Market research has experienced steady growth over the last few years, and more marketing departments now realize their impact on strategy creation and decision making. One particularly important foundational part of any successful marketing plan, however, requires the efficient capture of customer data and the addressing of customer needs.
To get the data your company needs to be able to address both of these issues, consider the tips below.
Use transcripts for a customer listening hub
A customer listening hub is a place where you store and fully organize all customer feedback. These hubs accomplish two things: the prevention of data silos and the introduction of visibility for key customer data. Your team can use this hub to store data results and analysis from things such a focus groups, provide market research access to multiple departments, and track additions and updates to your market research over time.
One way to create these hubs is via transcription, since research teams record the studies via video or audio, have these mediums transcribed and then store them into the designated hub location. In global businesses and organizations, foreign language transcription services can be used to transcribe crucial marketing materials into languages all staff members everywhere can understand.
Start conducting global customer research
Customers aren’t just clustered in the same region anymore. These days, you may have customers–or potential customers–all over the world. Of course, these customers all have their own buying behaviors, brand preferences and cultures. Customers from the US and customers from Spain, for example, will very likely respond in different manners to the same marketing approach. Now more than ever, your marketing research team has to be able to conduct global consumer research to understand these different populations.
Similar to customer research for local markets, global research involves holding focus groups, handing out surveys and conducting interviews. The differences here are usually the language involved and the distance between the brand and the participants. Videos make it much easier to conduct global research today. No longer limited by geography like they once were, the reach of technology now means your team can conduct research worldwide without ever having to leave the office.
Usually recorded by the market research team using online tools, video lets your team interact with people no matter where they are. These videos can be optimized even more with subtitles provided by foreign language transcriptionists. This way, everyone in your company can understand and use the global customer insights being shared on those videos.
When you use professional transcription services for foreign languages in your marketing research, you can expand your data bank by accessing global audiences and team members, overcome the language barriers that can impact marketing research tool use, and simplify international team collaboration. Contact a professional transcription service to take your marketing research to the next level today.