Actionable insights: What comes after the “work”

WRITTEN BY: CHARU SUBRAMANIAN

A Guide to Effectively Utilizing Quantitative and Qualitative Findings

There are plenty of powerful tools for gathering quantitative and qualitative data and understanding the nuances of consumer experiences. Here are 8 ways to make the most of your data and converting it to actionable insights 

1. Thoroughly Analyze Responses: Dive deep into the survey data. Look for patterns, trends, and outliers. Pay attention to both positive feedback and areas where improvement is needed. Identify recurring themes and common pain points. A thorough analysis is crucial for extracting meaningful insights.
2. Segment Your Audience: Segment survey responses based on demographics, purchasing behavior, or other relevant criteria. This segmentation allows you to tailor your strategies to different consumer groups, addressing their specific needs and preferences.
3. Create Profiles: Develop detailed profiles based on the characteristics and preferences of your survey and focus group participants. Profiles help humanize your target audience, making it easier to align product or service improvements with real user needs. To prevent biases, avoid giving profiles names of people you know and instead use short descriptions.
4. Identify Key Metrics: Pinpoint key performance indicators (KPIs) from your survey data. These metrics can include consumer satisfaction scores, Net Promoter Score (NPS), or specific feedback themes. Focus on the metrics that align with your business objectives and continuously monitor these for both proactive and reactive strategies. 
5. Integrate with Other Data Sources: Combine survey insights with data from other sources, such as sales data or social media analytics. This holistic approach provides a comprehensive understanding of consumer behavior vs perception. 
6. Prioritize Key Findings: Not all insights are created equal. Know what your business goals are before you kick off the project and prioritize findings based on their impact on your objectives. Identify the most critical insights that can drive meaningful changes or improvements.
7. Engage Stakeholders: Share your findings with relevant stakeholders. Collaborating with cross-functional teams integrates insights into decision-making processes, from product development to marketing strategies. Everyone at your company should be thinking of the same consumer profiles when making decisions. 
8. Iterative Testing: Implement changes based on insights and monitor for impact. Continuously gather data and feedback and refine your approach to ensure ongoing relevance and effectiveness. If you are not seeing the results you need, go back to the drawing board and try other approaches to conducting research and collecting data.

Quantitative and qualitative work needs to be done on a regular basis. With changing macro-economics, your consumer’s needs will also evolve. Doing research on a regular cadence, at minimum once a year, will ensure your business stays ahead of the curve. 

Looking to elevate your insights game? Connect with the Flywheel Strategy team to bring your insights to action.