Consumer research is a necessary part of the marketing process. It helps companies determine which consumers are interested in their product and how they will react to it. Conducting consumer research can be expensive and time-consuming, but there are ways to reduce the time and effort needed on your end. Here are some dos and don’ts that companies should follow when conducting and analyzing this research.
1. Outline your goals
This can help you determine what sort of information you need for your business. Are you looking to increase sales? If so, then you would likely want to know if your products or services appeal to specific demographic groups, since certain demographics tend to have more disposable income than others. You may also want to identify potential future consumers who have never purchased from you before. This could lead to greater customer loyalty. By researching these things, you can tailor your advertising campaigns and other marketing strategies accordingly.
2. Offer an incentive to participants
Incentives help ensure the quality of the data you collect. You should offer monetary rewards like gift cards, free merchandise, or even cash. The more incentives offered, the easier it becomes to recruit participants. Participants are often impressed with the kind gestures shown to them during the study; this is especially true for those who are being paid.
3. Ensure confidentiality
When collecting data through a survey, many consumers worry about privacy. Make sure that all information collected is anonymous: no one can trace back personal details such as names, email addresses or telephone numbers. Although you aren’t obligated to tell anyone the results of your study, it can encourage consumers not to lie if they see that everyone else is disclosing similar information. Anonymity can also prevent data manipulation by those wanting to gain an unfair advantage over others.
4. Use various sampling methods
If you want to reach out to a very large number of people, consider using different sampling techniques. Using online surveys can generate enormous amounts of data, while paper surveys are ideal for obtaining detailed feedback throughout the country on a local level. Regardless of the method used, make sure that each sampling technique has been carefully selected to suit your needs.
The Don’ts of Conducting a Consumer Research
1. Don’t conduct the study yourself
You can do better at gathering data than the person who put together your questionnaire. That doesn’t mean that you shouldn’t hire someone to assist you. Hire professionals like NetbaseQuid to administer and analyze your studies properly. They can give you valuable insight into consumers’ attitudes towards your brand.
2. Don’t forget to provide clear instructions
Ensure that all participants receive the same set of directions when taking part in the study. Do not let them choose their own path through the questions. It can be confusing to them, and that confusion can trick them into providing false answers. Allowing people to take their time answering questions allows them to think critically about how they answer.
3. Don’t rely solely on quantitative data
While quantitative data is important in consumer research, don’t overlook qualitative information either. It can reveal valuable insights into what makes your product unique from competitors. Asking open-ended questions can increase the amount of specific information produced. Instead of asking “What does your family do?” instead ask “Why did your mother buy XYZ?” or “How did your family react when they saw XYZ?”
There are various companies specializing in digital marketing, including consumer research. NetbaseQuid is one of the leading companies when it comes to conducting extensive research on behalf of businesses. It has helped many companies achieve their marketing goals.