Giving you the confidence to move forward.
We help our clients move forward with major initiatives. This means we don’t just provide high-level data; we structure the research to answer tough, specific questions: What should the price be? Who is our real buyer? How do we shape the product or services, so it stands out and is relevant? What are the real issues we will face?
Here are just a few case studies of our work:
BRAND AND NAME CHANGE
Facilitating a company name change
A large credit union engaged Q Market Research to research name options and determine if there was ample support for the change. We conducted comprehensive interviews of the credit union management and board, phone surveys of current and prospective “best” customers, and email and mail surveys of the market area.
As a result of the research, Q Market Research provided solid evidence that a new name was viewed positively by members and prospects in the community. Equally important, the research unified management and their board, leading to a unanimous decision to change the name.
Improving company operations and customer retention
A provider of small group health plans was losing market share. They engaged Q Market Research to conduct monthly phone and mail surveys measuring the satisfaction of their small group employers. The research identified immediate customer service problems that were aggregated by satisfaction level and size of the customer.
Q Market Research ranked operational improvement opportunities. As a result, billing statements were simplified and modifications were made to the renewal process to improve retention. Q Market Research also identified clusters of dissatisfied customers by agent, leading to frank discussions between sales management and those agents to improve service and retain accounts. Agents were re-assigned where necessary. The result was a 6% annual improvement in retention.
NEW PRODUCT DEVELOPMENT
Product development for Millennials
A large company asked Q Market Research to sort out product features that would most appeal to its target customers: Millennials. We conducted phone interviews and focus groups of prospective customers.
Our research ranked features and benefits by income, psychographics and propensity to purchase. Based on the strongest features, we generated new product naming options and then tested them through further phone research, along with positioning strategies against the competition. The new product was launched and reached 159% of the first year sales goal.
More case studies are available upon request.