Customer Insights Research

The project was a Consumer Sentiment and Market Outlook study for the banking client, focusing on Hong Kong residents aged 18-65 holding banking products in the region. The fieldwork period for the study spanned from October 18th to November 30th, 2021

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A PM, a Lead Researcher, two Data Analysts, and three Field Researchers

 

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As a Market Researcher, my role involved designing the survey, collecting data from participants, and working with the team to analyze the results and identify key findings
 

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• Understanding the current sentiment regarding Hong Kong property prices and their potential impact on banking customers

• Assessing the intention to buy or sell properties, both locally and overseas

• Identifying the factors influencing property-related decisions, such as political atmosphere and emigration intentions

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• Our team held regular meetings to discuss progress, address concerns, and brainstorm solutions

• We used collaborative tools such as shared documents and project management software to ensure transparency and efficient communication. In case of disagreements, we encouraged open discussions, considering multiple perspectives, and reached a consensus based on objective data and analysis
   

 

The reasoning behind our research decisions included:

• Utilizing a mix of online surveys and face-to-face street intercepts to gather diverse perspectives

• Implementing quotas on age, gender, monthly household income, and working status to ensure representative sampling

• Structuring our survey to capture relevant information such as property ownership, emigration intentions, and property price expectations
   

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• We explored various data visualization techniques to effectively present our findings, such as bar graphs, pie charts, and trend lines

• We also considered different survey platforms and question formats to optimize response rates and data quality
   

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Throughout the project, we iterated on our analysis approach, survey design, and data visualization techniques based on team feedback and client requirements

• We faced constraints such as tight deadlines and limited resources, but we overcame these challenges by

  • prioritizing tasks

  • leveraging available tools

  • collaborating effectively

 

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• Ultimately, our final deliverable was an extensive report that underscored significant findings, market trends, and strategic recommendations. This was tailored specifically for banking clients, providing them with insightful data from this Consumer Sentiment and Market Outlook study, thereby empowering them to make informed business decisions.

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1. Survey Response Rate: We aimed for a response rate of 70% from our total target respondents. We achieved a 75% response rate, meaning we had a high level of engagement and potentially more reliable data.

2. Data Accuracy: We cross-verified 20% of our responses and aimed for an accuracy level of at least 95%. We achieved a 98% accuracy level, indicating a high degree of reliability in our data

3. Insight Generation: We set a goal to derive at least 10 actionable insights from our data analysis. By the end of the project, we had identified 15 key insights, which demonstrated our team's strong analytical skills and the value of the data we collected

4. Client Satisfaction: We conducted a post-project feedback session with the client and used a satisfaction scale of 1-5 (with 5 being extremely satisfied). Our client rated us at 4.8, indicating a high level of satisfaction with our work