RESEARCH IN PRODUCT MARKETING
Research Done; What Next Now? Steps to Take After Completing your Research
Appetizer
Hey there, folks!
Welcome to this week’s edition, packed with energy and insights. Over the last few issues, we delved into the exciting world of research, exploring tactics to supercharge your market research game. But here’s it: What’s the point of all this talk if we don’t know what to do when we wrap up our research?
Well, there’s no need to fear — that’s why I’m here for you! Today, we’re diving into the realm of post-research action. Buckle up and get ready for a ride of turning insights into impact! Let’s cut to the chase and uncover the essential steps you need to take after completing your research. No more beating around the bush — let’s dive right in!
Main Dish: What to Do After Research
No matter if you’ve rocked a competitor analysis, nailed a win/loss analysis, crushed it with a focus group research, or aced customer interviews, there are final two killer moves you have make once your research is done:
- Validate your hypothesis
- Build a bulletproof business case
First of all, how do you go about validating your hypothesis and why is it so important? Validating your hypothesis has to do with confirming those interesting insights, mind-blowing conclusions, eye-opening trends, and killer feedback you’ve gathered from whatever research technique you must have carried out. It’s like putting the result of your research through a hardcore reality check to see if it’s got what it takes to rock your target segment’s world–basically testing the pulse of the idea to see whether it has irresistible, or at the very least, some potential!
Validating your hypothesis is important to consider whether your conclusion is something your target segment is ready to put hands into their wallets for your conclusion and also how urgent they may need what you’re offering. By validating your hypothesis, you get to figure out where there is an opportunity for your business.
To validate your hypothesis, you can simply take the steps of blogging about the idea to test the interest of your segment — from how much attention it gets. You can also validate your hypothesis by building a simple landing page to get your target segment to register interest.
Secondly, on building a business case–this is your one step to going from idea to reality. It’s where you unleash the power of persuasion and showcase the incredible value and benefits of your proposal to secure high level internal buy-ins. Get those key stakeholders, like the CEO, CMO, VP of Product, CFO, all on board!
After all, what’s research without actionable recommendations?
The moment validation has been gotten from the result of research, it is important to essentially package such validation into a business case.
Your business case is the holy grail. It’s the document that captures the essence of your game-changing concept. Whether it’s new product, or a killer feature, or a proposal to conquer a new market, or strike an epic acquisition — everything goes in here.
Dessert
In conclusion, conducting thorough market research is just the beginning of the journey. After completing your research, it’s time to take action and make things happen. Validating your hypothesis is crucial to ensure that your conclusions align with the needs and desires of your target audience. By testing the pulse of your idea and gauging interest, you can identify opportunities and determine the potential success of your concept.
But don’t stop there! Building a compelling business case is essential to transform your idea into reality. You still need to craft a persuasive document that captures the value and benefits of your proposal, and rally key stakeholders to join your mission. It’s time to unleash your persuasive prowess, and let your game-changing concept shine. Get ready to dazzle and turn your research into actionable results!
And…that’s a wrap on today’s issue guys, and of course a wrap on our series on research in product marketing! I’ll probably be taking a short break to fine tune the shape of things moving forward for this Medium Blog. Whichever way, I’ll be sure to leave you all in the loop!
Till next time,
