Iterative market research can provide the foundation for a brand’s ability to stay ahead of the next trend and seamlessly weave itself into the cultural tapestry. Consumers demand agile and dynamic responses from brands, and hitting the correct timbre with your message is imperative to gain maximum virility. Quickly fielding an urgent business question or finding a new way of phrasing a benefit can mean the difference between hitting that timbre or falling flat.
In reality, endless hoops make getting that research out the door time consuming and exhausting which often means too few insights, too late. Today’s fast moving environment and impermanent trends will not wait for a wet signature or a tangle of email approvals. Outlook inboxes just aren’t designed for approval management and version control – no matter how organized your folder system is. What’s more, emails are tricky to track, trickier to file, and even trickier to track down and produce in the event of an audit.
How then do researchers overcome these pitfalls and execute iterative and efficient learning plans? Some of Market Logic’s pharma clients have implemented a research management tool that includes a transparent, well documented approval system that mirrors existing research processes, cutting time to approval by as much as 88%.
Our pharma clients have seen the following benefits after implementing research and approval management:
The key is to not just think about an approval processes but the research processes overall – harmonizing and standardizing how all your processes fit together is where the measurable difference begins to take shape. When you tackle supplier selection and supplier roster management, study document approvals, cross-functional alignments, key insights capturing, and a maintenance of a final report repository with one system, the efficiency you gain is phenomenal.