There used to be a common saying: good, fast and cheap; pick two because you can’t have all three. No longer is that true. Now that the research game has been altered at its very core, it is possible to get all three dimensions. The past decade has broken open the black box of traditional research, enabling clients to skirt the middle man and take direct control of their own research. The research industry is not unique; many industries have undergone fundamental, irreversible changes to their business models. ”The Quick and the Dead” illustrates how fundamental changes in our society, economies, commerce and business have changed the game through disintermediation largely driven by different elements of speed. At its core is the need for every organization to have fast decision making in their DNA. Those who have embedded an expedited decision making process into their business model will win the prize.
In the research context, DIY has been the biggest change agent and we at Vision Critical like to think we have played a role with our disruptive technology. Our community panel platform gives clients the ability to not only directly conduct their research, but to own and manage their own sample. The speed offered by Community Panels is based on numerous dimensions. While it is evident once pointed out, ”The Quick and the Dead” shows that readiness is a key element of speed and introduces the concept of ”Always On” research. If you are constantly at the ready, in the starting blocks, ready to pull the trigger at any moment, you have a clear competitive advantage. Community Panels give clients a high level of preparedness with prescreened, prequalified, deeply profiled, motivated customers at your beck and call. Meaning you get your data back in a matter of hours or days, instead of weeks or months.
Another ”Always On” element lies in the rich database of customer intelligence that builds within a Community Panel. Ask a 100 question survey by only asking an additional 10 questions, since 90 of the questions already exist in your customer intelligence database. All the while, you build deeper customer relationships by showing your customers you are listening and acting on their input. Nothing is more empowering for a customer than to realize that a brand is listening and responding to their needs. But I digress from our theme of speed.
It is not only companies that need to adapt to the new speed of business, but each of us in our own professions. To ensure we are not only relevant, but essential, we need to each leverage elements of speed in what we do. Speed so that we can help our own organizations adapt, change and execute to be winners in their respective sectors. If you play a role in gathering key information your organization needs to make business decisions while moving at breakneck speeds, you have more than proven your value.
So which will you be? Quick or Dead? Metaphorically speaking, of course!