Three Market Insight Developments for 2024
The Market Intelligence team at C+C is constantly looking for ways to improve our research process to provide our clients with the high-quality insights and actionable implications they need to succeed in an increasingly dynamic environment. We focus on learning how emerging trends and technologies may impact and strengthen our research and bring them into our process.
Following are three invaluable additions to our practice that will enhance the speed, consistency, and quality of our work. We believe every market intelligence team needs to ask how they are improving in each of these areas.
Enhanced Language Capabilities
Conducting research only in English limits findings and overall impact. Representation isn’t a trend — it’s about taking the right steps to ensure our research is inclusive and make sure our results are accurate and representative of our priority audiences. For years, we have worked closely with our in-house multicultural team to ensure we are transcreating – not just translating – our research guides, surveys, and any research stimuli. If there is a language need outside our skill set, we have a network of partners who speak over 17 languages to ensure nothing is lost in translation. We are working to expand that further to make sure we provide the most comprehensive and accurate insights.
Increased Speed and Agility
Things are moving at a record pace these days and the research cycle needs to accelerate in order to ensure the most recent data is used to help inform decisions. In 2020, C+C created its own Market Research Online Community (MROC) ready to get insights on a priority audience, understand barriers and motivators, and test messages and creative concepts. We recently expanded our community to include respondents from across the country. We have developed robust profiling data on each respondent and have multiple ways to communicate with our members to recruit participants in a matter of hours – not days – and meet the real-time research needs of today’s environment. Additionally, we have over 10 activity types available on this platform to ensure we can handle any research objectives.
Responsible Artificial Intelligence (AI)
I don’t think there is a company out there that isn’t talking about AI. AI has endless possibilities and there is no way to ignore its potential. Here at C+C, we are looking for ways to utilize AI to speed up and improve our analysis process, while maintaining data security and integrity. In Q1 2024 we will launch an embedded AI API to help aid open-end analysis. This allows our team to spend more time uncovering the key findings and implications of our research.
What are other trends and technologies is your team is putting into practice in 2024?