STAM Research

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of Flow XO, a chatbot builder.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with STAM Research?

We didn’t have an in-depth understanding of our market, so we hired them to conduct user interviews. This would give us a stronger grasp of the different personas of our audience.

SOLUTION

What was the scope of their involvement?

After giving them access to our user database, they put together a questionnaire. They then segmented our users first into different groups, ran an initial online survey, and sent out emails to these groups.

They offered a reward to users willing to do a phone interview — their team was able to record interviews with around two dozen customers. Following that, they compiled all the data, added their recommendations, and presented it to us in the form of a report.

Currently, we’re working on a follow-up project with them. They’re managing our chatbot and providing recommendations to improve our conversion rate.

What is the team composition?

I work primarily with Yasen (CEO).

How did you come to work with STAM Research?

We found them through a freelance service website. They were actually the most expensive among our other options, but they had the most experience. We also had a gut feeling that they would provide us with the best outcome.

How much have you invested with them?

We’ve spent about $8,000 so far. 

What is the status of this engagement?

We started working with them in September 2021, and our engagement is still ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Overall, they’ve done a solid job — the personas they came up with are spot-on, and the quality is very good. We also really like their recommendations based on the data they’ve gathered.

How did STAM Research perform from a project management standpoint?

They’re able to figure out most of the stuff on their own, but they always send weekly emails to provide us updates.

What did you find most impressive about them?

What’s been most impressive about STAM Research is their intelligence — specifically, their team’s ability to quickly understand our market and come up with actionable insights.

Are there any areas they could improve on?

I really can’t think of anything that they need to improve on.

Do you have any advice for potential customers?

Make sure to give them as much information as you can, so they can incorporate everything into their work — the more background information, the better.

BACKGROUND

Please describe your company and your position there.

I am the founder/CEO of a B2C Saas start-up.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire STAM Research?

We were looking to validate our market research and gain in-depth insights on our target customers. We had preliminary research done, but to move forward, we needed targeted consumer personas that would allow us to focus our marketing efforts.

SOLUTION

How did you select this vendor?

We started conversations with a few companies, but STAM Research really took the time to understand our concept and was willing to be flexible in their research methods, as we had certain preferences.

Describe the scope of their work in detail.

First, they started with some secondary research on the overall industry - to define an initial profile of your future customers. After, they focused in on interviews, which further narrowed down the profile of our customer persona. The idea is to get a very thorough insight into what’s happening inside the consumers' heads, including what types of solutions have they sought so far. And finally, they surveyed a sample size of the population to further solidify the findings from the interviews.

What was the team composition?

I worked with Yasen exclusively.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

It's still early days, but we're hoping that the research will support our business case when we raise our next round of funding.

How effective was the workflow between your team and theirs?

We had weekly check-ins at the start of every week, where Yasen would report back on his progress, validate any assumptions and explain next steps.

What did you find most impressive about this company?

They were very eager to ensure complete satisfaction and open to hearing our initial assumptions and preferences. The whole experience felt personalized.

Is there any area for improvement or anything that could have been done differently?

Not that I can think of!