I had the pleasure of presenting at the virtual ResTech Conference at New Orleans Entrepreneur Week recently, and it’s amazing how ResTech has taken off. Recently, I wrote about the seismic shift that ResTech is causing; giving businesses automated tools to gather research that allows them to move ahead and respond fast.
Considering what is happening in the world today, ResTech is a game changer. COVID has disrupted just about every area of consumer’s daily life. Things like shopping and healthcare, where we work, and how we spend our money have all shifted. Consumer behavior has been transformed, and through ResTech, organizations can adjust to meet the new normal.
Foresight research is at the core of ResTech, which allows you to get quick feedback about what your customers want right now so you can respond quickly and move in the right direction. It gives you the ability to rapidly innovate, test a hypothesis, get feedback, make another decision, test that decision, get more feedback, and do that all very, very quickly, so you can stay on track. Agile, real-time consumer feedback allows you to pivot at a moment’s notice and still keep moving forward.
Conventional research methods just can’t work during the age of rapid solutions. There’s a risk to not asking the right questions at the right time. Next-generation ResTech companies, such as ours, are making the research process less complicated, technical and expensive, and more accessible, democratized and closer to the business. We take the heavy lifting out and automate it; bringing the voice of the consumer into the innovation cycle de-risks a lot of the decisions that need to be made along the product life cycle.
I’ll leave you with one more incentive; making decisions upfront is cheaper in the long run. Every dollar you spend on pre-production research can be equivalent to tens of thousands in research performed after products are produced. So not only are you getting faster, meaningful research exactly when you need it, but you are getting it at a much lower cost.
Watch my conference presentation (it starts at the 48:15 mark) for more on ResTech, and not only why it’s important, it’s essential.