Our market research company keeps the pulse on the latest and greatest in the industry so you don't have to. We don't just talk market research, we live it, we write about it, and we share it. Our fingers hurt because of it. Often. Learn more about market research basics, tricks, trends, and ideas. Grab a fresh coffee, there is so much here, you'll need it.
Market Research Company Blog
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How Much Does Market Research Cost?
Posted at: 1/23/2023 1:30 PM
The cost of market research depends on a variety of factors – audience, methodology, and incentives to name a few. For example, a simple online survey that collects 100 responses from a general population will be less expensive than a phone survey that collects 1,000 responses from millennial females. While there is no average number for market research costs, it can be helpful to understand what impacts price. In this blog post, we'll discuss these factors in more detail as well as compare
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Measuring Net Promoter Score (NPS) for Retail Stores
Posted at: 1/20/2023 1:30 PM
Even in the age of digital media, word of mouth is still one of the best retail marketing tools for department and online stores. Your customers' perceptions of your business – both positive and negative – have a great impact on your brand’s image. That’s why measuring net promoter score (NPS) for retail stores is important to better understand how likely your customers are to promote or detract from a business. NPS is a metric used to measure brand loyalty. It helps you understand your cus
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Conducting Qualitative Research Interviews: 7 Steps to Follow
Posted at: 1/19/2023 1:30 PM
Qualitative research interviews (often called in-depth interviews or IDIs) are an excellent methodology to dig deep into a topic, product, service, or brand with your target audience. They aim to fully explore mindsets and beliefs whereas quantitative surveys aim to measure. In this post, our market research company will walk you through a 6 step process of conducting qualitative research interviews. Article Contents The qualitative interview steps we'll discuss in this blog include: Defi
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Upward Feedback Surveys: How to Evaluate Manager Performance
Posted at: 1/18/2023 1:30 PM
Giving your boss feedback about their performance is uncomfortable, nerve-wracking, and awkward. So much so, many employees avoid it altogether. After all, managers and leadership teams are the ones responsible for their promotions and salary increases. Despite employees’ hesitancy, it is important for those in managerial positions to get feedback from their staff to know what they are doing well and what they can improve upon. In fact, 82% of workers would consider quitting their jobs beca
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Would Customers Recommend You? How to Find Out
Posted at: 1/17/2023 1:30 PM
No matter how technology advances, word of mouth remains to be the best and cheapest marketing tool for any business. With so many companies competing for attention in the business world, a recommendation from a satisfied customer can take your business to the next level. If you’re reading this, you probably know how valuable customer referral is. But how can you tell if your customer would recommend your business to a friend, family member, or co-worker? Let’s explore further the value of
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Building an Apartment Complex? How to Choose Your Location
Posted at: 1/16/2023 1:30 PM
Location. It’s one of the most critical decisions you will make when building an apartment complex. It’s why it’s important to do your research and be fully informed before breaking ground. While incredibly important, choosing the right location for an apartment complex is not so black and white. There are many factors that can impact its success. Who is the target demographic for the living space? What price point is best for future tenets? Is there a need for living space in the propos
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How to Determine Service-Market Fit in Healthcare
Posted at: 1/15/2023 1:30 PM
When you think about service-market fit in healthcare, you want to think about your service providing enough value to customers that they become your brand ambassadors. Brand ambassadors that help you grow your customer base because they love your service that much. While this is likely every healthcare organization’s goal, it’s surely easier said than done. How can you know if your healthcare service is something people would be interested in? How can you know it is the perfect service-mar
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Investing in Competitive Assessments: Why It's a Profitable Idea
Posted at: 1/14/2023 1:30 PM
We all want to know what our rivals are up to–the good news is that investing in competitive assessment can do just that. Roughly 53% of CEOs are uneasy about rival businesses, according to recent research. But investing in a competitive analysis gives you valuable insight that can propel your company forward–and way ahead of your rivals. In this post, we’ll be covering: A quick overview of rival assessments Reasons to conduct assessments How often you should run assessments Best fiel
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Example Influencer Marketing Campaigns to Inspire Your Next Collab
Posted at: 1/13/2023 1:30 PM
These days, few marketing initiatives are nearly as successful as influencer marketing campaigns. However, this is still a relatively new area of marketing, which means there are still plenty of questions about what an influencer campaign looks like and how to make it successful. Let's take a closer look at some of the most successful example influencer marketing campaigns and what ties them together. These can serve as great examples of how brands can create long-term influencer partnerships
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Customer Acquisition Strategies for Financial Institutions
Posted at: 1/12/2023 1:30 PM
It’s likely you’ve been tasked with growing the number of customers or members at your financial institution. It is no easy task and developing customer acquisition strategies comes with a lot of barriers. But understanding more about the formula to acquire new members or customers in your market will help you develop unique strategies to attack the market and grow your customer base. Challenges of Acquiring New Banking Customers The total market for potential banking customers is capped
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How Target Used Data Analytics to Predict Pregnancies
Posted at: 1/8/2023 1:30 PM
As crazy as that title may seem, the case study is absolutely true. Using big data and predictive analytics can tell a frighteningly accurate story. It also explains how the beloved retailer, Target, used modeling and data analytics to identify women as being pregnant before those same women tell their closest friends and family members. In this case, the brand used data analytics to predict pregnancies to determine purchasing habits of those who were expecting. This Target story may be som
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How Retail Stores Measure Customer Satisfaction (& Other KPIs)
Posted at: 1/7/2023 1:30 PM
Collecting in-the-moment feedback is truly powerful knowing customers just completed their in-store experience. Think about it. Is it easier for you to recall how satisfied you were in a store if your last experience was a week or even a month ago, or is it easier to recall right after you exit the store? In-store surveys, or enter/exit surveys, are a great tool for retail stores to measure customer satisfaction and other key performance indicators. Some of the common questions retail store