Guide to Researching Buyer Needs During a Crisis

The COVID-19 pandemic has completely changed the world as we know it. Mitigatory measures not only forced temporary closure of most businesses, but also created supply chain issues. The quarantine forced people to cope with a new way of living by socializing virtually and relying on home deliveries of their daily needs and other items. Drastic changes were introduced in the way we live, work, and shop. A crisis by its nature strikes unexpectedly and businesses should stay prepared. Market research consulting companies can help businesses adapt to market changes by providing insights about consumer behavior during crisis periods. This blog is a brief guide to researching buyer needs during a crisis.

Why Market Research is Essential During a Crisis

During uncertain times, dramatic shifts can be seen in the needs and priorities of the customers. Emotions and anxieties run high which demands extra care from businesses in their overall messaging and positioning. Researching buyer needs during times of crisis helps businesses capture important data on how customers respond to their products/services. Qualitative and quantitative market research also helps businesses conduct trend analysis and better respond to present circumstances and also prepare for any future crises.

Research Areas to be Explored During a Crisis

Some of the areas that market research consulting firms can help businesses explore during a crisis include:

• Change in brand perception
• Customer satisfaction issues pertaining to the buying, delivery, or consumption of products/services
• Engagement of customers with competitors or new brands
• Shifts in criteria for product/service selection among target audience
• Change in traction in your information or media channels
• Problems faced by customers and businesses in the crisis that can be solved through your product/service

Considerations When Conducting Research During a Crisis

When conducting research, market research consulting firms should be sensitive to the difficulties experienced by customers. The motives of research should be transparent and the questions posed should be direct.

The right medium of quantitative and qualitative data collection should be selected as per the nature of the crisis. During crises like COVID-19, in-person research methods are difficult, which is why online market research techniques should be leveraged to track buyer behavior.

Annual or quarterly B2C and B2B market research should be postponed to avoid skewed data. Research on buyer trends irrelevant to the crisis should be avoided. For instance, conducting travel-based or community event-based buyer research initiatives is futile in the context of crises like the COVID-19 pandemic.

Long term business plans should not be based on data collected during a crisis. Market research companies should be mindful of the reliability of data gathered during a crisis as it is likely to be extreme when compared with normal times.

Final Word

To serve customers better, businesses should know how customer buying habits are affected during times of crisis. If you too are looking for a paid market research consulting partner who can help you collect relevant data from which you can derive key insights during and beyond a crisis, you should hire a leading market research company in India. Unimrkt Research is one of the best market research companies with proven expertise in conducting research for a variety of industries on a global scale. We offer top-notch market research services by employing the best scientific research techniques. To learn more about our market research consulting services, call +91-124-424-5210 or fill out our contact form.