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Savanta

Savanta offer best in class B2B & B2C Market Research services across the UK, US & internationally. We can help your Company Make Better Decisions, learn How.

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Beyond the essentials: here’s how to be confident in your decision making

August 11, 2021

If you’re experiencing stretched marketing budgets and research cutbacks, you’re not alone. Julian Dailly, evp at Savanta, explains how you need to build knowledge quickly and efficiently to make business critical decisions in the current climate.

Covid-19 has and will continue to have a dramatic effect on consumer behaviour as lifestyles remain in a state of flux. As a result, business models are having to adapt ever more rapidly to the changing environments in which they operate.

A recent Savanta survey, in association with Next 15, highlighted that just 15% of brands say that their business models will remain the same over the next 12 months, with one in five saying that plans will change dramatically. These changes in business models are not just centered around ways of working, a key transformation is how brands take products to market, where 36% believe there will be significant changes. Ultimately, how businesses reach their customers has and will continue to be a major challenge for brands going forwards.

It’s these changes, in the way brands engage with consumers, that make the value of research even more important. Our recent Intelligence Capital report (launched alongside the Market Research Society (MRS) in May), revealed that 61% of insight professionals from client-side organisations believe that insight rarely feeds into strategy. In addition, only 14% think that data and insight results in action based on evidence. The stark results should be a major concern for brands.

Commissioning research is often overlooked as a means to help inform decision making, due to other budget priorities, but unfortunately this can be a false economy. To avoid losing out on a key opportunity to make better decisions, a change in mind-set is needed to ensure research is central to driving strategy. This has never been clearer than at the present time where an understanding of changing business models is urgently required.

Whether it’s to retain a number one status or survive in-market, brands have a constant need to innovate. And whether you’re a marketer, brand manager or insight professional, the need for quick answers to understand consumers’ emotional engagement with your brand’s products or services is vital. If you’re at the ideation or innovation stage, honing the perfect proposition, understanding consumer needs or a gap in the market, there is a need to be informed, quickly and with minimum expenditure, to facilitate the decision-making process. However, in the current climate, activities may not warrant (or more often budgets don’t allow for) a full in-depth evaluation.

Introducing Savanta Essentials:

During this disruptive climate, when the only certainty is uncertainty, how can brands use insight to be extra-agile without over committing time and money to individual insight projects? The answer: Savanta Essentials.

Savanta Essentials is a suite of tools we designed to provide a cost-effective approach to research. It provides a standardised offer, using pre-scripted questionnaires to ensure quick access to consumer panels delivering actionable findings, combined with benchmarked data, within as little as 24 hours. Tools include:

Brand tracking: A robust brand tracking solution that delivers a deeper understanding of your brand’s performance relative to competitors, to identify strategies for growth and optimise its position in market.

Concept testing: Evaluate, optimise, and prioritise concepts by identifying strengths and weaknesses, to determine winning ideas, maximise launch and in-market success.

Pitch Winner: Capture the emotional responses of your target audience to proposed creatives and ideas; use the key insights to support/enhance proposals and increase your pitch success rates.

Campaign evaluation: Identify which platforms are over or under-performing comparative to spend, by understanding the contribution any marketing channel has on brand metrics and KPIs.

Creative testing: Designed to prove your creative works before you release it, with fast testing across target markets.

Employee Experience: Created to help build and test effective strategies that drive employee engagement and retain top talent.

Stakeholder Perceptions: Developed to understand sentiment and priorities to build effective stakeholder engagement strategies.

The key benefit of Savanta Essentials is that we do the legwork. We build a research toolkit that suits your needs, using quality data and methods, in no time, without breaking the bank.

For more information on how our Essentials range can help you please get in touch.

By Julian Dailly, evp consumer, Savanta

Tags

Data analytics
research
Brand
Brand Tracking
creative
Creative Testing
Strategy
Campaign Effectiveness
Concept
Concept Testing
audience
insight
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