Your Tech Inventory – It Takes a Village (and a Spreadsheet!)

Remember how we talked about defining your north star in the last article? Well, now that you know where you're headed, it's time to take stock of your current ride – your tech stack! This isn't just about what's on your desktop; it's a full-blown expedition into every tool and partner that helps your research team shine.

It Takes a Village

Depending on the size of your market research team, this isn't a solo mission. Think of it like organizing a massive potluck: everyone has a dish, and you need to know what's coming to avoid seven potato salads (unless that's your jam!). Larger teams often have sub-functions, each with their own specialized tools. For instance, at Microsoft, the social listening crew had their go-to gadgets, while the data science wizards had a completely different set. The advertising group? You guessed it, another unique toolkit. These weren't free-for-alls; specific seats were purchased for specific sub-functions.

So, how do you wrangle all this? A shared spreadsheet is your best friend here. Assign an owner for each sub-team to keep things simple and ensure every tool gets its moment in the spotlight.

It’s Not Just Tech That Matters

Now, you might be thinking, "This is about market research technology purchasing, so why are we talking about anything else?" Great question! But here's the thing: your tech doesn't operate in a vacuum. To truly understand its impact, you need to dig a little deeper. Consider these crucial questions for every tool you list:

• What's its superpower? (What are you using it for?)

• How often does it get called into action? (How often is it being used?)

• What magic does it produce? (What is the output used for?)

• Who are its sidekicks? (What other data is it combined with?)

• What's the price tag? (How much does it cost?)

• How's the billing structured? (Paid per project, per quarter, etc.?)

• Is it a dream to use, or a nightmare? (How easy is it to use the tool?)

• Is it delivering the goods? (Are you getting what you need from the tool?)

• Are the folks behind the scenes a joy to work with? (How easy is it to work with the company providing the tool?)

Here's a little secret: your agency partners are just as vital as your tech. They often provide the missing pieces, combining their data with yours to paint a complete picture. So, as you list your tech, make sure your agency partners get a spot on that spreadsheet too, with all the same details.

Final Checks

Before you pop the champagne, there's one last crucial step. Send your inventory to your finance and procurement teams. Why? Because they're the guardians of the invoices and agreements. They'll be able to fill in any blanks or spot any missing pieces. Think of them as your quality control department, ensuring your inventory is airtight.

Next up, we'll take this treasure trove of information and turn it into actionable insights. Get ready to workshop it!