I was recently explaining the idea of an in-home interview to my husband. “You would never let someone into the house!” he replied, knowing that I would be skeptical, at best, if invited to participate in one. However, I would agree to participate in this type of immersive research. Even though I am unabashedly, undeniably and thoroughly biased, I believe that helps me understand why some of the busiest professionals working in some of the most sensitive and regulated industries agree to do the same.
Yes, financial advisors are busy. Yes, doctors have to be careful about what they say and share. Yet both are willing to meet with us at their offices and talk for rather lengthy periods of time. There are certain industries—financial services and healthcare being two prominent examples—where compliance concerns, traditional thinking and precedent can falsely limit the qualitative method possibilities.
Despite hurdles, we’ve found it is refreshingly possible to leverage a more varied qualitative toolbox with these audiences and in these industries. I’m speaking from experience rather than supporting literature, but I’m sure well-documented human tendencies are at play, such as:
- A need to connect with other humans.
- Curiosity about the questions that will be asked and an opportunity to learn from them.
- Pride at having been invited.
- Sure, the money, too. The math may not work out compared to the professional’s hourly rate, but found money feels better than expected money.
Sirish Mani from The Capital Group and I will be sharing more on this topic when we present, Five Ways to Make Sure Your Market Research Groove Isn’t a Rut, at The Quirk’s Event in California on February 28. We’ll be sharing real-life project examples of what happens when a financial services company borrows research techniques from the CPG world.
If you’re attending the conference, please join us! If you’re not attending but would like to talk about how to tackle this challenge in your organization, please email me or call 404.601.9581. Hope to see you there!