We’re pleased to announce a new service to our clients through our partnership with the market research arm of software development firm Stable Kernel. Savvy organizations utilize market research to better understand their markets and minimize risk before investments are made.
We’re kicking things off with a conversation with Emily Creek, Senior Director of Customer Insights and Strategy at Stable Kernel, to learn more.
Hi, Emily! Can you tell us what market research is and what it entails?
EC: Most of all, market research helps guide decision-making. It allows companies to better identify new opportunities, develop or refine products, define and better understand target audiences, and test marketing messages. There are two main “buckets” for market research:
- Qualitative, which is typically performed via focus groups, in-depth interviews, or observational studies. It mostly relies on open-ended questions such as, “What has stressed you out most in your job in the past month?” This research type is conducted for hypothesis development when you need to understand the “why” of something, and when there’s access to smaller groups.
- Quantitative, which is typically performed via online surveys and uses mostly closed-ended questions with a list of responses to choose from such as, “Which of the following, if any, have stressed you out in your job in the past month? a) lack of work/life balance, b) unrealistic expectations c) limited budget.” It is used to confirm a hypothesis when statistically significant findings are needed, and when there’s access to a large sample size.
What are some examples of why an organization might need market research?
EC: There are many reasons why such research is useful, including:
- Gain information about a market/category to help shape entry strategies and/or get a better pulse on the audience
- Evaluate brand, product, or ads in the context of competitors
- Understand the lesser-known values a brand brings; what contributes to a brand’s trust, and how well it fits or delivers on specific attributes
- Identify and understand higher priority versus lower priority audience segments to effectively target marketing efforts (i.e., how best and where to reach each audience)
- How to best position a product/service, going beyond a succinct statement of what it is and its features/benefits by also uncovering emotional drivers (i.e., trust, reliability, etc.)
- Inform the modification of an existing offering or produce an entirely new offering
- Gauge purchase intent for potential new products to determine if it is worth future investment
How is Stable Kernel qualified to deliver market research?
EC: The market research department at Stable Kernel consists of two senior market researchers, Mary Elzey and me, offering over 20 years of hands-on market research experience across a variety of industries including healthcare, B2B, and technology.
When working with Stable Kernel, research projects are never staffed out to a junior team. We’re proud to say our clients continue to comment on our enthusiasm, flawless execution, and ability to deliver relevant and actionable insights.
What are some of the brands Stable Kernel has performed market research for?
EC: Within the last year, Stable Kernel has performed market research for Covenant Health, Arthritis Foundation, SVMIC, LP Building Solutions, Cognia, Roadie, a UPS company, Bridgestone, and several others.
Can you give us some best-practice tips for conducting market research?
EC: First, the study’s goals and objectives should be the researcher’s North Star at every project phase. It’s also critical to build rapport with participants through every interaction.
Of course, the researcher also has to be objective, provide actionable insights, and draw meaningful conclusions and recommendations. While there are many strategies and approaches to research, we love MECE (Mutually Exclusive, Collectively Exhaustive) and the Rule of Three.
How can Carabiner clients benefit from the agency’s partnership with Stable Kernel as a provider of research?
EC: Because Stable Kernel is a trusted Carabiner partner, agency clients can hit the ground running without having to look for and vet other market research services, helping to save time. Also, once we’ve conducted the desired research, Carabiner can act on new audience insights immediately in terms of implementing them into marketing and digital strategies, messaging, and content.
If you’re already relying on Carabiner for marketing services, we act as a seamless extension to that offering, with our services paid for through your monthly Carabiner invoice.
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Thank you, Emily! We’re excited to now offer market research through our partnership with Stable Kernel (Stable Kernel is also an agency client). If you’re interested in exploring research projects for your organization, contact us today.