Indicates whether the organization uses market research to identify the needs of clients and potential clients.
Organizations should footnote the details of the market research that they conduct and the process and frequency with which they conduct the market research. See usage guidance for further information.
This metric is intended to capture whether the organization employs market research. Market research on clients enables organizations to better service their clients by understanding topics such as: the characteristics of their target clients, their clients' needs and preferences for products and for delivery channels, and potential barriers for their clients to access products, among other topics.
Organizations can refer to the SPI4 (http://cerise-spi4.squarespace.com/), specifically Essential Practice 3a1, for additional indicators related to market research. SPI4 is a social audit tool, developed for financial service providers, which can apply to any organization with both social and financial objectives.
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).
June 2022 - IRIS v5.3 Released (current version)
Immaterial change. Minor revision to usage guidance for clarity.
January 2020 - IRIS v5.1 Released
No change.
May 2019 - IRIS v5.0 Released
No change.
March 2016 - IRIS v4.0 Released
No change.
March 2014 - IRIS v3.0 Released
Immaterial change. Minor revision to definition language for clarity.
November 2011 - IRIS v2.2 Released
No change.
February 2011 - IRIS v2.1 Released
No change.
September 2010 - IRIS v2.0 Released
Material change. IRIS ID changed due to framework upgrade. Metric modified to decrease response options.
September 2009 - IRIS v1.0 Released
New metric. Market Research on Clients (M9) was developed via the Original IRIS Working Group.
IRIS Metrics Work Better in Sets
To use IRIS metrics—and the resulting data—to understand impact performance, IRIS metrics should be used and analyzed in generally accepted sets and according to well-defined objectives. IRIS+ gives you access to generally accepted Core Metrics Sets aligned to common Impact Themes and Sustainable Development Goals (SDGs).