Transforming Market Research Findings Into Actionable Insights
Instant access to market research insights is critical for any brand team. Yet many teams wait days, if not weeks, to acquire the data they need to support decisions. These delays cause projects to run long and prevent teams from making agile changes to their go-to-market activities.
One of BW Consulting’s clients was facing this situation as it prepared for launch. The company, which operates in the CNS/MS space, had completed several rounds of qualitative and quantitative market research. However, it was rarely ever reviewed, and findings were often forgotten. Research data were also siloed, making it difficult to find critical connections and insights between studies. And, when planning market-shaping strategies, the client had difficulty determining which insights were actionable.
Using a proprietary market research tool, BW Consulting collected all relevant primary and secondary market research, beginning with quantitative data before moving to qualitative. The information was then assembled, organized, and compressed into a digestible display of charts and graphs that aided visualization and allowed the team to identify trends and gaps.
Working together, BW Consulting and the client drew conclusions and boiled down key themes to identify those that were most actionable and could align with strategic objectives. Specifically, the team developed insight-driven disease awareness territories in the MS space and aligned on priority areas of focus.
The impact of implementing BW Consulting’s proprietary market research tool was felt by the entire brand team. It led to the efficient onboarding of new members, provided executive summaries for leadership, visualized the patient journey by capturing findings across stakeholders, and identified actionable insights in real time.