With the wide variety of cutting-edge technology, communication channels, and innovative methodologies more readily available than ever before, market research should be a breeze, right? Unfortunately, however, this often proves to be overwhelming, causing business needs to get lost in the journey, leaving us with research with only loose ties to business objectives at best. As we explore in our latest white paper, that’s why setting an ROI compass is crucial step for simplifying your research, steering the clearest path to the business goals, and delivering impactful insights.
What exactly is an ROI compass? Here at 20|20 it’s the foundation for all the research we do. It’s the tool that keeps true business objectives front and center every time. It’s the tool that prevents scope creep, limits miscommunication across stakeholders, minimizes surprise objectives, and prevents expectation misalignment, The ROI compass emphasizes how each step in the entire process ties back to the business objectives, helping researchers link their work more directly to the success and growth of brands and businesses.
How do you set an ROI compass? Even though project details differ dramatically, setting your ROI compass typically follows the same approach – and it always starts with asking the right questions to identify true business objectives. Once the ROI compass is set, it’s just as important to take measures to keep focused on these objectives during fielding and project execution and implement best practices to avoid distractions.
In our fast-paced world it can feel almost impossible to put business needs first every time, which is why the ROI compass can be a great guiding light for your research.
To read more about how to set up an ROI compass and use clear business objectives to deliver impactful insights, check out our white paper Make Objectives Matter: The Importance of Setting an ROI Compass for Research. In it, you’ll also find real life examples and tips and best practices for effectively using an ROI compass.