October 22, 2019: Markelytics Solutions, a leading global market research and analysis company launched a range of DIY Research Platforms for companies & research agencies to help them uncover insights and relevant market data by themselves and at their own set of parameters, scale, and pace.
In a bid to centralize its branched offerings under different sister-brands covering a slew of services and solutions, including Digital Research & Service Bureau along with the newly introduced DIY suite that subsumes four DIY Research platforms, Markelytics is gearing to re-position itself with a new slogan, “Scale-up with our Comprehensive & Agile Research Solutions” & convey the message of providing all the research needs under one roof. This bundling of all its solutions into three offering verticals, viz. Digital Research, DIY Research Platforms and Service Bureau is aimed at bringing more inclusiveness and value in its offerings to the clients.
Leveraging the power of technology, Markelytics has launched the DIY suite of four research platforms to help brands and marketers find answers to their challenges with a range of solutions including online qualitative solutions (conducting in-depth interviews, focus groups & other forms of qualitative research online through a live video interaction either singularly or in groups), panel management solutions (acquiring, engaging, managing and tracking the analytics of your consumers), Feedback System Management (identifying their own respondents for Panel based research along with programming the surveys without any technical know-how), and Brands-cum-Private Communities (a set of consumers attached to a product/service managed at one platform for better feedback and product enhancements) at a time and to collecting and making sense of all the data into actionable insights.
According to a study conducted by CB Insights in 2018, nearly half of all start-up failures happen due to a lack of market need. Markelytics believes that understanding market research and using the insights to your advantage is vital for start-ups to be successful and stay ahead of the curve.
Adds Jasal Shah, Managing Director & CEO, Markelytics “Technology has changed the world as we know it from what it was a few decades ago. Today most businesses are online, and the digitally native consumer spends most of their time online. Market Research should also keep with the times to connect with this breed of consumers on their turf and in their comfort zone. Our range of new DIY Research Platforms does just that and gives the control back to the marketer & research agencies to help them conduct credible Market Studies at their own pace and within their control.”
Rajesh Bodke, Director, Markelytics quipped, “We expect our new range of DIY Solutions to be of greater use to companies both traditional and new age to assist them in their efforts to better understand the evolving consumer. In this digital era, our DIY platforms are going to reduce the timelines and cost incurred by companies considerably thereby removing redundant steps from the process and shifting the power struggle in data-driven decision making in their favor. We also want the global startup community to become more sharp and adept in understanding the market and consumer behavior through our DIY platforms so that the probability of their success is increased – this is the idea behind our dedicated startup offering.”
Adds a leading Venture Capitalist, ‘Startups struggle often as they fail to understand and uncover insights from new markets other than their familiar territory. This is why you see certain startups strong in some markets with their competitors strong in others. The new range of solutions from Markelytics gives these startups a range of DIY tools in MR, and Technology is something they are comfortable with and gives them the ability to manage and run it on their own. This could help them immensely in scaling and discovering new markets and frontiers.”
Markelytics is offering the ‘Startups Growth Program’ with a slew of early bird offers to help startups adopt this new form of DIY Market Research. Needless to say, the Markelytics backend team is available around the clock to help companies get used to the new technology and tools. The ‘Startups Growth Program’ includes:
● Free 300 Minutes of Subscription to Online Qualitative Solutions per Business Idea/Feasibility Study so that they can conduct online In-Depth interviews/Focus group discussion; an additional 100 minutes could also be given on a case-to-case basis
● 20 Days of Free Subscription to Panel Management Solution Platform to analyze the consumers’ data & engage them better; additional 10 days could be given on a case-to-case basis
● 3 Months of Free Subscription to Feedback System Management Platform with up to 200 survey completes for research study in India completely free; additional 1 month and 100 completes could be given on a case-to-case basis
Following are the services available presently available with the Markelytics DIY Suite:
Online Qualitative Solutions: It is a new-age DIY interactive platform, with multi-sector and multi-functional applicability. The platform gives a 360-degree perspective about the respondents (person who gives the interviews on a particular subject during the research) through one-of-its-kind integrated features, such as Facial Coding, Eye-tracking, Heat Mapping, Backroom Participants, etc. This platform allows respondents to join a video call without any installation and the moderators (or the facilitators) can easily conduct/schedule calls, record meeting sessions, in-call polls with participants and view instant results, etc.
Panel Management Solutions (PMS): This is majorly targeted to panel providers, who have a large amount of panelists’ data & this platform helps in better engagement & management of this data. Moreover, companies can also use this DIY platform to acquire new members and improve the response rate & panel quality. Alternatively, brands can also, use this platform to better engage and manage their consumers & map their journey as well & digital marketers can streamline their marketing strategy and monetize their traffic by converting the visitors into registered members. PMS transforms the way of market research and consumers (or clients) shake hands with the digital revolution to help access and analyze data-driven by technology.
Feedback System Management: Features-loaded DIY platform to create surveys without any technical know-how with multiple question types including image/video-based & SEC based questions. The integrated panel helps to get the survey completes in no time with real-time results.
One more solution, Brands-cum-Private Communities, is currently under development.
One of the early adopters of Online Qualitative Solutions says, “While our app is quite popular in the metros, we are now looking at scaling into tier 2 towns. We found that the Online Qualitative Solutions provided by the DIY platform efficiently and within our control to ensure the feedback generated was relevant to us and authentic. We could gauge a lot of insights sitting at our office, which otherwise would have cost us a lot. We plan to explore more with this platform and reduce the distance between our offerings and customers’ expectations.”
