RESEARCH FOR INNOVATION
Understand your market
Research for innovation
Great! You have the ideas but you realize you only know that much. More specifically, you don’t really know whether customers will also like that fantastic idea you have. If yes, which customer exactly? Is the market potential of that customer segment high enough? Is the market crowded for your solution or do you see a clear gap? Will a customer be willing to pay for your solution? And we can go on like that…There are so many things to figure out and you will need to start gathering some data to make choices.
It is time to listen to the voice of the customer, to scan different target markets, to better understand the market in which you want to operate. We will help you gain insight into all of the above-mentioned questions by helping you with targeted research that serves your idea. Typically, we help you by doing qualitative research (interviews, focus groups, …) as well as desk research (target market scanning, competitive analysis, benchmarking studies, …). We won’t build the case for you (because we sincerely believe you can do that yourselves), but we will make sure you have relevant information for your project which will increase the chance of success.
How will our research for innovation help your organization?
Your innovation teams will have a clear research plan built together with our researchers
Your teams can make the right choices based on our insights
Your innovation team will get customer insights delivered to them which are relevant in function of the innovation they want to launch (no general market studies)
You will be sure your innovation product/service has features that potential customers value as we will use state-of-the-art methodologies to gain customer feedback
Your management will feel more convinced and committed to the decisions they make as there is evidence of clear customer interest
What can I expect when MTI² does research for innovation with us?
Phase I - Research day
We will start by organizing a 1 day customer research workshop with the innovation teams (can be more days depending on the needs of the team). Participants can be 1 innovation team but just as well up to 10 innovation teams.
During the research day, we provide your innovation teams with a researcher from our team (who has credentials in marketing as well as innovation) who will work with a bundle of research hours (the amount of hours is to be determined together with you) for each of your teams.
Phase 2 - Deep dive customer research
After the research day, our researchers go to work engaging in research thanks to the identified questions during the research day. In terms of desk research, we for example help teams with research and support in areas such as market potential estimation, customer segmentation and validation, competitive landscape and differentiation, and business model benchmarking. This allows teams to build a solid case.
We also assist clients with co-designing and co-assessing customer research. We bring our expertise in, for example, running surveys and conjoint experiments. Through conjoint experiments we are able to estimate psychological tradeoffs that customers make when evaluating several product features simultaneously. Conjoint experiments allow us to uncover real or hidden drivers of purchase intent that may not be apparent to the respondent themselves.
We also provide teams with tools to conduct in person customer research and capture the most important information. This information can be combined with desk research to provide a better understanding of customers. Teams can apply our tools and templates, for example, for need finding interviews, jobs to be done, customer personas, and customer journey mapping. Having the tools at their disposal allows teams to gather more insightful information on the customer and apply it to their ideas more successfully.
Phase 3 - Research iterations
Your innovation teams will interact with our researcher on a very frequent basis (our research iterations) by phone and/or email (dependent on the timeline, this can be every day, or every 2 days or every week) to ensure insights are being transferred to the project team. Our researchers act as a coach to help your innovation team apply the insights.
Phase 4 - Delivery customer insights report & transfer research insights
Our researchers also provide a report in which they summarize the important insights and clearly indicating how that insight is useful to their business case.