As a Northeast market research company, we launch a lot of surveys across the country. Launching an online survey is a bit like receiving a gift during the holidays. You hope for certain things but you can never be 100% sure what you will get until it's unwrapped.
Market research has a way of surprising you throughout the process, but never more so than during the fielding of an online survey. You tap into past experience and similar projects to make educated guesses but there's always a bit of unknown which keeps it exciting.
When it comes to an online survey launch, you are never 100% sure of what you are going to get. But here are 3 surprises we like to unwrap post-launch.
Here are 3 gifts we like unwrapping at our Northeast market research company when it comes to launching an online survey.
Gift 1: High Completion Rate
One of the great unknowns with an online survey or customer survey launch is the response rate. Will 1% respond? Will 5% respond? Will 40% respond? In reality, this differs quite a bit by industry and company and is often telling of the relationship you might have with your customers.
Some of the best response rates are representative of the bigger picture. In these cases, the customers often have a strong relationship with the product, brand, or service. In cases, where the response rate is poor, it might be an indication of a weaker relationship or tie with the offering.
For example, the response rate for a new home purchase will likely be higher than a response rate to a survey about a purchase of lip balm you just made at a convenience store.
Gift 2: Quality Open-Ends
One of the drawbacks of an online survey is the survey is largely one-way communication. The survey sponsor is at the mercy of how much or how little a respondent is willing to type. In some cases with a panel, the open-ends can be minimally expanded upon.
It is always a pleasant surprise with an online survey when the respondents take a little extra time to offer up detailed, specific, and outstanding open-ended comments in a survey. This could be an in-depth response to "why are you likely to recommend?" Or a detailed response for "why are you dissatisfied with our product?"
High quality open-ends are an excellent gift to unwrap after launching an online survey.
Gift 3: High Incidence Rate
When working with an online panel, one of the estimates that needs to be made is incidence rate or IR. This is the rate in which a sample will qualify for your market research study. If you are looking to survey those who shopped at a grocery store in the past 30 days, the IR would be much higher than those who purchased a new vehicle in the past 30 days.
Needless to say, this IR can vary greatly. After launch, the IR is one of the figures that draws immediate attention to see if your project will remain on budget, come in under budget, or come in over budget, based on the cost per incidence (CPI).
Early on, it is easy to tell where your IR sits. By reviewing the qualification data, the IR will tell an analyst whether 30% of the sample qualifies or 90% qualifies. Higher IR means lower costs for a market research project which makes the Northeast market research company happy and its clients happy as well.
Contact Our Northeast Market Research Company
Questions about your next market research project? Call us at 315-303-2040 or send us an email at email@example.com. You can also reach us on our website by sending us a message here.