Lean Market Research Methology

Market Research plays the role of a flashlight in a dark forest for businesses and corporations. On the other hand, the classic way of conducting Market Research is costly, cumbersome and outdated. This fact is especially true for digital businesses as well as small and medium businesses of all types. Indeed, Classic Market Research is very expensive for these kinds of structures. More importantly, Classic Market Research is rigid and lacks reactivity and flexibility to face today’s business pace. This is where Lean Market Research comes into play. Lean Market Research inherits the main strengths of Classic Market Research and adds flexibility and agility to it. Lean Market Research reduces the costs of Classic Market Research by 10 at least. This cost reduction is achieved from both financial and timing perspectives. This is made possible thanks to a massive and wise usage of new technologies, online tools and almost infinite high quality data of the Web.

Online Focus Groups are an Online Market Research tool that provides deep qualitative data through the animation of online discussions between 5 to 50 respondents, typically 10 respondents. Online Focus Groups can bring to your business direct, honest and rich feedback from a preselected audience. You can use this invaluable data for fine tuning your business and marketing strategies. You can use it as well for better understanding your customers and competitors. This allows you to establish a direct connection with your market. All this fastly and at limited costs thanks to the usage of online technologies. On the other hand, numerous pitfalls should be avoided when using Online Focus Groups like the lack of dynamics and spontaneity when compared to Classic Focus Groups. This is in addition to the classic limitations of any digital solution like the IT issues and the data privacy and security challenges.

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Online Focus Groups can be a mine of golden data for your business. It can also be intimidating to conduct, especially the first times. Indeed, Online Focus Groups involve multidisciplinary fields like planning, communication, managing a crew, collecting and storing the data, analyzing and delivering the final analysis etc..

On the other hand, when tackled the wrong way, it can be a big source of frustration and waste of  time and budget.

This is why it’s very important to have a step by step guide that avoids the unwanted headache.

After taming the main principles and fundamentals about lean market research, it’s time now to tackle the funny part. This is The Ultimate and Practical Guide to the Toolbox of Lean Market Research.It’s an invaluable and evergreen skill because the lean market research toolbox is a cornerstone for conducting insightful and professional lean market research.When mastered properly, the toolbox of lean market research can provide you with a clear advantage regarding the market intelligence that you are gathering.This is true from both qualitative and quantitative points of view.Indeed, the lean market research toolbox is a bunch of different digital tools and online resources that provides all the power and efficiency of lean market research.You will see, this part is much more fun since it’s highly oriented towards application and putting hands on it.I think that you got it, we have a lot of cool and highly valuable stuff to learn.

The lean market research is quite versatile and exhaustive. This is due to the fact that lean market research relies primarily on easy to access and efficient resources. In this framework, generic resources are the first go to resources when it comes to lean market research. This post is about The Ultimate Guide to Generic Resources for Lean Market Research.
This post aims at providing a step by step practical guide to the generic resources of lean market research.

Open data is a free ocean of assets for any market researcher. AN ocean implies the need for a compass in order to be able to leverage its infinite power without being lost or drowned. This post is about The Ultimate Guide to Open Data for Lean Market Research.
This post aims at providing a practical and straightforward guide to how to leverage open data in the framework of lean market research.

When it comes to lean market research, it’s key to be able to quantify the facts that are being researched and discovered. Very often, not only the volume matters but also its trend. In this framework, it’s vital to master the toolset related to data trends and volumes. This post is about The Ultimate Guide to Data Trends and Volumes for Lean Market Research.This post aims at providing a practical guide to where to find the best resources for assessing quantitatively a given data and its trend through time.

When it comes to lean market research competitive analysis is one of the most requested types of research. Indeed, competitive analysis allows its user to identify his surrounding environment. Consequently, this type of research makes the strategic vision way clearer. This post is about The Ultimate Guide to Competition & Company Data for Lean Market Research.
Indeed, in order to be able to perform an insightful and actionable competitive analysis, the researcher needs to have access to efficient and lean resources to do so. This is particularly true in the framework of lean market research.
Hence, let’s list and take a look at the major resources for competitive analysis.

Lean market research can have different purposes. In this post, we will be going through the major the 12 Most Powerful Market Research Types that are: Market size, Market segmentation, Competitive landscape, Opportunities, Social trends, Use of and attitudes to products, Improve customer satisfaction and loyalty, Achieve promotion effectiveness, Improve brand position, Achieve pricing effectiveness, Test new products, Enter new markets

Lean Market Research allows you to cut the costs of classic Market Research by orders of magnitude. This is true from both the perspectives of monetary and time costs. In this post, the process and timeline of lean market research are compared to the ones of classic market research.