Make conjoint the rule not the exception
It’s not a matter of If anymore, the key to success is How Often and When you conjoint
The marketplace is moving at an increasingly frenetic pace. Grappling with the onslaught of new applications and devices – both disruptive and complimentary, is aggravated by competitive threats from every direction. It can feel at times like being under a daily assault. To stay in the game marketers must translate how all these new stimulants will impact the market at least as fast as anyone else. Faster if they want to win.
Conjoint analysis is without doubt the research technique needed to decode all the noise. But experience suggests it can take a market research agency several months to turn around a conjoint survey. Two months is an eternity in most sectors. By the time the survey is created and distributed, answers gathered, results analysed and reports generated the market has moved on and any insights gained have most likely become redundant.
Imagine if you could run a conjoint survey, digest and interpret its results, and generate actionable insights within the same day?
Ever wonder who could be talking to your customers behind your back? Could competitors be getting to know your customers’ preferences better than you? Are your customers sharing their likes and dislikes with other brands? How often could competitors be conjointing your customers – once a quarter, every month maybe? Could these brands be taking a larger slice of the pie because they are asking your customers the right questions more often? If you are not having a continuous dialog with your customers, checking in with them on a regular basis to ensure your products remain relevant, your brand risks falling out of favour quickly.