Successful product innovation at its best is rooted in consumer insight. Typically, agencies offer workshops to show how to uncover consumer insights that work as the springboard for idea generation of new products.
These workshops are set up to systematically help researchers and marketers gain an overview of the latest knowledge on specific targets and segments based on different sources, such as qualitative and quantitative market research results, trend reports, and the like.
This knowledge is then consolidated, discussed, and deeply analyzed to reveal the underlying values and needs of consumers. These values and needs are the basis for insight statements that summarize consumer understanding in a straightforward, consumer language-centric way. The outcome should be a statement that makes consumers think: Wow, they almost understand me better than myself!
When this is achieved, the strongest insight statements – ideally, confirmed through quantitative and qualitative research – can be taken into creative sessions to come up with new product ideas.
This process – which seems relatively straightforward at first sight – requires lots of preparation, and for workshop participants to do their homework. This includes looking through existing knowledge, thousands of pages of documents, and research reports to find bits and pieces of information to explain trends in consumer behaviour. For busy and time-pressured researchers and marketers, this is a huge investment.
To help with this preparation, try a different approach to structuring existing knowledge and insights available in your company. Make knowledge and the answers to certain business questions more available by working with searchable findings. The idea is simple:
…and you can easily search for answers across all of your different market research projects without reading through all those report pages. For example, if you are interested in knowing everything your company knows about “gifting for holidays”, you’ll quickly find and understand all key outcomes across different studies and markets that refer to your search.
This is just one way of restructuring your market research knowledge that can help save valuable time and money.