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How Organizations across Industries are Leveraging Employee Insights to Produce Cutting-Edge Market Research
Date:8/23/2013

CHAPEL HILL, N.C., Aug. 23, 2013 /PRNewswire/ -- Recognizing that employees are often a company's greatest asset, many leading organizations have begun to capture critical product and market insights by using their own employees in "internal" market research studies.

Involving employees in market research can boost engagement. At the same time, it can provide rapid "directional" insights on specific commercial issues – thus helping Market Researchers and Marketers better understand the market and frame external studies.

In a new study, research and consulting leader Best Practices, LLC examines how companies are using their own employees and employee groups to conduct primary market research. The study captures key insights on what motivates companies to use employees for market research; how internal study participants are targeted; and how information is collected, vetted for bias, and disseminated.

  • The study found that approximately three-quarters of companies participating in the research conduct internal market research studies either "frequently" (31 percent) or "sometimes" (46 percent). Only 23 percent of surveyed companies reported conducting employee-related studies either "rarely" or "never."
     
  • In terms of the benefits of conducting internal market research studies, participants felt they were at least somewhat successful in a fostering a wide range of benefits, including greater employee engagement (90 percent), cost savings (76 percent), the ability to fill in gaps in external research (68 percent), and greater research flexibility (63 percent).

"Best Practices in Leveraging Employee Insights to Produce Cutting-Edge Market Research" is a new rep
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SOURCE Best Practices, LLC
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