A new community is born

Market Measures Ltd – 29 October 2018

Source http://www.marketmeasures.co.uk/blog/a-new-community-is-born/

Earlier this year, a new community of highly engaged and responsive customers was born, and it continues to grow, yielding valuable business insights for one of our biggest and best-loved high street fashion retailers.

With a huge amount of data already at our fingertips, one of the key challenges (aside from coming up with a community name!) has been to condense this information into insights that are easily digestible and not lost within the client’s business; it’s not an unusual challenge in research, but one that a research community poses on a continuous basis.

The good news is that through close partnership with our client and senior stakeholders across the business, the benefits from this insight have already been plentiful, including fast-facts for quick decisions, and guidance on larger business decisions that may otherwise have been made without any research at all (and no market researcher wants to hear those words!).

The regular and in-depth findings we deliver also act as a springboard for our client to identify and generate new ideas and topics, thus ensuring a strong pipeline of future research topics - something that is crucial to keeping the panel alive and engaged.

However, this is only the start. Through this online community our client is building an enduring and closer relationship with their customers and can expect to reap the rewards of their investment in the long term as the breadth and depth of the community increases.

And the ROI is definitely on track – if we’d conducted the same amount of research to-date using ad-hoc projects, it would have cost the client twice as much with a longer turnaround time.  As the community continues to grow in the UK and expand into other core markets, so will the cost efficiencies!

If you’d like to find out more about building customer closeness and a better ongoing business understanding through a community, then please get in touch!