Data-driven decision making is the strongest path to continued business growth because it takes the guesswork out of decisions, reducing risk and providing the basis for continual optimisation.
So why is it that so few businesses have ingrained this philosophy in their way of working? A recent Capgemini survey of senior global marketers, as reported in CMO magazine found that: “Less than one in two marketers globally surveyed…say their teams are using data to decide a go-to-market strategy for a new product or service.”
Even worse, only four in ten were using data to modify their campaign strategy or help build the equity of their brands. So how are they building their strategies, planning their execution and optimising their delivery without robust data?
In a post COVID dynamic environment of fluctuating economic, social and consumer behaviour, there’s never been a greater need for data to contextualise, inform and influence the choices marketers, and business leaders in general, are making – whether that is about product, communications, distribution, employee engagement or community contribution. Reliable, representative data is the fuel for effective decision making.
And one of the most powerful sources of decision data is market research. It provides feedback from the consumers, customers, influencers or employees that drive (or undermine) business success and if done well is a powerful decision driver.
Quality market research as an input into decision making can help businesses to test hypotheses, concepts and ideas in front of their audiences before launch — reducing costly mistakes and diminishing risk. And it can be used to refine products and services in market, improving return on current investments.
So why is it that even the most data literate within organisations, like marketers, aren’t using data like market research more widely than it is. Perhaps it is because traditionally market research has been seen as expensive, cumbersome and long-winded, the latter an increasing impediment in a fast-paced business environment.
But none of those concerns hold true any longer. As with many areas, technology has accelerated the pace with which market research can be conducted, improved its efficiency through automation and enabled more widespread access through easy-to-use software substituting specialist service providers.
The path to insight is not as long as it once was, with research now much easier to conduct and control as a result of the emergence of quick-pace, SAAS+ market research platforms like Glow that provide a more direct route to insights through software+support solutions.
Glow is on a mission to democratise access to data, so that more people, in more roles, in more organisations can use data-driven approaches to make better decisions, to help their businesses grow. Read on to learn how Glow can help a range of people within your business make more effective, data-driven decisions.
Insights for Innovation and R&D Teams
In the process of research, development, and innovation, testing and tune-ups can pave the path to success. The Glow platform accelerates market research for innovation and R&D teams, allowing for rapid-speed concept testing in front of target audiences, as well as tune-ups for product, service and comms once in-market.
Glow has recently helped…
- A new skincare brand find the white space to launch into
- An CPG brand assess new product viability
- A beverage brand evolve its positioning post-launch
- A market research agency test a new home hygiene concept for a multinational FMCG brand
Insights for Research Experts
Glow enables researchers and analysts to keep a finger on the pulse faster than ever before, with capabilities to support simple to complex market research studies. With Glow, research and insights teams can identify and anticipate market trends and interrogate rapidly changing consumer behaviour, to stay one step ahead of the pack.
Glow has recently helped…
- A consultancy understand the dynamics of the Chinese skincare market
- A B2B brand get to grips with the dynamics of a new market, the US
- A consumer goods brand refine positioning for a new segment launch
Insights for Marketing, Brand and Content Professionals
With Glow, marketing, advertising, brand and content professionals can test ideas before launch, so they know the work will work. Test communications and messaging, validate campaign ideas, refine campaigns in real-time, and measure the effectiveness of your efforts – so you can prove the ROI for your marketing.
Glow has recently helped…
- A creative agency test advertising concepts for an apparel campaign
- A PR agency build compelling communications for the travel sector
- A creative agency pre-test strategy for a food product launch
- A food delivery service test advertising concepts across multiple markets
See how media, marketing and communications agencies have used Glow to superpower their marketing decisions: fast-turnaround FMCG pitching with Carat, bespoke audience insights with Havas, and agile brand tracking with Atomic 212.
Insights for Sustainability, ESG, and CSR Specialists
Through Glow’s research for good initiative, Catalyst, brands can gain insight into the social and environmental issues of most concern to consumers and get clear direction on the issues their customers expect them to address. Glow can also help brands understand how socially responsible they are perceived to be; an increasingly important metric given 64% of consumers say it influences brand choices.
Glow works with brands like Cadbury, WGAC, Yellow Pages and Deakin University in this ESG/CSR space to enabling these brands to take action on issues that are truly important to consumers.
For an example of how Glow can help you understand the ESG initiatives important to your sector see the Food and Grocery industry report here.
Glow for Data-Driven Decisions
Business leaders know that the cost of a poor decision can be enormous. However, that’s no longer a risk you need to take, with Glow’s high quality, on-demand research available at your fingertips, right now.
Join other leading brands who trust Glow to support their support their research needs including Havas Group, Bain & Co, PWC, Target, Schweppes, Pepsi, Reckitt, Puma, Cadbury and many more.
To learn more about how Glow can help you get the data you need to drive better business decisions, book an intro with one of our research experts.