One of the biggest gaps between market leaders and challengers of all sizes, is the investment that is made in understanding their shoppers, customers, and consumers. Each segment presents different challenges and requires flexibility in designing methods for gaining greater insight into each.
Creating a research program that delivers against business goals and solves the needs of multiple departments requires an expert level of collaboration and cooperation. This program will cross many budgets, but it is not true the custom research must come at the expense of other business requisites. Conversely, a proper research program should be designed to address more needs than just the sales department – this includes product management, finance, operations, or customer service – and the ability to crossover to other departments helps expand the value this program can deliver across the entire organization.
Many manufacturers are limited by the amount of research that they can field which limits the amount of questions they can ask, ultimately slowing the generation of actionable insights. They are held back by the exorbitant cost to field the surveys and the additional charges that are necessary to turn those responses into a useable and actionable selling story.
At L&M, we pride ourselves in understanding the needs of the research and customizing the methodology to maximize your budget, often working closely with some of the largest research suppliers in the world to eliminate any extra charges. The value we add is the combination of research creation with over 30 years of experience transforming those responses into a data-driven, insightful activations that move beyond the surface level and puts our partners in a position to leverage the output exponentially.