Case Study: Credit Union Survey in Washington D.C. Area

May 11, 2018

Those who understand the value of market research use it well. Survey data confirms gut feelings or provides your organization with brand new insights and direction for marketing, strategy, or operations. In many cases you may think you know what your customers or the market thinks, but sometimes you learn something that shifts your entire marketing strategy.

 

It is better to know, than guess (and guess wrong).

 

 

We love working with credit unions all over the country. Questions about an upcoming credit union survey for your institution? We'd be happy to discuss.

 

 

 

Objectives

An advertising agency partnered with Drive Research to conduct a follow-up survey for a credit union in the Washington, D.C. area. The market research study provided the client with the necessary data to verify the perception of the credit union and if the name is a barrier to  understanding who can join the credit union in the healthcare space. The data from the market research provided the client and the credit union with unbiased, credible, and representative views of its target markets. This market research serves as a follow-up to the quantitative survey and qualitative interviews.

 

 

Approach

To address the objectives at-hand, Drive Research utilized an online and email survey. Online surveys are cost-effective, offer a quick turn-around, are measurable, and gather quality feedback. The combination of these 4 benefits create a strong ROI.

 

Drive Research reached out to prior survey participants where contact information was available and used paid social media to potentially reach new healthcare professionals. Drive Research follows an exclusive in-house approach our team has built for market research. Our method uses a step-by-step and task-oriented approach to project management from kickoff through completion.

 

The survey took 1 to 2 minutes to complete and included 8 questions. The survey focused on 3 target audiences: (1) nurses at large organizations, (2) nurses at smaller organizations, (3) healthcare technicians. These audiences are very niche.

 

It was recommended a combination of spend on social media to reach new Beltway-only ZIP Codes as well as reaching out to prior survey participants across all ZIP Codes be used to collect feedback. Drive Research started with Beltway-only ZIP Codes before discussing opening the fieldwork to include more ZIPs.

 

A total of about 200 qualified responses were collected. Survey respondents were be offered the opportunity to enter a raffle to win 1 of 5 $50 Amazon gift cards.

 

 

Outcomes

The results remain confidential with the clients. However, a number of questions and objectives were addressed in the survey. Respondents were screened to ensure they worked in the appropriate industry and also had an active banking or checking account at a financial institution. Specific age ranges and ZIP Codes were targeted. The core questions centered around eligibility to bank with the credit union and reasons respondents though they could or could not bank there.

 

 

Contact Us

Drive Research is a credit union market research company. We work with credit unions across the country to assist them with their market research needs, survey requirements, and focus groups. Questions about your next market research project? Contact us below.

 

① Email us at info@driveresearch.com

② Give us a call at 315-303-2040

Message us on our website

 

 

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