Author: Serena Berrey | Editor: Elizabeth Zuponcic
With a variety of research methods, the decision to invest in qualitative research is an important step towards gaining useful consumer insights. Opening the floor to consumer opinions provides an outlet for individuals to share their opinions and experiences on a topic.
Circumventing an in-depth approach may seem like a way to save time and money. Quantitative surveys are a relatively easy way to gather answers to the questions you may have for your consumers.
But there is a significant difference in the value of the information gathered via qualitative research versus quantitative methods. Cheaper options can result in more expensive outcomes, and such can be the case when it comes to conducting market research.
For your consumers, it’s not always all about the money.
Though it’s been mentioned before, it is worth highlighting again that consumers are more influenced by how a brand makes them feel than how much it costs. Furthermore, quantitative research is incapable of translating emotion through multiple choice selections or written responses.
As discussed by QRCA, body language is just as important, if not more important, than verbal responses. A valuable moderator will have been trained to recognize body language responses to the topic and questions.
An issue that can occur when conducting market research are falsified verbal responses. Respondents may feel compelled to provide favorable responses as opposed to being honest. Observing body language can indicate if a respondent is expressing their true opinion.
Additionally, recruiting high-quality respondents will deliver better insights, fulfilling the value of your investment. Your results are only as good as the individuals participating; consulting with an experienced and knowledgeable market research recruitment agency is a must.
To deliver a product and/or service that is desirable, you must know your target market.
Understanding the intent behind purchasing decisions is a critical component to the success of your business. Whether you are creating or improving a product or service, gaining feedback from the right people will maximize your efforts.
Developing a strategy to stand out amongst the competition will undoubtedly increase the effectiveness of your market research efforts. Though qualitative research may seem like a time-consuming and costly undertaking, there are several ways to conduct effective qualitative research that can cater to any timeline and budget. Consulting with a market research specialist will save you the hassle of narrowing down the details yourself.
Investing in qualitative research is a critical tool for businesses. Consumers are the only group more crucial to a company’s success than management and employees. Qualitative research is a strategic investment with the ability to interpret findings in a specific context. It also captures how a given issue may be understood from different positions or angles. This information will always be valuable, as the information can be analyzed, considered and then improved upon for strategic implementation; setting you apart from all the rest.
If you’re ready to take the next steps in obtaining valuable market data, reach out to us at [email protected] for a consultation today. You supply the project, we supply the people!
