Generating Powerful and Actionable Insights
Innovation is not a one-time activity. It’s a continuous cycle as depicted in the Infinity Loop below; one that both established companies and start-ups must consistently engage in, else prepare to get disrupted eventually.
It requires the right insights and then converting them into action. The right insights help you create smoother experiences for customers, address their unstated needs, resolve any overlooked friction points, drop desired features that either increase cost or complexity. When the customer experience is great and value delivered is higher, customers not only become loyal, they become your brand advocates.
There is no innovation without insight.
At BMGI India, we have partnered with several clients using a structured methodology, backed by highly advanced AI-powered visual insights platform – QualSights, to capture powerful insights and turn them into action. Below is a summary of the four stages:
Understanding and defining the business problem, identifying the associated customer segments, the scope of the study and building a Plan to capture the insights. This plan covers various aspects of qualitative and quantitative data collection, the associated means to be used and the resources required to collect the data.
In this stage, we execute the plan and capture the data and observations. The observation study period would typically depend on the means of capturing the data e.g., mobile ethnography, face to face interviews, focus groups, etc and the sample size to be collected.
Process and Prioritize
Here we process the observations gathered using various tools and techniques to generate the insights. This would include creating an Empathy Map to have a holistic view of what the customer experiences and identifying a list of Jobs-to-be-done – both functional and emotional that the customer is trying to carry out. These identified insights are then prioritized for further processing.
Solution Development and Testing
Once the opportunities are prioritized, various solution options are generated. These options are then processed further using appropriate techniques to select the ones to be developed and tested with the customers. Based on the data collected during the testing, the solutions are finalized and launched into the market.
Resources: Article: Compensating Behavior