Product Market Fit for a Shifting Marketplace
July 27, 2022
Product Leaders are facing a rapidly changing marketplace and traditional means of learning are outdated. We are looking to understand how product lea... See more
Executive Summary
Research Learning Tools play a critical role and will continue to evolve
- There are key drivers, obstacles, and future opportunties for Research Learning Tools usage
- Drivers and obstacles for RLT's leave room for optimization based on business objectives and emerging technology tools
- Leadership needs to embrace the use of RLT's and follow the leaders who will provide futuristic/enhanced tools to make learning easier and faster
Theme Content Brief
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keyboard_arrow_down Top Drivers
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format_quoteThe first leap into Research Learning Tools will require a committed investment, typically promoted by a knowledgeable practitioner. Without this push, the force of inertia can exclude any fresh thinking.
By: Kevin O'Donnell
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format_quoteA very specific and honed topic can bring scads of great information assuming you carefully watch and monitor the entire process. You can start at point A, with a specific idea in mind for the end result and end up with tons of new topic points that you hadn't thought of prior.
By: Rob Patey
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format_quotethe faster you can roll out a location, a product, or an idea to market, the more likely you are to beat out the other competition. Tools can help make us faster, especially when they assist with doing the thinking for us.
By: Shannon M. Hunihan
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format_quoteresource management. Instead of hiring a human, they are deciding to outsource to a vendor or a tool. It allows for thinner teams, and maximized productivity.
By: Shannon M. Hunihan
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format_quoteRLTs help facilitate the quick and effective validation of these assumptions before the product hits the market. This enables companies to course correct the product direction while it is still cheap.
By: Panagiotis Goros
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keyboard_arrow_down Obstacles
2
format_quoteEven with a platform like Currnt, there is a fair amount of upfront work that must be put into the themes and sub-questions to elicit great responses. And often the best responses come from a back and forth conversation based on panel responses. It's a garden that needs constant tending
By: Rob Patey
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format_quoteYou have to be very careful on what are you asking customers because a wrong question will lead you to wrong actions. if you are not careful on how you set up the survey will make the survey taker to just answer anything so long as they can finish the survey. This can lead to wrong data collected.
EditedBy: Jorge Arce
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format_quoteIt’s important to listen to our customers, but yes, it takes time and it’s costly. RLT can def help with that.
By: Rosaria Oliveira de Freitas
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format_quoteThose companies who need data fast and that want to build proper forecasting are definitely resisting RLTs. The problem with RLT relies that these methods gives you data and insights of what has happened, but not of what will happen.
By: Jorge Arce
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format_quoteProduct VPs who would rather push their own agenda than a product that their customers need.
By: Rosaria Oliveira de Freitas
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format_quoteFor companies to embrace and invensting in RLT, syndicated data, or other research, they must have the people in place on their teams to use the data and translate it into meaningful strategies.
By: Aubrey Zobrist
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keyboard_arrow_down Trends & Emerging Technology
2
format_quoteThere are two main avenues of research for information. Direct customer observation and technology searches. Where a directly observed problem can be solved with a new technology we have a new product or business.
By: David Tigay
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format_quoteAvailability of internal and external data related to products/service/custmers brings new tech eneabled opportunities:
Edited
- AI prediction/insights
- new tools to extract from social networks trends
- new start-ups with specific solutions for researching the marketBy: Marzio Alessi
2
format_quoteAs SaaS becomes a common model in the digital space, Design Thinking has become more popular as well as companies realize that in order to achieve product / market fit out the gate, they need to iterate in a manner that allows them to get customer feedback quickly.
By: Lulu Lin
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format_quoteAs organizations and their products become more iterative and agile, I can see reliance on tools expanding... as releases become more frequent, there is a desire to "fail fast", and confirmation of feature success and return on investments is desired.
By: Jonathan Ralton
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keyboard_arrow_down Opportunities
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format_quoteUltra transparent market competition can lead to homogenous approaches for strategies among rival companies in pursuit of a competitive edge, RLT's can offer fresh thinking, bespoke insights and key analysis, which enables savvy companies to devise novel, solutions for challenging problems.
EditedBy: Kevin O'Donnell
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format_quoteIt is the leadership role to see the long-term value of the research and find the opportunities lied behind the research. Also, with the availability of new tools, it should be easier for companies to set their research objectives
By: Shady Ramadan
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format_quoteResearch and tools for each stage of product development and innovation can vary:
Edited
Data/Information - desk based research, data mining, data analysis
People/Insights - user testing, user interviews, focus groups, networks
Physical /Build - R&D., lab/workshop based experimentation, prototypingBy: Nikki Matthews
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format_quoteTools like hootesuite can provide foundational information to better inform your RLT engagement. Instead of relying on your own (or your clients) ecosystem of ideas, pulling your impetus from existing chatter - it can help show you're already thinking in customer voice vs. internal chatter.
By: Rob Patey
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format_quoteLaunches of new products, re-launches of cost reductions, moving to a superior performance against competition, all can only be done with consumer testing. Ideally accompagnied by a trained sensory panel that helps R&D understand the perceivable differences between products.
By: Josef Z
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format_quoteesign Thinking has become more popular as well as companies realize that in order to achieve product / market fit out the gate, they need to iterate in a manner that allows them to get customer feedback quickly.
By: Lulu Lin
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format_quoteIn online communities, you can post a Checklist or Survey to gain instant feedback. You can also hold live events: Digital Live Events, Email Outreach, SMS/MMS Outreach, Ringless Voicemail Drops Outreach, Voice Broadcast Outreach,Virtual worlds and Messaging Chat Groups.
EditedBy: Henry Skull