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Product Leaders are facing a rapidly changing marketplace and traditional means of learning are outdated.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 Tool - Hot Trends Abound - for Capturing Voice of the Consumer
- Leaders are looking for enhanced Research Learning Tools to keep up with market speed & demands
- There is desire for cost effective tools which are: easy to learn and use, provide quick access to data, offer data visualization, and help with analytics to uncover insights
- There is demand for quality tools which are: scalable flexible, modular which can reach a large or targeted sample and can be integrated with other systems
- Optimal VOC tools will have two way communication, to let consumers know their voice has been heard
Theme Content Brief
Audience
Innovators for Research Platforms
Title Suggestion
What does the future have instore for Research Learning Tools?
Angle
Next Gen Research Learning Tools will be easier to use and provide more features
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keyboard_arrow_down Trends
8
format_quoteCompanies who succeed will be the ones who ruthlessly retire old assumptions. Think of all the things we 'knew to be true' before Covid. Now, reimagine all those beliefs in this post Covid world. Companies who adapt and accept change the quickest will be the most successful.
EditedBy: David Tigay
4
format_quoteEase of interaction and offering customers a range of options to engage is key. Users have preferences based on their digital maturity and to reach scale, you need options. Introduction of gamification encourages people to engage and come backvia different options, badges,awards. leader boards etc
EditedBy: James Monighan
4
format_quoteNo/Low Code: Offer templates and drag and drop tools built into your app, connect databases and build analytic dashboards. Automation: with real time data and support of AI/ML, automation provides customer journey's based on behavior. Real-Time analysis: Purchase data and uncover purchasing behavior
EditedBy: Shady Ramadan
3
format_quoteThe RLT I would consider myself most attached to has a community of users we can connect with, which is great for seeing how peers use the tool and get the most out if it. A very supportive experience.
EditedBy: Alex Jones
3
format_quoteSome RTL's use AI to try to predict customer behavior. I believe if done well it can work, however, I am worried about the hypothetical scenarios and gathering information in a vacuum. I believe you have to do an enormous amount of basic research to get AI to be valuable.
EditedBy: David Tigay
3
format_quoteTech trends of RLT's:
Edited
Powerfool tools (engagements/integration/onboarding)
AI exploitation to make predictions about the analyzed data
increase of available data
general digitizalization of business processes
new digital channels
sensors/IoTBy: Marzio Alessi
2
format_quoteAI and Machine learning are key trends to improve RLTs. Lately there is more involvement to identify and filter (both in and out) customers/users to avoid getting biased replies. We are still at early days with AI, but it is improving the traditional RLTs.
EditedBy: Jorge Arce
2
format_quoteSpecialization: Tools are more commoditized & subscription-based, it's easier to offer something bespoke to niche needs. Visualization: Tools are competing to synthesize information gathered in a visual way.Predictive: ML and AI, can determine 'what will' happen in the future based on current data.
EditedBy: Jonathan Ralton
1
format_quoteWe need to be open to new techniques that are driving better and faster ways of gathering information. I use a term, called, unconscious bias. We tend to have a bias for what we know and think works best, but we need to try new approaches and embrace technology to obtain better results/insights.
EditedBy: Jorge Arce
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keyboard_arrow_down Success factors
6
format_quoteI want a free trial or find a pricing structure that tells me how much the RLT costs ("contact us for pricing" is the worst!), I'll google another RLT provider. There are so many tools and no matter how good the sales team demos - having a free/low cost trial to try the RLT out is the best.
Edited
By: Alex Jones
5
format_quoteWhatever tooling that is created needs to be easy to use especially for users who may not be familiar with research tools, but robust enough to satisfy the needs of those who are.
By: Lulu Lin
5
format_quoteFocus on the added value...and test! It's about testing what is working best and focus on creating value. If a feature is not driving value, avoid it and focus on the valued characteristic. Keeping it easy and straightforward can help create more value, both as input and as output.
