Feel like you're lacking quality insight, but don't know how to start?
We're often approached by product marketing and program teams who feel that they lack a comprehensive picture of their markets and key opportunities. They're usually in possession of a stack of primary and secondary research, but they're not certain how it fits together or how to get their teams onto the same page. And they don't want to simply kick off an arbitrary research effort without a clear understanding of the most critical intelligence gaps. We agree.
At Parametric, we appreciate the problem of prioritizing research spending and focusing efforts on the areas that are most critical to clients. That's why we often counsel clients to start with a Market Intelligence Baseline. It's typically an interactive, four-step process that includes:
- Clarifying client business objectives and gathering available research: In conjunction with clients, we clearly and quantitatively define intelligence needs, and enumerate critical questions, e.g., market size, customer value, etc.. We then identify current, desired and "best practice" use(s) of intelligence.
- Gathering and structuring data, research and corresponding reports for analysis and presentation: We audit existing client research and source data, then perform a gap analysis vs. key requirements. Frequently, this will include a simple client exercise to elicit key market assumptions. All too often, clients forget that they have a surprising amount of internal working knowledge about their markets and customers that simply hasn't been documented.
- Synthesizing data to enable directed action: We provide clients with both executive-level and working material. We include recommendations for additional research and analysis to close critical gaps.
- Supporting client decision processes: We not only deliver presentation and narrative material, but facilitate live discussions to help apply current intelligence to its fullest, then decide on what's next.
At the conclusion of this work, clients are armed with an accessible intelligence synthesis - the Market Intelligence Baseline - to both (a) inform executive evaluation of market opportunity and (b) provide a uniform view of market factors to support decision-making.
If you're interesting in talking with us about how a Market Intelligence Baseline might support a
new or ongoing effort to gather insight, please contact us.
