CUSTOMER STORY
Magnificent 7 Software Company Uses Voxpopme Repository to Save 50% on IDIs and Amplify Organizational Intelligence
Overview
The market research team at a leading global software company faced a 57% growth in project volumes, leading to repetitive research and challenges in scaling insights efficiently. They needed a solution to maintain the quality of their insights while handling increasing demand.
By adopting Voxpopme’s all-in-one qualitative insights platform, they automated and streamlined qualitative data analysis, creating a scalable, reusable repository of insights.
This partnership improved operational efficiency, maximized the use of existing research, and enabled the team to manage workloads effectively amidst rapid growth—and it worked.
- 30-50%
- Reduction in costs of research projects
- 50%
- Utilization of existing research insights
- 60X
- Faster qualitative research analysis
Discover how Magnificent 7 achieved a remarkable 50% reduction in IDIs and enhanced their intelligence with Voxpopme.
Before Voxpopme
There were three main challenges the market researcher’s team faced before adopting Voxpopme:
Challenge 1: Scaling Insight Efforts
The organization’s research portfolio expanded significantly, experiencing a 57% growth that brought an overwhelming volume of video content from interviews and focus groups. This volume made it nearly impossible for human analysts to maintain the quality of the insights/recommendations they delivered. Their existing qualitative research tools couldn’t handle the increased scale and needed a complete overhaul.
Challenge 2: Creating a Repository for Reuse and Recycle of Insights
The researcher highlighted a major inefficiency in managing insights: they weren’t effectively reusing the existing repository of valuable research. The absence of a systematic method to leverage past insights led to larger-than-necessary research budgets, repetitive projects, and duplicated insights.
Challenge 3: Manual Labor in Analysis and Re-analysis
The manual effort required to analyze the growing amount of qualitative data was becoming unsustainable. She pointed out the exhaustive and error-prone nature of manually re-analyzing data to ensure consistency across studies. Each project required a new analysis, leading to repetitive and inefficient work – or alternatively, the same analysis was often requested on the same dataset.
Voxpopme Repository Introduced Up to 50% Cost Savings
Introducing Voxpopme’s Repository into their systems, the market research manager for the global software company harnessed significant cost savings by eliminating redundant research projects and analysis while scaling their qualitative research portfolio.
Here’s how they achieved these savings:
Maximizing Existing Insights
The most substantial benefit the organization experienced with Voxpopme is the ability to tap into its existing repository of qualitative research data. Instead of launching new studies, the team first checks the Voxpopme repository to see if they already possess the needed insights. This approach prevents unnecessary spending on duplicate research and leads to substantial cost savings.
“Being able to look back at the research we’ve already done is being really good stewards of the company dollar.”
Picture this
Your executive team is in a high-stakes meeting, discussing strategy. An executive poses a critical question about customer insights. You quickly query the Voxpopme Repository and, within seconds, provide data-backed answers.
Thanks to Voxpopme, your team can instantly access past qualitative research data, making real-time, evidence-based decisions. This maximizes your existing insights and responsiveness.
Estimating the Savings
By reusing existing insights, the company saves:
50% on IDI projects: For projects involving 30 in-depth interviews (IDIs), the research manager noted a cost reduction of 50%.
30% on general population studies: For broader audience studies, using the existing repository to avoid redundant research can save 30%.
Strategic Insight Management
These cost savings highlight the positive financial impact of this large company’s strategic shift in managing insights. With a robust repository of qualitative data in Voxpopme’s centralized insights platform, this software company not only saves money but also enhances the speed and accuracy with which it can respond to new research queries.
This strategy ensures that every dollar spent on research is used efficiently, maximizing the return on investment and supporting better decision-making across the company.
“Using Voxpopme has revolutionized how we approach research at our company. It allows us to dive deeper into specific points and nuances from previous studies, fine-tuning our research focus without rehashing the same questions or duplicating research. For instance, I can seamlessly connect with colleagues working on similar topics, access each other’s findings, and enhance our collaborative efforts. This connectivity not only prevents overlap but enriches our understanding and supports real-time sharing and analysis across projects. Together, we can draw more nuanced conclusions that benefit our stakeholders immensely. This capability is a game changer, fostering a more connected and efficient research environment.”
The Compounding Value of a Voxpopme Repository
Sometimes, efficiency isn’t just about saving money; it’s also about unlocking new levels of productivity and high-quality growth. This organization’s journey with Voxpopme is a prime example.
Voxpopme didn’t only save them time and money. The centralized insights platform also became a catalyst for a much bigger transformation: the stacking of knowledge from individual research projects compounded into a collective repository of insights for the wider organization. Here’s how it happened.
Transitioning from A to B: Reallocation & Cost Savings
By avoiding redundant research through Voxpopme’s repository, this large enterprise effectively reallocated resources from a state of inefficiency (“A”) to a position on the efficiency curve (“B”). This represents tangible cost savings which the research manager estimated around 30-50% per project.
With such savings, they freed up significant funds and resources and reallocated them to more productive avenues.
Ascending from B to C: Stacking Knowledge & Amplifying Organizational Intelligence
Going from “A” to “B” only captures a linear efficiency gain; it saves resources but doesn’t necessarily scale into exponential long-term growth.
However, the real magic happens in the ascent from “B” to “C” — the process of ‘compounding knowledge.’ By compounding knowledge, each piece of insight, no matter how small, accumulates and grows the organization’s intelligence exponentially.
Imagine
Imagine a library where every book read by anyone is instantly turned into knowledge that is absorbed by everyone. No knowledge is isolated; everything learned by one becomes a building block for another.
As the market research manager’s insights from the Voxpopme repository grow, the entire organization climbs higher on the curve of technical progress.
We’re grateful for our partnership with this global software leader and the opportunity to contribute significantly to their innovative projects. By integrating Voxpopme, they have enhanced their ability to derive actionable insights with incredible efficiency. This collaboration not only strengthens our platform but also reinforces our commitment to advancing qualitative research. We look forward to continuing this productive journey with them, driving forward together in pursuit of transformative results.
Aimee Stier VP of Customer Success at Voxpopme
Discover how this software company achieved a remarkable 50% reduction in IDIs and enhanced their intelligence with Voxpopme.