EditedBy: Jorge Arce
4
format_quoteThe winning solution requires continuous innovation and adaption. The market will continue to change and adapt, and if your product and the team needs to continuously monitor and adapt. you will be left behind.
Edited
By: David Tigay
4
format_quoteA key element to succeed in the in the RTL space is specialization. RLT companies cannot be one-do-all providers, but will need to pick a specific segment and focus on serving that extremely well in order to be able to compete.
By: Panagiotis Goros
2
format_quoteNobody is going to use an RLT in a vacuum. The tool has to work in context and in concert with a tech ecosystem. A company needs to provide: Value, Services & Support.
Edited
By: Jonathan Ralton
2
format_quoteWith all the learning tools, the challenge is to easily access them, on your notebook and mobile. Being able to demonstrate to others in an easily visualizable manner. Also ability to leverage search tools to help you find the things you no longer remember which folder they are sitting in.
EditedBy: Josef Z
1
format_quoteRecruitment of the right people and setting of the culture is a critical foundation to creating a high-performance team and business. It needs a mix of start/scale up experts, passionate innovators and some subject matter experts. Then you can shape the proposition, product and GTM strategy.
EditedBy: James Monighan
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keyboard_arrow_down Characteristics
4
format_quoteA tool can look great, but it needs to gather and present what you need in order to understand and make decisions.
EditedBy: Jonathan Ralton
3
format_quoteWhatever tooling that is created needs to be easy to use especially for users who may not be familiar with research tools, but robust enough to satisfy the needs of those who are.
By: Lulu Lin
3
format_quoteIncorporating features within voc RLTs that consumers already use makes the process both easy and more natural. e.g. ability to 'react' or provide answers in emojis, gifs, video files / voice notes are all relatively new features of digital RLTs but Have been used for years in other applications.
EditedBy: Alex Jones
3
format_quoteTraits such as integrity, responsiveness and value continue to be important. Ability to listen and deliver products to niche's is important. We have moved beyond the 'one size fits all' and favor bespoke solutions. i.e "Nike By You' platform, where they offer individually customized shoes.
EditedBy: Jantzen Cole
3
format_quoteWe use RLTs that are easy to use (easy for non-research specialists to pick-up quickly), and require little direct support from the provider. Be available to help me, yet provide an experience for me - not just yours. e.g. payment options that don't restrict me into contracts or auto-renew.
Edited
By: Alex Jones
3
format_quoteA winning solution should be:
Edited
-flexible ->allowing customization
- modular->able to buy a piece for a specific purpose
-easy to use/UX friendly: with powerful search engine Google style
-smart: leverage AI to predict accurately
-integratable: easy access to custom data (ie CRM)
-run as SAAS/BPAASBy: Marzio Alessi
3
format_quoteWinning Characteristics
Edited
1 Ease of Use
2 Actionable Data
3 Ability to Re-Create the Decision Making Context
4 Easily Adapted to New Demographics & Points of Feedback
5 Intelligent - Able to Identify Weaknesses/Strengths of respondents
6 Scalable Pricing - Have a structure for small start-upsBy: Jantzen Cole
2
format_quoteFuture (successful) player requirements
Edited
Values: reliability, trust, flexibility,ability to find the right data, UX
Services: modular functionalities; customizable, AI exploitation to predict trends, ability to reach clients through the channels they use
Help desk/support SLA like the Amazon oneBy: Marzio Alessi
2
format_quoteTrusting suppliers that you can rely on is key. Partners need to offer value add, go the extra mile. and be willing to address a burning problem. They need to spell out the truth, without surpassing the client-supplier hierarchical relationship and offer a friendship like interaction.
EditedBy: Josef Z
0
format_quoteTrusting suppliers that you can rely on is key. Partners need to offer value add, go the extra mile. and be willing to address a burning problem. They need to spell out the truth, without surpassing the client-supplier hierarchical relationship and offer a friendship like interaction.
EditedBy: Josef Z