What tools would you recommend for conducting market research prior to a product launch?
Sneha Nair
6 replies
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Savannah Trotter@savannah_trotter
I would definitely second what Apostolos said below- primary market research (aka research you do yourself) is very beneficial before a product launch!
There are quite a few different approaches, it just depends on what you are interested in learning:
- Concept testing is good at any point in your development process. Early on, you can use it to screen different product variations or prototypes with your audience. Later in the development process you can use concept testing to perfect your product's design, features, messaging, or functionality.
- MaxDiff and Conjoint Analysis are both great options if you want to understand how consumers feel about the different aspects/features of your product. Which do they like/use the most? Which could they live without? This lets you focus on what will actually matters to your audience, without getting hung up with inconsequential details.
- Pricing research tools like Van Westendorp (VW) and Gabor-Granger(GG) are sometimes overlooked, but still very important. If your product is priced too high, people may be turned off immediately. But if it's priced too low, they might end up questioning the quality. VW and/or GG can give you an optimal price for your product and shed some insights on the price sensitivity in your market (which will help you understand how raising or lowering the price later could effect people's perceptions of your product).
- TURF Analysis will help you pick the perfect mix of product features so that your offering will appeal to the widest audience.
Tools like SightX.io are great for this type of research- it automates the heavy lifting, so you just need to input product details, add some questions, and share it with an audience (your own, or an online research panel). The platform uses AI and ML to analyze the data and picks out significant insights!
They also have a good blog (sightx.io/blog) with a lot of resources, which helps make everything a lot more accessible.
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I would say get out there and do primary research. Be part of the process, the solution, and the problem. Get an understanding from all sides of the business based on your own primary experience.
No recommendations, but I have the same question, Sneha! Looking forward to seeing what others say.
talking to customers is everything. A great metric imo is focusing on how many customer conversations you are having.
Tools? For cold outreach emailing and Linkedin DM's asking for feedback are basic, but effective ways to start those conversations
Also a big fan of listening to recorded customers calls. If you have a sales team or CS team that records their calls that can give you a lot of great insights! For those gong is the standard but there is also chorus and other call recording software.
I will like to say social media monitoring I think is better but not the most they are some tools research market that can also be recommended thank you
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