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 to Conduct a Diversity and Inclusion Survey
Posted at: 2/11/2021 1:30 PM
Being a diverse and inclusive organization means employing people with various demographics and characteristics. It is extremely important for every business to achieve a broader perspective in their culture and hiring processes. In fact, 57% of employees want to see their company increase diversity. What’s stopping you? Measuring employee diversity and equality, while important, is a challenge for most organizations. It is a sensitive topic that must be handled appropriately. As a result,
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How to Conduct a Senior Loan Officer Survey
Posted at: 2/10/2021 8:54 PM
Recently, a financial institution partnered with our bank and credit union market research company on a senior loan officer survey targeted to professionals within the mortgage industry. Senior loan officer survey highlights: The survey targeted specific roles/titles of professionals in the mortgage industry. The online survey included 55 custom questions. The results were compiled into a topline summary report which highlighted the key finding of each question. Learn more about the objectives
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How Has Market Research Changed Over the Years?
Posted at: 2/9/2021 1:30 PM
In the past 100 years, market research has changed and revolutionized how companies use these methods to gather crucial insights. However, even in the past few decades, technology has changed exponentially. As a result, common types of market research has been forced to evolve as well. In this blog post, our market research company looks back at the 2000s, 2010s, and the 2020s to see how market research has changed over the years. Market Research in the 2000s In 2003, Fred Reichheld revo
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5 Benefits of Using Text Analytics for Open-Ended Survey Responses
Posted at: 2/8/2021 1:30 PM
Open-ended responses can be tricky data to work with for market researchers. There is undoubtedly value in asking these questions of respondents in online surveys, but the insights are often less obvious. By comparison, listed answer options in a survey can be easily analyzed by just about any data management tool. It is no wonder text analytics is increasingly growing in popularity. What are the actual advantages of using text analytics? Below are five tangible benefits you can expect fr
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What is Data-Driven Decision Making? (And Why It's So Important)
Posted at: 2/5/2021 1:30 PM
As human beings, we often make split-second decisions based on feeling and intuition, without taking the outcome or consequence into account. We can’t always help it, we are emotional and empathetic creatures after all! When it comes to making business decisions, however, it is crucial to take all external factors into account before taking any decisive action. Through the process of data-driven decision making (DDDM) you can ensure that your business needs and objectives are guided by cold
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Case Study: Mothers Participate in Qualitative Research for Kids Learning Games
Posted at: 2/4/2021 5:13 PM
It is no secret parents of young children are strapped for time. This can make it even more challenging to find mothers to participate in qualitative research. However, for organizations such as kids toy brands conducting market research is an important step in developing new products and improving marketing strategies. This was certainly the case for a recent client who contacted our market research company, Drive Research. They wanted to conduct online focus groups with mothers of 3-years
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5 Components of a New Product Feasibility Study
Posted at: 2/3/2021 1:30 PM
Have a brilliant idea for a new product? You probably also have a lot of questions like: Who would buy my product? What audience(s) should I target? What products are competitors? What’s the market share for competitors? How much should I sell my product for? How should I promote my product? A new product feasibility study answers these questions and other key performance indicators. Keep reading as our market research company defines new product feasibility studies and how to conduct them
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How to Improve Contract Renewal with Customer Satisfaction Surveys
Posted at: 2/2/2021 1:30 PM
If your business offers services on a contract renewal basis, you may be familiar with the constant struggle of customer retention. What do you need to do to keep your customers happy enough to renew their contracts? Stop guessing. Start relying on data-driven decision making with customer satisfaction surveys. You could make these decisions based on gut instincts or hearsay from individual customers, but the best way to understand this problem is through proper customer research. For exam
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How to Increase Participation in an In-Home Usage Test Study
Posted at: 1/29/2021 7:22 PM
Finding qualified participants for an in-home usage test (IHUT) study is a critical, yet challenging task of this type of market research project. There is a lot of trust that goes into selecting the right people to test your product without the supervision or guidance of a focus group moderator. To help make this goal of increasing participation in an IHUT market research study a little less daunting, Drive Research shares our step-by-step approach below. Our in-home usage test company was
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4 Factors to Look For in a Market Research Consultant
Posted at: 1/28/2021 7:47 PM
Market research is known for its tools to produce data-driven insights that companies utilize to drive marketing, sales, product innovation, and other key strategies. However, what often goes overlooked is the consultant piece. Market research is a very specialized type of business consulting. It is not something everyone can do and often takes an experienced talent to be done well. Although market research firms may not be as abundant as per say, advertising or marketing agencies, as a buy
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Understanding the ROI of Market Research for Advertising
Posted at: 1/27/2021 2:19 PM
One of the most common questions about market research is about the value and return on investment (ROI) for advertising. Many brands and companies want to know... What am I going to get? What value does market research bring to my advertising and marketing strategies? Is market research for advertising worth the cost? Is it worth the investment? Do I need market research for a successful marketing campaign? These are all asked (or at least thought about) by prospective users or buyers of m
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How to Conduct Parent Focus Groups
Posted at: 1/26/2021 1:30 PM
With the transition to distance learning and reopening schools, parent focus groups have grown in popularity. School decision-makers are turning to parents of students to understand how their classes, programs, and other logistics should be executed based on our “new normal.” For instance, a private school in California contacted our education market research company to conduct parent focus groups online. In this blog post, Drive Research shares our step-by-step process for those interested i