Furthermore, the websites make it easier for customers to find the products they require without much scavenging. You may also reach out to Guidepoint, allowing our teams to connect you with our global network of more than 800,000 subject matter experts who can offer immediate and accurate value-added information exclusively for your project needs.With online sales gaining popularity, tech companies are exploring ways to improve their sales by analysing customer behaviour and gaining insights about product trends. Using the right mix of these strategies can create the most complete picture possible to inform your business decision. You can also engage a team who can support your projects from kick-off to execution after spending time to onboard them.Ĭompanies may use more than one of the above-mentioned resources to gain critical insights.
Paid Consultants Where: global or local consulting firms When to use: If budget allows, business consultants can offer highly customized reports as well as recommendations specifically tailored to your unique situation. Gaining the ability to ask specific questions or validate hypotheses may enable you to capture new ideas for innovation and uncover interesting territories for further exploration.Ħ. Expert Networks Where: Expert Network Service Providers (such as Guidepoint) When to use: Conducting primary research by speaking with leading industry expertsallows you to go beyond surface-level information and deep-dive into the topics you care about most. Better understanding of buyer personas gained from your sales teams can be leveraged to predict how clients would possibly react to new products or services.ĥ. Internal Resources Where: CRM, business development teams When to use: Many companies are surprised at the depth of insights available from deep analysis of owned customer data. Be mindful that markets are evolving quickly, especially in the technology field, so make sure the reports you are purchasing are the most up-to-date and relevant to your research topics to avoid wasting time or money on irrelevant information.Ĥ.
#Gaining insights free#
Market Research Reports Where: reputable market research firms or syndicated data providers When to use: Available information is usually much more specific and insightful compared to free resources. Market Data Where: big data companies, specific industry or niche-market data providers (such as Guidepoint Qsight) When to use: This may work best when corporations have already set up their own data analytics systems or models, to aid in kicking-off backtesting and generating predictive reports.ģ.
Free Resources Where: government statistics, trade- and industry-organization data or publications When to use: As available information or data is usually broad and generic, it may be best suited for when outlining a macro-economic background as an intro to your development project.Ģ. Companies typically rely on these 6 common tools to facilitate their market research and development process.ġ. No doubt, corporations will continue to research market trends and uncover hard-to-get information to empower better decision-making. Leading companies spent around 4.5% (2018) of their yearly revenue on research and development, and the numbers keep rising, according to the PwC Global Innovation 1000 Study.
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