From the course: Market Research: Qualitative

Real results from qualitative research

From the course: Market Research: Qualitative

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Real results from qualitative research

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- Did you know that most statistical research is actually less accurate than qualitative studies? Numbers are great, large-scale quantitative studies are fast to implement and they boil down a complex customer into a few pie charts that are easy to grasp and discuss. In fact, most companies perceive quantitative reports as more trustworthy. This is a dangerous mistake to make. If you measure enough variables, there will be correlations. In fact, studies that measure seven metrics will generate 21 possible correlations on average and statistically, one of those is bound to be bogus. What if that one false correlation is what you wind up basing your next big business decision on. Not only that, market research is not a cut and dry science. A customer's experience with your brand is highly contextual and constantly changing. The insights you need to move your business forward often require an interpretation of human behavior. Here's an example. Let's say your analytics show that people are spending a ton of time on one particular page of your site, awesome, right? You must have great content there. Well, it's not that simple. It's true that they could be spending time diving into your content maybe or they could be searching for a crucial piece of information that's missing, getting more and more frustrated with you. Qualitative research takes the what and finds the why behind it. Three types of qualitative customer insights can make a huge impact for your company. First, is customer segmentation, a deep understanding of who your audiences are and which few you will intentionally target. In a recent study I did with retail shoppers, we identified 10 audiences who shopped at the store and called out just three to focus this year's marketing on. The second type of insight is related to content, meaning the topics and messaging and vocabulary, imagery, videos, products and everything else your ideal customer wants and needs from your brand. I've seen companies who come to us for research after wasting tens of thousands of dollars unpaid ad trio and error. I wish that these companies would have done upfront qualitative research to listen to the vocabulary people are using when talking about their brands. Third is the customer's buying journey. This insight is gained through conversation and observation. Companies get to know their customers deeply, empathizing with their emotions, attitudes and behaviors. Qualitative research uncovers underlying opinions and motivations that are driving customer actions. It helps you to spot trends, understand the gaps between planned and actual experiences and identify challenges that you can help your customers solve.

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