Fast Track to Launch
Company’s quick launch made possible through interviews and key insight information gathering.
Here’s how they did it.
Unveiling Client Goals and Discovery of Potential Obstacles
An artificial intelligence company that developed products for analyzing and monitoring upstream and midstream assets in the energy industry needed more market information before a new product launch.
Client Goals:
1) Develop an understanding of budgets for relevant departments and future clients
2) Better understand industry willingness to adopt AI to solve problems
3) Gain insight into industry familiarity with AI as a tool
Our client’s problem was made more challenging by the fact the necessary insights were generally considered confidential. Budgeting information and company decisions were often classified and protected, therefore guarded under anonymity. In addition, the product launch was coming up quickly, so the research needed to be conducted in under 6 months. The AI company needed to develop a qualitative research program to address its information needs, and sought out the expertise and resources of our team.
Crafting Key Indicators – Determining Criteria for a Successful Investigation
ADV Marketing provided possible market research solutions, and the client set the following objectives for our future research:
- Investigate resource allocation from key customers to understand the budget limitations under which key target market customers were operating in, to uncover key pricing decisions for the launch.
- Identify the priorities for the key target market relevant to the new product launch
- Define the willingness to use or invest in AI technology as a tool to help the key target market.
- Acquire information while keeping all insights confidential and anonymous
- Research needed to be completed quickly, in under 6 months.
Execution – the Strategies and Tactics Used to Achieve Client Objectives
The client leveraged ADV Marketing’s extensive network by gaining insight into the industry for their launch using potential customers and industry leader interviews. By utilizing referrals and one-on-one interviews, trust was established upfront, and the responses gathered aligned with the objectives of the research program.
To ensure correct data collection, each interview lasted 15-30 minutes and
was conducted with a pre-written script in an effort to standardize questioning processes for the most accurate deliverable possible. In total, multiple interviews were conducted with the target market companies, support groups, or other relevant industry groups, which met the original targeted response rate. All respondents provided confidential budgetary information under anonymity, which was highly valuable to the client. The names of the respondents and their companies were not reported in the final deliverable.
Delivered Insights and Exceeded Objectives:
After the interviews were conducted, a comprehensive key insights report was synthesized to communicate the most impactful information in three areas: budget, interest, next steps for adoption.
The deliverable presented the key insights first and then provided supporting evidence in the form of quotes to which our clients used to craft their launch from a more informed standpoint. All questions posed by our client were answered, and due to our timely data collection and effective analysis procedures, the final insight deliverable was delivered in under 3 months, cutting the projected project time in half.
Client
AI Company
Industry
Upstream and Midstream Energy
Services
• Market Research Solution
• Access to Market Research
• Implementation Strategy Workshops
Key Benefits
- Access to a network of key customers willing to share their experiences and bring to light the information sought by the newly launching company.
- In depth Deliverable presented by our team that assimilated key insights from our data and provided supporting evidence for solutions found.
- Confidential budgetary information for target market which provided highly valuable pricing information to the client for their launch.
- Insight deliverable completed in under 3 months, which cut original timeline in half.
%
Decrease in project time
Key area insights
“Market research conducted by ADV Marketing provided information that we would have either not been able to obtain or would have taken months longer to put together. The research report we received read like it was written by a midstream expert rather than a marketing firm. Some of this information revealed insights that were very different than our assumptions and has been extremely valuable as we develop messaging for our products.”
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