Episode 87 - Should your Brand Invest in Consumer Research?

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  • 10/4/2018
    On this episode of thunder::cast, we’re discussing research, the voice-of-the-customer, consumer insights and how this information can help brands better understand their audiences. Listen in and thunder::cast host, Craig Israel, and Jeff Hyde, Managing Director of Ideas in Focus, discuss how middle market companies can get started with consumer research. 

    What You’ll Learn in This Episode

    • How consumer research as evolved over the years
    • What process researchers take to uncover key consumer insights
    • The types of research methodologies used to pinpoint customer pain points

    Episode Quotables

    “We don’t have a specific niche, because we take the approach that regardless of your business, your industry, or what you’re doing, whether it’s nonprofit, for profit, B2B or B2C, at the end of the day your customers are all people. Our focus is really on trying to understand insights about people.”
    “The world is always changing, so we need to be able to keep a finger on the pulse of what’s going on with that consumer and not only know what they’re doing today, but really be able to keep an eye on how those trends are shifting and what people are doing. It’s about how we can learn about things happening in one space, and how we might apply that to another.”
    “It’s a lot easier to decide what you’re going to do when you know if things are going to be good or bad. It’s when we’re in that murky middle that things become challenging, because you need to understand ‘How do we manage all these different dynamic forces?’”
    “At the most basic level, there’s the qualitative and quantitative. Qualitative is going to get at why. It’s more subjective and more personal. This might include things like focus groups, interviews or intercepting people on the street. The quantitative side is the what. That’s where we’re gathering more facts, get a larger sample size and ask questions that tend to be more matter-of-fact.”
    “We’ve realized over the years that even though surveys can be a pain, we get asked to take surveys all the time. We might have a negative impression of the person who calls on the phone and wants to ask you a few questions, but at the end of the day, your customers like it when you want to know what they think and feel. They appreciate being asked and there’s value in that.”
    Learn more about the work Ideas in Focus is doing to leverage the voice-of-the-customer by visiting their website.

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