Understand your current or prospective solutions better.
Markets, technologies, trends, and customer expectations are always evolving. What’s tried and tested for a time may no longer hold water. To stay ahead of these changes, businesses must keep their fingers on the pulse of their industries — and beyond.
Invest the time you need to find these answers now, so that you don't have to start from scratch in the future.
Fundid wanted to make the right next step for their growth. They needed to verify whether there is a need for their product but they didn't have a method, process, or tools to do this.
Netguru came in to provide help in three main areas:
Stefanie Sample
There’s a range of arguments why research is critical. Here are the ones that matter most to businesses.
The proprietary USE framework created by Netguru ICON helps us navigate any challenge comprehensively, from understanding, through strategizing and all the way to execution.
Market intelligence is a vast discipline that is based on the following four elements:
Rather than relying on assumptions, entrepreneurs and executives must leverage hard evidence gathered through disciplined and structured research approaches. It’s rarely enough to collect publicly available data from online sources. Businesses must also engage with prospective customers at the earliest possible stage to observe them, solicit feedback, and test products before them.
See below why research is essential to prosperous businesses:
Our innovation consulting team wants every product idea or business concept to become the best version of itself before our clients and partners thoroughly invest in its development. These are the principles we adhere to when it comes to research:
When uncovering new opportunities, it can be tempting to jump straight into product conceptualization, design, and development. Having worked with a lot of founders and executives, we consider such enthusiasm an invaluable asset to any project.
However, this excitement can also push some to forego research and work on prototyping their product idea immediately. Alternatively, those that do some research do them half-heartedly and only rely on easily obtainable data. There are countless examples why this is a mistake. Here are the risks in not conducting proper research.
Gathering and analyzing market intelligence help decide on objectives and goals. It can help you determine which markets begin working in next by discovering the conditions, characteristics, and dynamics of the market.
Get growth tips, that will make your business sky-rocket.
Radek Zaleski