For one global financial services company, changes and economic shifts during the pandemic altered the market landscape drastically. They had a critical need to explore new trends in the financial market and update research on consumer profiles.
The firm had large groups of stakeholders, each responsible for specific consumer audiences, which required large and complex qualitative and quantitative research phases, with a timeline of several months.
Embedding stakeholder activation workshops at the beginning of the process helped to identify needs and provide direction to expedite the research. Throughout the research process, stakeholder discussions and workshops were scheduled, particularly at the halfway point of the qualitative phase and in between qualitative and quantitative research.
These touchpoints helped to keep stakeholders engaged, creating an opportunity for them to activate on some insights as they came in, rather than waiting for the final report. These sessions also helped the company’s in-house research team pull value from the ongoing work and they were able to initiate preliminary strategy behind the scenes based on insights.
Embedding stakeholder activation workshops at the beginning of the process helped to identify needs and provide direction to expedite the research.”
As the work concluded, stakeholders were well-informed about the ongoing research, and already engaged in planning. Guidance throughout the process helped them to begin focusing on their activation strategy so that when the final research insights were available, teams could move more directly toward implementing activation to meet new customer needs and market demands.
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