Assessing customer needs and competitor product issues quickly and cost-effectively
A mobile handset manufacturer wanted to manufacture a product that would allow easy device transitioning. Before getting into intensive R&D for the product, they wanted to gain a quick understanding of the most common data transfer issues that the customers of competing mobile handset models were facing and talking about.
ValueNotes harnessed web 2.0 mediums to get a quick pulse of the target market
We identified official mobile manufacturer forums and other message boards that focused on mobile phones. The manufacturers provide troubleshooting to customers through online forums. Individuals offer suggestions and solutions to each other on message boards.
These online interactions were mined. All the key issues were listed and their prevalence was gauged by the number of times they were brought up by customers.
This approach was efficient in terms of both, time and cost, for doing a limited preliminary dipstick study. A traditional market research approach (though more reliable) would have required a longer timeline and greater resources to first identify customers who had transitioned to the particular competing models, and then survey a sufficient number of them.
Quick actionable insights = Rational decision-making = Improve ROI
ValueNotesâ€™ research provided the client with the following inputs that shaped its future market penetration strategy:
The company was able to get a quick overview of the top complaints/issues faced by customers in transitioning to specific competitor models. This was a valuable input for further R&D on device transitioning and product development.