"45% 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐭𝐞𝐧𝐭: 𝐈 𝐝𝐨𝐧'𝐭 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐭!"
Over the past 10 years, I have commissioned numerous market research studies to test new product concepts, packaging designs, and claims, investing thousands of pounds from my annual marketing budget. The results would come in, and everything would look positive. I would use this data to form the assumptions for my business cases and launch strategy. But often, when presenting my plans, I would be told: “𝐈 𝐣𝐮𝐬𝐭 𝐝𝐨𝐧’𝐭 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐭.”
𝐖𝐡𝐲 𝐭𝐡𝐞 𝐒𝐤𝐞𝐩𝐭𝐢𝐜𝐢𝐬𝐦? Business cases are built on assumptions, and market research provides the data to shape these plans. But the challenge is that it’s all a bit hypothetical. What people say and what they do are often two different things, making the data hard to trust. Ideally, we’d conduct soft launches or extensive home user testing, but time and resource constraints often make this impractical.
This is why we need an alternative solution—research methodologies that enable us to rapidly test our products and mirror real-world behavior.
At Veylinx, we offer just that. Our innovative approach, based on the Vickrey auction method, ensures that research participants have skin in the game, providing a more accurate representation of consumer behavior. This helps in crafting more robust plans and reduces the risk of failure.
If you’ve ever been frustrated by positive research results that didn't translate into real-world success, or if you’ve questioned the reliability of your market research data, let’s chat. I’d love to hear your thoughts and experiences!