Most product launches fail because companies don’t do enough research up front. If you are going to launch a new product, you need to conduct qualitative market research. Qualitative market research asks open-ended questions so people can tell their stories in their own words. Traditional methods used to collect data include field observations, personal interviews and group discussions.
Qualitative market research helps business owners identify customer needs, clarify marketing messages, generate ideas for improvements of a product, extend a line or brand, and/or gain perspective on how a product fits into a customer’s lifestyle. By asking smart questions business owners can begin to understand their customers’ or clients’ feelings, values, and perceptions of their products or services. Once you know the reason “why” people react a certain way or make certain decisions, you can use that feedback to help build your sales and marketing strategy.
5 Steps to Collect Qualitative Market Research before a Product Launch
Thanks to the internet, conducting qualitative research doesn’t have to be expensive or take a lot of time. Here are 5 steps you can follow to get the information you need prior to launching:
- Employ a hybrid qualitative and quantitative research platform: These are web-based tools like DynamicInsights which allow for questioning and real-time probing. This will give you a wide audience and lots of data to form your product idea.
- Announce your product idea on Facebook: Once you have a good idea of the greater market and their needs, you can zero in on a few hundred or few thousand people via Facebook or an online chat group. Tell your users what you think they want and let them prove you right or wrong with their feedback. Use Facebook continually throughout your launch to test your ideas and provide teaser campaigns to generate interest.
- Set up a bulletin boards/forum: This is great for busy executives who don’t have time to engage in a discussion. Here they can log in and follow the threaded discussion and give their viewpoint. Within days you should have comments from approximately 30 participants.
- Send your audience to a test site or test campaign: With real-time technology you can monitor user behavior to see where they click on your site and how they react to advertising or marketing campaigns.
- Get your consumers into a structured online focus group: Napkinlabs.com is a new site that helps companies funnels followers from Facebook and other social media sites into a more intimate, more structured online community. Here your fans can share experiences, insights, stories, ideas.
Before you launch any product, conduct qualitative market research. You can do the job yourself online, or you can ask us at Research Optimus to help you design and deliver the data you need to make a successful product launch.
Talk to our “analyst on hire” today to learn more about how we can help you achieve your goals.
– Research Optimus