Companies don’t have to look far for market research these days. In fact, most organizations are inundated with such data—operational intel, customer profiles, employee experiences, and more can all be harnessed in the blink of an eye. However, as good as it is to have all this info handy, it also presents a new challenge: making effective stories of it all.
Today, we’re going to provide a quick rundown on how your organization can carve effective, powerful stories out of your market research data, starting with four specific steps.
How to Turn Market Research Data into Stories
Step #1: Understanding
This step takes place before your research study even starts. It’s common for companies to begin a general study and just try to gather what’s out there, but taking time to understand pain points, stakeholder interest, and other areas of context will make your market research, and thus your stories, much stronger. In short, understanding business objectives and research needs is a must before starting any study.
Step #2: Planning
Designing with the end in mind is vital to any market research study or experience program. Establish every step of your study from beginning to end, and work with your team to figure out how the information you collect will help meet brand objectives. It’s a lot of legwork, but it will make your sampling frame and survey instruments not just better, but more intentful.
Step #3: Discovery
The discovery step is where your brand can start making stories out of its gathered data, and you’d be surprised how many organizations overlook doing so! You may dread the thought of sifting through a giant mountain of study reports, but the good news is that with discovery, you don’t have to. Rather than dive in headfirst looking for a story, work with your team to establish the story you need your research to tell first. Agreeing on that story before you sift will save you time and, frankly, result in a better narrative than whatever you might happen to find in that data mountain.
Step #4: Communication
This step is where your market research needs to stick the landing, which makes it the most important part of this entire process. Effective communication isn’t ‘just’ important for creating better customer experiences—it also helps your team justify your entire market research effort to the boardroom and build that connection to your business objectives.
The Next Step
Following these steps will make your market research both simpler and stronger, but how can your team best proceed from there? Click here to read our eBook on this subject, where we take a deep dive into the wider world of communicating powerful, effective stories with your market research!