A top-5 Quick Service Restaurant company faced a 12.5% market research budget reduction while maintaining high demand for insights. Voxpopme's platform enabled them to maximize research capabilities within tighter financial constraints.
The Challenge
- 12.5% reduction in market research budget while demand for insights remained high
- Traditional research methods were not cost-effective enough to maintain performance standards
- High costs associated with external agencies further strained financial resources
- Risk of further budget cuts if research capabilities could not be optimized
- Difficulty balancing the need to hire essential personnel against cutting critical research projects
Solution & Implementation
- Implemented Voxpopme's Video Surveys to gather qualitative data quickly and efficiently
- Deployed AI Insights to analyze data 60 times faster at 3% of traditional method costs
- Built a centralized repository of video responses enabling cross-project analysis and data reuse
- Utilized Live Interviews (IDIs) with Voxpopme's scheduling, screening, and recording capabilities
- Leveraged AI-driven analysis to reduce redundancy and consolidate project costs by 28%
The Outcome
- Research output increased by 144% despite a 12.5% budget cut, enabling more projects within the fiscal year
- Cost savings of 30% per study and 85% on customer interview sessions freed resources for additional research
- AI-driven analysis improved accuracy and depth of insights for more informed strategic decisions
- Rapid delivery of insights enabled faster, data-driven decision-making and improved market responsiveness
- Centralized data repository with AI chat functionality enhanced efficiency and enabled exponential cross-project insights