An omnibus survey aims to provide brands with a quick, cost-efficient way to perform extensive market research. It is a quantitative form of marketing research that collects data from multiple participants during the same study.
The mode of data collection along with the number of participants vary from one omnibus study to the next. Some omnibus studies are performed over the phone, through mail or in-person. A notable aspect of omnibus studies is their use for performing market research on both consumers and business participants.
Most omnibus studies are conducted as online surveys.
Get on the bus for omnibus surveys. They are cost-effective and very timely.
Omnibus studies are commonly referred to as piggyback surveys because multiple clients take on the cost of conducting the market research. Those subscribed to an omnibus survey will receive a portion of the information collected and analyzed, with that portion applying specifically to the their unique research objectives.
How does an omnibus survey work?
During an omnibus survey, a market research company will obtain hundreds, if not thousands of responses with the target group. The survey is comprised of standard questions relating to the participants' demographics, including age, sex, occupation, etc.
Along with standard questions, participants are asked a variety of questions that are sponsored by clients. Clients usually pay a dollar amount for each question. Because of this, they are often referred to as sponsors. Any company can become a sponsor as long as they are willing to buy into at least one question.
Once the fieldwork is over, the collected data is analyzed and cross-referenced with the classification data. It is then sent to each client or sponsor in the form of a table or a report.
Why take part in an omnibus survey?
For those in need of last-minute information, an omnibus study serves as a viable, low-cost method of market research that combines both syndicated and custom study concepts. Its syndicated characteristics stem from the fact that multiple clients share the cost of the study. Its custom study characteristics are derived from each client's ability to insert custom questions.
Ideal for research that requires only a few questions
If you're wanting to perform research that involves asking participants only a limited number of questions, an omnibus survey makes this possible. More so, it allows you to perform the study in a cost-efficient manner without having to commit to conducting your own research project.
For omnibus studies, it's best to sponsor a maximum of only five to six questions. If you’re wanting to sponsor more than six questions, a short custom survey will prove more conducive to your marketing objectives.
Great for broadly defined populations
You can only take part in an omnibus study if your target group is the same target group of other sponsors. With that said, this type of survey works well when the population you are studying is broadly defined.
Most of the time, omnibus studies are considered general population surveys. If you have a more defined target group, such as dads with children under the age of 8, then you will likely need to switch to a different mode of research, such as a custom survey.
Variety of formats
Another notable benefit of omnibus surveys is their flexibility. While omnibus studies are often performed online, they are also available in direct mail or over-the-phone formats, with both of these boasting enhanced cost-efficient advantages when conducting market research.
Most importantly, all formats of omnibus surveys allow you to collect valuable, timely consumer insights relating to your sponsored questions.
Solid foundation for future market research
Omnibus surveys often serve as a solid foundation for future research when you're ready to target more specific populations. If this is one of your goals, it is pertinent to keep your future research goals in mind when phrasing your questions for an omnibus survey.
Take for example you are performing research on a product to be used by a broad population of people (those between the ages of 25 and 65). When performing future market research, you can ask specific questions relating to how various age groups within this population enjoy the different features of the product.
For the omnibus survey, however, you will simply ask more general questions, such as which feature of the product is the most helpful.
Contact Our Omnibus Survey Company
Meeting certain criteria is essential to the value of an omnibus study. You should have only a few questions you want to ask along with a broad target population.
Drive Research is an omnibus survey company that specializes in conducting national online surveys. We can help you determine whether an omnibus survey is right for your marketing research objectives.
For more information contact our team below.