> Business Hacking: Market Research

Business problem

Traditional market research can be a costly investment and timely process for business to have access to insights about their customers or potential customers. This makes access to market research exclusive to bigger corporations that have the funds and time.

What’s more, market research findings are often based on recall when answering a survey or attending a focus group (people cant always remember exactly what they did and why).  This means many times insights are lacking the depth, detail and real reasons behind consumer behaviour. As such, the quality and usefulness of the findings lessens in its ability to be used to change business for the better.

The DNA idea

Make insights to consumer behaviour more accessible to all businesses by reducing the time and cost involved.  How? Observe behaviour in context of real users. Get into the users real world to gather insights on what they do and why ‘in the now’ as it is conducted ‘in-situ’. This means no recruitment, no scheduling, no facility or equipment needed, no overly engineered research tools.

The output is an idea not a report.  A solution on how to overcome the barrier that has been uncovered. 

The DNA business hacks

Hack #1 Straight to the source.

DNA found a way to short circuit the process of gathering insights both time, cost and quality of output has been achieved. 

Hack #2 Solution not theory to deliver real value.

By providing a solution to problem/s uncovered, the business takes away something tangible to implement.