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For today’s life sciences market researchers, actionable insights are both the number one goal and the number one challenge.
The most recent Greenbook Research Industry Trends Report (GRIT) asked survey respondents about the most important factors for a project’s success. For research buyers, it was about having a clear linkage to business objectives, delivering recommendations that drive the business, providing a focused story, and executives being able to implement action based on the results.
Clearly, actionable results that lead to business impact are top of mind. It never feels good to launch an ambitious research project, only to have it sidelined by irrelevant results or unconvinced decision-makers.
One key to this dilemma is iterative research. Today’s automation tools have iteration at their heart—in large part because market research tech startups developing these tools are building flexibility and modular design into their products. Agile project management and innovation—already in the DNA of many of these startups—also help.
These new technologies have revealed a new paradigm for fast, iterative market research that lets you act on insights more quickly and make impactful decisions in real-time.
Here are three instances of when an iterative approach comes in handy:
Iterate within long-term studies
Iterate upon short-term studies
Let’s explore the feature of “follow-up crowds” a little more. Some platforms allow you to go back with any of the above scenarios to the same group of respondents, or exclude previous respondents and create a fresh target audience.
Think of this example: you launch a quantitative survey and one-third of respondents give an answer you don’t quite understand or that doesn’t match your assumptions. You use iterative survey technology to go back to those one-third of respondents with follow-up questions (through either a qual or quant survey) to get further clarification, and you get those responses back within hours.
Iterative research like this is all about continuous learning and actionable insights. It helps convince colleagues and decision-makers about why changes to, say, a product launch message, need to be made. And it keeps you more in touch with customers and respondents as they go on their journey with your product.
We’d love to show you how physician answers are collected quickly, exceed traditional market research standards, and provide actionable insights.
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