Agile organizations enjoy several benefits—like moving quickly, making better decisions, and responding to market changes faster. But what exactly does market research look like in an agile organization?
Beyond CX - How Insurance & Financial Services Companies Are Using Agile Research to Drive Product Innovation
Thanks to mobile devices, social media, and e-commerce platforms, we all know how seamless the modern digital experience can be—to the point we’ve grown to expect that’s how they should be. In the financial services industry, startups like Acorns, Robinhood, Betterment, and Wealthfront have emerged as digital-first operations. These companies are built from the ground up to focus on stronger customer experience (CX). That starts with being easier to use, intuitive, reliable, and helpful. But true magic came by building new, innovative experiences that deliver even more value.
Thanks to new research approaches, all companies—even those with storied histories—can innovate as quickly as startups, leveraging consumer insights to inform the best way forward.
For some time, organizations have used experience design (XD) research to help sculpt processes, services, events, and products that customers would interact with. This kind of research focuses on the quality of each experience and the context surrounding how people experience it.
As companies apply agile approaches to marketing and new product development, customer centricity has become even more critical improving customer experiences, building new products, and delivering relevant marketing communications.
Most marketing, innovation and customer experience teams are being tasked with delivering more frequent and faster consumer insights. They are applying agile methodologies to the development of new products, services and marketing touch points. Success requires a mix of new technology to bring agile consumer learning capabilities in-house, as well as specialized outsourced research services to help boost company flexibility and fill in gaps with internal capabilities. But how do you find a research provider that can truly deliver on the promise of agile?