Name: Best practices for utilising market research
Uploaded: 2022-02-22T15:10:24.691Z
Duration: 204.27
Description: There is no one-size-fits-all tool, application, or process for any research experience or situation. Market researchers aim to figure out how to effectively lead their clients' best practices. Samuel Bakouch shares four valuable practices that he employs for his clientele.

Utilising market research.vtt

English

{{00:00:08}}
We've been seeing also accelerating
with the pandemic, unfortunately to

{{00:00:25}}
some degree, but leading organisations
constantly and continuously use

{{00:00:31}}
research to reinvent themselves.

{{00:00:33}}
I'll show our best practices from
our perspective and how we help our

{{00:00:38}}
clients reinvent themselves, make good
decisions and stay ahead of the market.

{{00:00:43}}
One is a lot of our clients are testing
different ads, different videos,

{{00:00:47}}
different message, names, packages.

{{00:00:50}}
And we always recommend to include
a competitive message on an industry

{{00:00:54}}
benchmark and not only comparing
against your own ideas or your

{{00:00:57}}
own concept, because you really
want to see how your concepts

{{00:00:59}}
are comparing against each other.

{{00:01:01}}
But you want to really understand
how you're going to end up

{{00:01:03}}
performing in the market.

{{00:01:04}}
So that's what you need to include
some sort of a competitive benchmark

{{00:01:08}}
to be able to make better decision
about what to launch and when.

{{00:01:12}}
That's one.

{{00:01:13}}
A second one is, and that's been
accelerated by the pandemic, but

{{00:01:16}}
that's been the frequency at which you
should track the health of your brand.

{{00:01:19}}
So couple of years ago, we saw
clients tracking their brand

{{00:01:24}}
on an annual or maybe biannual
basis, which is fine at the time.

{{00:01:28}}
But what we realise is you end up
making a lot of decisions based

{{00:01:31}}
on data that is already stale.

{{00:01:32}}
So, in an environment that keeps
changing, you need to be able to create

{{00:01:37}}
more continuous tracking programs.

{{00:01:39}}
We do it weekly at Momentive.

{{00:01:41}}
We see customers doing it monthly.

{{00:01:42}}
You can aggregate your
results quarterly or monthly,

{{00:01:46}}
whichever you choose.

{{00:01:47}}
But we think it's really important
that helps you better correlate

{{00:01:50}}
activities to actual brand performance.

{{00:01:54}}
I'll go quickly, but just to
give you a sense, a third one is

{{00:01:57}}
around the customer experience.

{{00:02:00}}
So we worked with leading organisation
like the Warriors, for instance, the

{{00:02:03}}
Golden State Warriors, and we helped
them measure their fan experience.

{{00:02:09}}
And that is changing all the
time based on fan preferences,

{{00:02:13}}
based on even team performance,
results, energy in the arena.

{{00:02:17}}
And so they build the state of the
art continuous customer listening

{{00:02:22}}
program using our solutions to really
help adjust, iterate, prioritise

{{00:02:27}}
what to do next, to be able to create
the best fan experience possible.

{{00:02:31}}
It's just amazing to see the
impact we have working with

{{00:02:34}}
such cool organisations.

{{00:02:35}}
And the last one I would say is
when you're testing new ideas, when

{{00:02:40}}
you're launching new products, you
always want to make sure you're

{{00:02:43}}
also testing your product, not only
against your prospective customers,

{{00:02:47}}
but against your existing base.

{{00:02:48}}
So you want to make sure if you're
launching a new package, for

{{00:02:50}}
instance, and you're like a large
like CPG company, you want to

{{00:02:55}}
make sure that you're not going to
alienate your own customer base.

{{00:03:00}}
Is it going to be relevant for
customers you're trying to reach,

{{00:03:03}}
but also how's it going to be
perceived by your existing customers?

{{00:03:06}}
So those are common, I would say,
like mistakes that we tend to see

{{00:03:11}}
in the market and that we thought
we would just create those best

{{00:03:13}}
practices to have our clients just
make better decisions overall.

We've been seeing also accelerating
with the pandemic, unfortunately to

some degree, but leading organisations
constantly and continuously use

I'll show our best practices from
our perspective and how we help our

clients reinvent themselves, make good
decisions and stay ahead of the market.

One is a lot of our clients are testing
different ads, different videos,

And we always recommend to include
a competitive message on an industry

benchmark and not only comparing
against your own ideas or your

own concept, because you really
want to see how your concepts

But you want to really understand
how you're going to end up

So that's what you need to include
some sort of a competitive benchmark

to be able to make better decision
about what to launch and when.

A second one is, and that's been
accelerated by the pandemic, but

that's been the frequency at which you
should track the health of your brand.

So couple of years ago, we saw
clients tracking their brand

on an annual or maybe biannual
basis, which is fine at the time.

But what we realise is you end up
making a lot of decisions based

So, in an environment that keeps
changing, you need to be able to create

You can aggregate your
results quarterly or monthly,

But we think it's really important
that helps you better correlate

I'll go quickly, but just to
give you a sense, a third one is

So we worked with leading organisation
like the Warriors, for instance, the

Golden State Warriors, and we helped
them measure their fan experience.

And that is changing all the
time based on fan preferences,

based on even team performance,
results, energy in the arena.

And so they build the state of the
art continuous customer listening

program using our solutions to really
help adjust, iterate, prioritise

what to do next, to be able to create
the best fan experience possible.

It's just amazing to see the
impact we have working with

And the last one I would say is
when you're testing new ideas, when

you're launching new products, you
always want to make sure you're

also testing your product, not only
against your prospective customers,

So you want to make sure if you're
launching a new package, for

instance, and you're like a large
like CPG company, you want to

make sure that you're not going to
alienate your own customer base.

Is it going to be relevant for
customers you're trying to reach,

but also how's it going to be
perceived by your existing customers?

So those are common, I would say,
like mistakes that we tend to see

in the market and that we thought
we would just create those best

practices to have our clients just
make better decisions overall.

Best Practice

There is no one-size-fits-all tool, application, or process for any research experience or situation. Market researchers aim to figure out how to effectively lead their clients' best practices.
Samuel Bakouch shares four valuable practices that he employs for his clientele.

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thumbnail_Samuel Bakouch.jpg

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Samuel Bakouch.jpg

Samuel Bakouch

VP of Product Management & Global Insights Business 

Bakouch highlights the strategic market research methods in this actionable session and discusses how businesses can better contact customers and expand their brands.