• C.E.K. & Partners

Tips for Getting Started with Market Research

Market Research - The Basics

Managing a market research firm in Atlanta, I love the quote from Dan Zarelle:

“Marketing without data is like driving with your eyes closed.”

I believe in the power and impact of data and data-driven marketing.

Choosing to partner with a market research firm for paid research studies offers one such pathway for gathering intelligence tailored to your organization’s specific needs. Market research should not be intimidating; it’s a tool that provide health care companies and B2B companies with the right data to make informed and smart decisions. Market research is an investment in your B2B brand and organization. It allows you to gain the necessary insights to make decisions — which sometimes might mean not offering a new product or not proceeding with certain initiatives. In comparison, an investment in market research is small compared to sinking hundreds of thousands of dollars into the development and launch of a program.

A market research firm provides data to inform decisions at the brand level and on the product or service level.

Here are a few examples of questions market research can answer for health care oriented organizations:

1. What are the awareness levels, attitudes and preferences for our hospital system, practice or health care plan? How does that compare to our competitors?

2. Are our customers satisfied? Would patients recommend our hospital, practice or employee benefit plan?

3. Which is the strongest concept for a new product or patient experience?

4. How can we validate whether a refreshed website or digital experience (e.g., patient, emmber or physician portal) helps with simplifying the user experience? Can the user easily find information and complete necessary tasks? If not, what needs to be improved?

5. What content should be created that would be of the most interest to internal and/or external stakeholders?

6. What is our employee health care plan’s point of difference?

7. What do employees think about our company culture?

There are a multitude of qualitative and quantitative market research techniques. Qualitative research enables you to capture in-depth feelings, opinions and attitudes from participants. Quantitative research is based on achieving a statistically significant findings from from the identified group.