People no longer want to be treated as just another customer, now they are looking for personalized experiences that respond to their concerns and needs, and the companies that understood this are seeing the benefits.
According to Zendesk’s CX Trends Report, consumers increasingly value experience to the extent that 70% of them spend more with companies that offer a seamless, personalized, and integrated process.
To reach this level of personalization it is vital to know the customer: interests, habits, needs, environment, etc.; Correct profiling can make the difference between the success or failure of a product or campaign. Achieving this requires an in-depth analysis, which is provided by a market study and qualitative and quantitative research.
Through this type of research, a company is responsible for collecting all the information necessary to fully understand its target audience, as well as the environment, which can lead to the development of strategies according to the needs of the market.
There are two types of market research that, depending on the objectives, companies can carry out: qualitative or quantitative market research.
Know the why behind your consumers
Beyond measuring a qualitative research seeks to describe or interpret. It is here where specialists discover motivations, feelings, perceptions regarding a brand, product or service.
This type of research is often carried out in natural settings, so that you can get a real perspective on what people think, feel or act. In addition, they require first-hand observation by researchers to analyze behaviors.
Among the tools used for this type of analysis are:
- interviews
- Focus groups
- case studies
When to use it? To find possible problems or areas of opportunity, as well as go deeper by giving an explanation and meaning to the numbers or trends obtained in a quantitative investigation. It is usually an initial step of the market study.
Facilitates data-driven decision making
quantitative research It is the collection and analysis of numerical data that not only allows obtaining graphic results or predicting trends, but also contributes to making informed decisions.
To achieve this, representative samples of the audience of interest are taken to whom the different techniques for obtaining information will be applied, such as:
- surveys
- Questionnaires
- voting
When to use it? To validate the initial hypothesis of the market study, generate generalized results or obtain information from a broader universe of people.
Knowing your customers is essential to offer them the products or services they are looking for. Use quantitative or qualitative market research so that your decisions are based on a deep understanding of people and their environment, which will give you a better chance of implementing successful strategies.
Daniela Ramos Communicologist and mom. With 10 years of experience, I have been able to tell stories related to business, personal finance, work culture, entrepreneurship and technology.