The pandemic has presented a unique challenge for market researchers, forcing them to adapt quickly and efficiently to a rapidly changing environment. As businesses face economic uncertainty, real-time and accurate insights have become more critical than ever – highlighting the need to invest in restech (research technology) to remain competitive.
Market research technology is a great way to ensure that your research process is up to date for the current insights market. With an ever-changing customer landscape, restech solutions help you gather agile and actionable insights to drive business growth.
Nevertheless, it’s important to keep in mind that these solutions should be able to meet your project needs, provide accurate results, and be easy to use. Here are some valuable tips to consider when integrating restech into your study.
Tips for Adopting Technology in Market Research
1. Determine if the Technology is Fit for Purpose
While the prospect of using new, innovative solutions sounds promising, your research objectives should always be the top priority. To identify the most suitable approach for your study, define your objectives and the capabilities needed for project success.
Afterward, you can research, test, evaluate and choose which methods or technologies are compatible with your needs. This process can be repeated until you have found the proper approach or mix of methodologies.
2. Communicate with Your Provider
Establishing common ground when partnering with a restech provider for your research project is crucial. These companies focus on the length of client relationships (e.g., yearly subscriptions). At the same time, researchers care more about sample size and operational costs – thinking of market research technology on a project-by-project basis.
This dilemma puts vendors and client researchers at a crossroads. When communicating with your tech provider, it’s important to understand the tech company’s model and be thorough in your expectations.
Here are some helpful points to consider:
- Assess the provider's level of expertise and experience (e.g., years in the industry, client testimonials, case studies, similar projects)
- Discuss project timelines and backup plans if the project doesn’t go as planned
- Ask about the services offered and the costs associated with them
3. Get Dedicated Support
The right technicians and customer success teams can help bring your consumer insights to life. When operating new research technology, you’re likely to encounter unforeseen problems, such as technical issues or breaches.
For this reason, you must ensure that your provider has invested enough in customer success. They should be able to respond quickly and accurately to your questions and provide helpful guidance and assistance when needed. Having access to a reliable and knowledgeable support team can make the process of using research technology much easier and more efficient.
4. Set a Budget
Research projects are often costed by classifying all expenses as direct costs, then adding a services cost on top to arrive at a profit. However, restech is an enabler that allows you to perform tasks exponentially – it is not a direct cost.
If you employ the conventional costing model as an agency, it can lead you to overcharge and eliminate yourself from the running. Even though your initial project will have a steep learning curve, technology will gradually become more efficient and help you save resources.
5. Identify Liability for Technology
When handling customer data, be aware of who will assume liability of the technology. As the researcher, you’ll have to navigate this conversation with your client and the tech vendor.
When determining liability, it depends on the specific situation. Typically, the service provider is responsible for ensuring that the market research technology is up-to-date, secure, and compliant with industry regulations.
The client is responsible for providing accurate information and for the collected data. Finally, the researcher is responsible for interpreting the data accurately and for any decisions made based on the project. Ultimately, the provider, client, and researcher must work together to ensure the technology is used ethically and responsibly.
6. Take Small Steps
Even if a piece of technology seems to be an exciting addition to a study process, you should always be careful when integrating it into your project. Expanding the use of restech is more daunting than it appears unless you have sufficient developer support.
Conduct a limited number of small experiments first before broadly implementing a new tech solution. This helps you validate new use cases to determine if the technology is compatible with your existing systems and infrastructure. By taking the proper precautions and being mindful of these considerations, you can ensure that your research project is successful.
Leverage the Capabilities of Restech with Civicom® Marketing Research Services
Civicom® Marketing Research Services is the global leader in providing restech solutions for your market research projects. Our services include online IDI and focus group facilitation, a mobile insights app, respondent recruitment, a curation tool, and other solutions that will cater to your research needs. Get in touch with us to learn more about how we can help you achieve project success.