Is Market Research the customer expert in your organization? According to our recent research, unfortunately, the answer is no – Market Research represents just 5% of the inputs to customer-related decisions.
Make-Up of Sources that Inform Customer-Related Decisions
With the surge of information sources and constant shifts in customer needs, the way business partners make customer-related decisions has evolved dramatically. Most notable is the speed in which they make decisions to avoid missing key business opportunities.
But this quest for speed causes decision makers to:
- Use less information
- Seek faster information sources, trading off insight quality for speed
To become the business’s customer expert, Research must adapt to their business partner’s new ways of learning and making decisions. Check out our recent article in Research World to learn about a quick-fire synthesis approach that re-shaped partners’ decision making behavior. One team that used this approach went from being consulted on 35% of major decisions to 90%.
MREB members, access the article directly, and check out more details on the case profiles outlined: