An important challenge in the study of conjugated organic materials is to relate the properties of transient states underlying macroscopic material responses directly with intra- and intermolecular structure. We discuss recent efforts using the vibrational sensitivity of time-resolved Raman spectroscopy to interrogate structural properties of transient excited and charge-separated states in conjugated oligomers and polymers in order to relate them to molecular conformations and material microstructures. We focus on recent work with excited-state Raman spectroscopy that provides mode-specific signatures of structural relaxation in oligo- and polythiophenes, examination of structural heterogeneities associated with exciton localization in different structural motifs of amorphous polymers, and interrogation of correlations between microstructure and properties and dynamics of charge-separated states within polymer aggregates. On the basis of these recent efforts, we provide an outlook for further applying this method to elucidate relationships between the structure and properties of transient states and the photoresponses of conjugated materials.