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All You Need to Know About Rapid Qualitative Market Research

Authored by Novus Insights 24/06/2022

Research conducted with a time-centric approach, focused on yielding results within short periods is called ‘Rapid Research’. Qualitative market research utilizes non-statistical data to understand market trends, experiences, or opinions and keeping it result-oriented within short time frames is called rapid qualitative market research. There are many benefits of rapid qualitative market research including the competitive edge it gives to the companies to modify their products in-time based on rich consumer inputs. Continuing on the topic, we discuss everything you need to know about rapid qualitative market research. Read on.

Related Blog- Why Technology Market Research is Important for Tech Companies?

Conducting Rapid Research

Conducting rapid qualitative research within a short period comes with potential challenges such as the probability of falling short on precision and missing out on in-depth aspects. This is why formulating a systematic timeframe is essential to derive comprehensive results with actionable insights. Here are two common time frames used for conducting rapid research:

  • One-Week Timeframe: This approach requires a balance between speed and precision. Defining of research objectives and framework on day 1, followed by a short pilot study on day 2, comprehensive research on day 3-4 and preparation of report on day 5 and presentation on day 6.
  • Two-Week Timeframe: A two-week research gives more time to gather, process, and interpret data, which is why it is expected to be yielding a more precise result than its one-week counterpart. You can dedicate day 1-2 for secondary research, day 3 for construction and sending across survey research, day 4-5 for preparing interview research, day 6-8 for interviews, and the remaining days for compilation of results and presentation.

It is worth noting that the prioritisation of clients is a prerequisite for selecting the approach. Use the former for clients with urgent needs and vice-versa.

Finding the Right Time to Apply Rapid Research

Not all projects are suitable for rapid research. But due to its quick turnaround time, rapid research is a perfect fit for projects requiring testing in ‘literature reviews’, ‘competitive analysis’, ‘concept testing’, and so on. Rapid research is not as simple as it seems, which is why you should consult a rapid research agency that offers rapid research support and yields valuable data insights for your research objectives.

Things to Remember

Rapid research requires thorough planning, effective team coordination, and time management. Following are some of the things to remember when conducting rapid research:

  • Forming Groups: Organize your team into micro-groups to distribute the work evenly. For example: Assign 2-4 people for interviews or surveys and others for drafting of surveys and presentations, etc.
  • Multidisciplinary Approach: To save time, reduce the work, and manage the task effectively, it is better to have a diverse team encompassing designers, analysts, developers, and so on.
  • Managing the Notes: Systematic arrangement of notes during interviews, conferences, and surveys is crucial for seamless execution of tasks and for avoiding any need for revisits in an already tight timeframe.

Conclusion:

Qualitative rapid research can be very helpful for companies to improvise marketing strategies for improving customer’s experience and potentially boosting sales in time. Though rapid research is no mean feat, with the right strategies it can be executed with near perfection. And if that sounds difficult for you, hire a rapid research service provider for your research project. Consult a leading rapid research company that offers full research support and customized reports within competitive timelines.

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