Marketing Departments Get the Most Blame — and Credit — for Successful Product Launches New Survey by Insight Lime Finds

DURANGO, Colo., July 13, 2023 (Newswire.com) - Insight Lime Analytics, an analytics and data strategy consultancy, recently released the results of a study conducted to gain an understanding of how businesses research and prepare for product launches through consumer insights research. The study found that while many departments contribute to product launches, marketing often gets the most credit (and blame), as well as finding other notable insights about the research processes of larger companies. 

The survey was designed with statistical significance in mind and targeted individuals focusing on some aspect of consumer insights or product development in companies with at least $1 million in annual marketing spend. The firm has experience creating State of the Industry reports for both startups and larger companies as well as feature-prioritization surveys and customer feedback surveys.

"At Insight Lime, we often create market intelligence surveys for our clients. Since we have the unique skills in-house to produce these insight-driven reports, we decided to create one for ourselves. The results were very illuminating, showing that 92% of companies with marketing budgets over $1 million annually are running customer surveys. This shows where the standard is for all companies — the customer voice matters," said MaryBeth Maskovas, Insight Lime Analytics founder and Principal Analytics Consultant.

The survey found: 

• 92% of companies with over $1 million in annual spend run some type of customer feedback surveys.
• 73% of respondents said executives within their organization sometimes or always change the direction of new product development projects with their opinion.
• 48% of companies surveyed focus their new launches between April and June.
• When it comes to whether or not a product launch was successful, according to the survey, the Marketing and Product departments were the only departments within the survey responses to have more credit than blame for the success of a product launch.

Additional data and more comprehensive overview of the survey and results can be found here.

About Insight Lime Analytics: 

Insight Lime Analytics is a data analytics agency whose goal is to enable marketing and product leaders to feel confident in their data, gain actionable insights to make data-driven strategy decisions, and show their leadership and board members the impact they are making with their products and campaigns. The service-minded team of expert analysts provides insights and clear communication so clients feel confident in their data and show leadership and board members the impact they are making with their products and campaigns. Learn more about what makes Insight Lime unique at www.insightlimeanalytics.com.

Source: Insight Lime Analytics