Knowing your markets from perspectives that can drive product and service development accurately is the first step towards effective strategic content and technology marketing. Shore analysts can help you to do this from a variety of perspectives that can yield insights rapidly. While Shore has conducted significant quantitative market studies, often qualitative research and market intelligence can provide important and relatively inexpensive guides to defining the goals for surveys and other more expensive methods more accurately.
Key techniques used by Shore to know your markets include:
- Structured interviews – Having an objective third party such as Shore speak with people typical of specific customer profiles can help to develop more accurate pictures of what drives decisions on content and technology use in people’s real work and personal situations.
- Narrative research – Shore has been trained in narrative research techniques pioneered by Cognitive Edge, Pty. which combine open-ended “story telling” and story coding to deliver insights into people’s attitudes and actions without introducing the bias of specific hypotheses. Narrative research can be referenced again and again to test and develop new lines of study and to reveal “weak signals” in people’s behavior that may indicate important emerging trends. methodology overview download (PDF)
- Market sizing – Using a variety of existing data sources and novel sources, Shore can develop estimates of likely revenues, accounts and subscriber/purchaser populations for a variety of largely unscaled market opportunities. Market sizings can help to formulate more accurate scaling of investing in market opportunities, with rough sizings providing rapid confirmation of overall opportunities and in-depth sizings enabling effective fine-tuning of strategic investments.
- Market definition – Often new content and technology products and services evolve in ways that suddenly define opportunities which may span many different types of potential market sectors or purchasing profiles. Shore’s extensive experience with a broad array of market models can help you to define new markets that appeal to needs that people are most willing to pay for.
- Competitive and market intelligence – Using a variety of ethical information gathering methods, Shore can develop S/W/O/T profiles of your competitors and comparative market maps to understand better how your own market strategy fits into a landscape for similar products and services.
- Requirements Analysis and Specifications – Deep-diving into specific workflows and information needs across specific clients and prospects can yield detailed and/or high-level business requirements documentation to drive product specifications and development priorities.
Contact us today to learn more about how Shore can help you to know your markets more deeply.
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