Time is of the essence in market research. Take immediate action with in-the-moment surveys instead of waiting for those monthly, quarterly, or yearly survey results to roll in. Yawn.
Market research which utilizes exit surveys or intercept surveys offers a ton of benefits for a sponsoring client. In-the-moment feedback is more accurate, offers real-time data, is immediately actionable, and is more credible.
With market research you should be looking for a true reading on a customer experience (CX). One that is accurate, actionable, and in real-time. The benefits of in-the-moment feedback can be addressed with 1 simple example:
A follow-up monthly, quarterly or yearly survey is like a waitress calling you a year after you had lunch at a restaurant to ask you how things went? How was your food? Would you come back? What would you like to see improved?
An intercept or in-the-moment survey is like a waitress asking you how things are going with your lunch at that time? If you are unhappy with it, immediate action can be taken. If your food is cold, they can rewarm it. If you are unhappy with your meal, they can replace it. It's immediate.
That simple example is the major difference and true differentiating factor with in-the-moment market research. Let's go into more detail on the 4 benefits.
Accelerate your insights (and accuracy) with in-the-moment feedback using intercept surveys.
Benefit 1: Accuracy
This may be the most important benefit of in-the-moment market research. The longer you wait to ask for feedback on a topic, the less accurate it will be. This is true throughout any form of market research.
Here is a more relevant look at 2 examples of market research.
Which one will offer more accurate and in-depth feedback?
Scenario 1: Online Survey
In this example, a market research firm sends a survey invite out nearly 12 months after a concert experience takes place. They ask questions about how they would rate the event from last year, what did they like best, what could be improved, how much was spent, and other specific criteria on their experience from nearly 12 months ago.
Scenario 2: On-Site Survey
In this example, a market research firm staffs a team of exit interviewers to conduct a survey as attendees are leaving a concert. The script is the same. They ask questions about how they would rate the event, what they liked best, what could be improved, how much was spent, and other specific criteria on their experience from (literally) moments ago.
In this example, imagine the depth and recollection the participants can offer about their experience. They know exactly what was spent, what drove their rating of a 7, and so on. Accurate and in-depth.
Which is better?
Now, I can struggle to remember things from yesterday, let alone 12 months ago. How accurate do you think the feedback will be if that much time has passed? Do you think it will be more accurate than feedback collected immediately after the experience took place? Didn't think so.
This is one of the strongest cases for collecting in-the-moment feedback. Even more so, it's one of the largest issues and problems with letting too much time pass after an experience took place. Many market research firms will say a week is too long to wait, let alone 12 months.
Benefit 2: Real-time data
Coupled with the fact that the experience and feedback is in-the-moment, the sponsoring client and market research is also afforded the ability to view the data in real-time. Many survey tools offer up an online link which tallies data up to the second of a submission.
This real-time data link can be shared with the client through a passcode protected link. It also helps the market research firm manage and monitor feedback to understand if questions are being interpreted correctly, what the initial feedback looks like, and other project management items.
Intercept surveys with a data link is about as real-time as you can get in the industry.
Benefit 3: Immediately actionable
A disadvantage of a follow-up survey is the fact that it is just that, a follow-up. The event is long-over. The dust has settled (literally and possible figuratively). In many cases you have to wait until next year to make changes. That's a long time to make corrective actions don't you think?
Another benefit of in-person intercept surveys is the opportunity to take feedback and act on it immediately. Case in point? We collect the official surveys at the New York State Fair each year.
One of the common complaints we received on Day 1 of the Fair last year through our survey was attendees not being able to find maps easily. With the significant amount of changes that were implemented at the Fair last year, attendees needed to understand where things were moved.
After decades of minor improvements the Fair underwent an overhaul last year. Even the most experienced fair-goers needed a map. Something that wasn't necessary for most in years past.
We were able to pass this real-time feedback to the client on-site and the map stands were brought to the entrance of the Fair on Day 2. As a result, attendees who walked into the Fair from Days 2 through 12 immediately saw the maps which helped them understand where booths and exhibits had been moved to. This set the tone for a more positive experience.
When it comes to taking action on feedback, intercept surveys can offer immediate ROI.
Here is a picture of our 2016 New York State Fair survey team which collected in-the-moment feedback as attendees exited the event. Suggestions and improvements were passed along to the client periodically so action could be taken. No waiting for a final report, no waiting until next year to take action. We accelerated their ROI.
Benefit 4: The on-site experience and the credibility
Nothing beats being on-site. When it comes to intercept surveys or exit surveys, the interviewing team sets up shop at the exit doors or gates. The interviewing team typically wears shirts or other branded apparel to make the team look official.
This may seem like an after-thought but the branding is very important. Wearing sponsors' logos helps the market research from a credibility standpoint. Respondents are more likely to approach a team and feel comfortable if the team is branded as such versus walking up to a team with random t-shirts or apparel.
Name tags also add to the on-site experience and credibility of the market research. Think about using lanyards at your next intercept survey project.
Contact our Market Research Firm
Drive Research is a market research firm in Syracuse, NY. We have conducted a number of in-the-moment surveys at the New York State Fair, Hays Regional Airport, Syracuse SOHO Business Show, and the Home & Garden Show. View those related case studies below.
Interested in an exit survey or intercept survey project? Call us at 315-303-2040 or send us an email at firstname.lastname@example.org.