compliant. SSL for surveys and data is standard, with the ability to add SSO. 

Activate and deactivate public surveys and studies with the click of a button, create password-protected studies and tests or authenticate survey participants and subjects via social media.

It’s possible to prevent multiple filling out of market research studies with anti-ballot box filling and use many other high-end security solutions of QuestionPro. Agile market research also means security when carrying out market research projects.

  • 24 * 7 worldwide “agile” support

Here at QuestionPro, we take our customer service very seriously. We offer live worldwide customer support 365 hours a day, XNUMX days a year. You can always reach us via online chat, email or phone. In addition, we offer you fixed contacts who know your entire customer history and can therefore react quickly to the challenges of agile market research in live operation.

  • Easy integration of third-party systems

QuestionPro offers seamless integration and synchronization of market research data with your existing IT infrastructure such as CRM tools, Salesforce, Microsoft Dynamics, Tableau, Caspio, Google Sheets, and Hubspot to ensure agile market research.

With various powerful software integrations powered by webhooks and APIs, you have perfectly consistent and coherent back-end integration for your data.

Online market research panel

More than 20 million panel members

As a full-service provider for agile market research, we offer an online panel (B2B & B2C), which includes more than 20.000.000 panel members who can be selected according to more than 300 criteria. We also offer a wide range of unique panels.

Fast set-up time and real-time analysis

In addition to a fast set-up time, our professional panel software also guarantees complete control of data quality and data return and, of course, offers you data analysis for agile market research projects in real-time. So you always have access to the results.

“The flexible and responsive project management particularly meets our requirements for the short-term and speed of studies. The quality and proactivity of the project support as well as the speed in the implementation of the reporting meet the highest demands.” –Dr. Josef Köster, team leader for customer segmentation, customer foresight and innovation studies.

Simple sample selection

The sample selection for your market research studies is easy and is based on more than 300 profile data that the panel members provide when entering the online panel. The choice is made quickly and easily with a mouse click using our panel software. 

In addition, QuestionPro has many unique panels for agile market research.

High quality through permanent monitoring

The QuestionPro online panel within the market research platform is subject to permanent quality controls. In addition, QuestionPro has a technologically advanced data quality check engine that reliably detects unfavorable responses. 

New panel participants have to answer a comprehensive questionnaire with data on their living and working situation to be admitted to participate in panel studies.

A community for agile market research

The platform for qualitative and quantitative market research

As a holistic platform for agile market research, in addition to surveys, polls, analysis, and panel applications, we also offer a comprehensive market research community for the acquisition and analysis of quantitative and qualitative market research data.

Advanced technologies and functions

Online focus groups, idea boards, discussion forums, topic boards, event planners, activity feeds, engagement tools such as incentives and gamification are just a few features of QuestionPro’s market research community. In addition, the market research community includes a clear analysis dashboard that gives you comprehensive insights into the virtual community, of course in real-time.

Community app

QuestionPro offers you an app for quick access to the market research community by your community members. Community members receive push notifications about new posts and launched surveys. 

They can quickly and easily create and update their profiles, participate in discussions, write in forums, and participate in online discussions.

Service for agile market research

In addition to mature technology, you also get a high-class market research service! This service covers all phases of market research, including quality control and documentation. 

Get to know QuestionPro as a full-service provider for agile market research! Our market research service can be divided into four areas:

  • Analysis of the current
  • Tool selection, study design & implementation
  • Monitoring & data acquisition
  • Data analysis & documentation

As part of the 1:1 live presentation, you will also learn to get our service and project management for your market research projects.

Conclusion

We call agile market research the process of collecting reviews and comments provided by consumers of a product or service quickly and repetitively. This process uses technology to create, develop, launch campaigns, new products, or growth initiatives.

This agile market research allows testing, learning, and improving decision-making and trust. The agile approach minimizes waste of time and resources, decreasing risk situations and maximizing ROI.

Traditional market research tends to be slower and more expensive than well-executed agile market research. However, it is not a magical solution for cost control, as has been thought in the past; it’s about getting more speed and less cost in a way that’s both effective and efficient.

With QuestionPro technologies, you can conduct agile market research yourself. You can use our service either as an “additional service” or a full service.

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