One of the most common questions organizations have about market research and surveys is how quickly can market research be completed? Whether it is a survey, focus group, or in-home usage test (IHUT) it all comes down to timing. Market research is often thought of as a long, drawn-out process that takes weeks, months, or years to complete if the study is large enough.
Here at Drive Research, we can tell you that is not always the case. Market research can be fast. Insights can be lightning quick. Survey results can be tabulated in no time flat. It all depends on finding the right market research supplier and one that can be agile and flexible to meet your aggressive timeline.
Tick tock. Tick tock. Need to get your market research done fast?
Contact us at Drive Research. After all, it's in our name.
This is the 3 components that impact timing of a market research and how fast it can be completed. In each of these sections we'll talk about some tips that will help your organization move as quickly as possible from kickoff through report.
Strap in your seat belt.
Component 1: Set Up and Design
All market research projects can be broken down into 3 phases. The first is set up and design. This involves drawing out your objectives, choosing a methodology, and drafting your survey instrument. There are a lot of other small pieces here but those are some of the more time consuming parts.
By using an experienced market research supplier, a survey draft can typically be turned around within 12 to 24 hours or sooner if it is short. If you are not experienced in survey writing it may take your team longer. The supplier will often have a kickoff call with your team to discuss objectives. This helps align the survey questions with your goals.
Component 2: Fieldwork
If you want market research completed fast, go online my friend. Online market research is fast and cost-effective. You can obtain thousands of survey responses in as little an hour or hours if your sample is large enough. Compare this to a phone survey where it can take many hours to dial through records. Or a mail survey that needs to be prepped, mailed, and data entered upon return.
Online is your best option. Results can be obtained quickly particularly if the survey is short (15 questions or less). This can be done through either your customer list or using a panel. A panel is essentially an email list rental of respondents.
Component 3: Analysis and Reporting
The final step is analysis and reporting. If your team is only looking for quick charts and graphs they can be exported in as little as an hour. Many market research suppliers like Drive Research share an online link which shows the live tabulations as responses are collected.
If you are looking for something more involved, an in-depth report can take anywhere from a day to a week or 2 depending on the level of analysis you need.
Just looking for a topline report? Shorter. Looking for a breakdown of the Van Westendorp Pricing Model? Longer.
Drive Research is a market research supplier in Syracuse, NY. Our team works with clients in a variety of industries across the country. We work as a full-service market research supplier to design surveys, manage fieldwork, and run reports. We move fast. After all it is in our name.
Email our team at firstname.lastname@example.org or call us at 315-303-2040.