Market Research Analysis
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![Blog: Conducting a Conjoint Survey [2023 Ultimate Guide]](/media/4959/sorted-chaos-order-category-division-concept.png)
Conducting a Conjoint Survey [2023 Ultimate Guide]
Posted at: 1/21/2023 1:30 PM
A conjoint survey is one of the most effective ways to help a brand determine the best product features, benefits, and price combinations. When measuring the appeal of a new product concept, it can prove challenging to assess the relative value of each benefit properly. Trying to tackle this through a series of closed-ended questions (select one, select all that apply, ranking) coupled with open-ended questions for context can create a muddy story – one that is hard to apply when deciding on
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Ad Concept Testing Analysis Methods [Examples & Best Practices]
Posted at: 12/20/2022 1:30 PM
Ad concept testing is a critical part of any serious marketing campaign. If you’re going to make a big investment to run new ads, consider a much smaller investment in marketing and advertising research first. Doing so ensures confidence in your marketing strategy. While conducting marketing research is important, the ad concept testing analysis is just as critical to ensuring you are relying on quality data. In this post, I’ll cover five excellent methods for ad concept testing analysis. E
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What is Correlation Analysis? [& How to Conduct It]
Posted at: 12/14/2022 1:30 PM
Correlation analysis is a tremendous tool to use when identifying improvement areas. By providing a distinct perspective on which factors impact your business the most, you can feel more confident in the actions you take after the report. Take customer experience, for example. Let's say you have the overall customer satisfaction score you need. But then, you want to know how that correlates with other aspects of the customer experience. This is where correlation stats are especially helpful
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How Has Market Research Changed Over the Years?
Posted at: 11/17/2022 1:30 PM
At its core, market research is a simple concept to grasp– if you’re going to try to sell a product or service to as many people as possible, it makes sense to research the wants and needs of your customer base. Surprisingly, this wasn’t always the standard. In the past 100 years, market research has changed and revolutionized how companies use these methods to gather crucial insights. Even in the past few decades, technology has changed exponentially. As a result, common types of market re
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Best Qualtrics Alternatives to Help Achieve Market Research Goals
Posted at: 11/2/2022 2:43 PM
Running an online survey seems easy, right? Many free market research resources offer simple ways to write your survey questions, create a link to share them, or invite respondents via email. However, you may or may not realize that you could be biting off more than you can chew. Seeking alternatives to Qualtrics can be trickier than you think. That said, if you’re still dead set on running the survey in-house by yourself, we provide five of those alternatives later in this blog post. But…t
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Using a Conjoint Choice-Based Model to Determine Product Cost
Posted at: 10/19/2022 12:30 PM
Nailing the pricing of a product or service is not easy. Therefore, when businesses use market research, asking how to best price their product or service is always a common request. Feedback on pricing through market research can help a business feel more confident that they are providing an optimal price point for their customers. Unfortunately, there is no easy way to tackle price in a survey. A pricing market research project will present several sophisticated models and approaches to
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Why Market Research Should be in Your 2023 Budget
Posted at: 10/18/2022 12:30 PM
Believe it or not, the new year is right around the corner - and that means it's time to start planning your 2023 budget (if you haven’t already). With every new year comes new objectives, goals, and challenges. How will you choose the right tools to assist your organization in breaking new ground and making 2023 the best year yet? By setting aside a portion of budget dollars for market research, businesses can be assured they are taking a step in the right direction. Types of market resear
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Should I Hire a Market Research Firm? Absolutely.
Posted at: 10/14/2022 12:30 PM
Let me start off by saying: I get it. I completely understand the importance of research results. I’ve directly witnessed large, international companies make major changes based on research I played a part in. I have witnessed products pulled from shelves, actors fired from movies, or a complete rebranding of entire organizations based on feedback collected on projects I played a role. Your market research results matter. A lot. It can be hard to take a step back and hire a market research
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Ultimate Guide to Market Research for Startups in 2023
Posted at: 10/5/2022 7:38 PM
Do you have a great business or product idea? Are you entertaining the idea of launching a startup? Perhaps there is no more exciting time than the spot you are in right now. How do I know? I’ve been there. My startup idea just happened to be a market research firm, so I am very excited to share my expertise on both of these topics. Startup market research can answer the common questions racing through your mind. Combatting the excitement and potential of your startup idea are likely some s
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Website Analytics: Guide to Measuring and Improving (+ Free Checklist)
Posted at: 9/22/2022 12:30 PM
Imagine this. You launch a landing page and see that it’s generating hundreds of page views, but people are leaving the page after a few seconds. Why is that? In the same scenario, you have published a series of blog posts that are generating contact form fills but you can’t tell which post is driving the most conversions. Or, which post is providing very little traffic, and why that is? To truly understand your website users and how well it performs, you need data. And that’s why reviewing
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How to Spot Poor Survey Respondents: Ask These Questions
Posted at: 9/15/2022 12:30 PM
Data quality is always a hot topic when it comes to online surveys. It can feel defeating when a researcher meticulously designs a survey only to find poor data quality lurking in the responses. There are 4 types of online survey respondents that scare the $&#@ out of researchers. The speeder The professional The one who doesn’t read directions The tech wiz Keep reading to learn how to spot poor quality survey responses, what causes illegitimate data, and five unique survey questions to ask
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How to Analyze Quantitative Survey Data: Reporting to the Maximum
Posted at: 8/11/2022 12:30 PM
Analyzing long surveys with endless amounts of data is intimidating, even for the best market researchers. Largely due to the time and attention required for a solid review, extracting the most relevant information from quantitative survey data is a time-consuming process–but for good reason. “Quantitative” refers to broad-scale research – think the bigger picture. There are many common forms of quantitative research we could talk about, but for now, we’ll stick to online surveys. Recently,