On 27th April 2021, Bob Lederer, host of the Research Business Daily Report (RBDR), published a video featuring Emily James, exploring the need for two-speed market research. The interview, Not So Fast, There’s a Need for Two-Speed Market Research, explores the topic of conducting both fast and slow research at the same time in parallel with each other.
Bob Lederer of RFL Communications introduced Emily and the topic of two-speed research, Emily then explored the benefits, past and future-use cases of a two-speed strategy in more detail.
Combination-based innovation is truly speeding the insights industry into a wonderful and innovative future. Still, stakeholders continue to ask for faster market research, and as a result the insights industry has become obsessed with quicker speeds. So, with most of the industry focussed on agile research in all its forms: quick, cheaper and iterative, it’s easy to forget the benefits of slower, deeper research, and the risk associated with leaving it out of an insights strategy.
There are many benefits to both speeds that work wonders for insight generation in the right situations. Quicker research typically takes the form of agile, ad-hoc, or simple task-based projects that are run to generate insights at the speed of business; but these typically only guide a couple of decisions with surface-level insights. Longer-term research strategies allow researchers to dive deeper into the reasoning behind participant responses and the insights generated.
The two-speed research method allows insight professionals to run both fast and slow research at the same time, in two streams running in parallel, combining methods and benefits, and mitigating any risk.
The two-speed strategy has been done in other industries, such as the marketing and information technology sectors. But we don’t face the same limitations as those industries, such as a reliance on legacy systems or agile methods, which means we have the opportunity to grow a two-speed research strategy into a truly impactful research approach.
Research Business DAILY Report (RBDR) is the world’s only daily news video covering under-reported events impacting the world of the market research industry; hosted by RFL Communications Editor and Publisher, Bob Lederer. Learn more about Bob Lederer and the daily news videos on their website here.