Data is the most powerful resource in the current market. When collected quickly, in detail, and with accuracy, market data can create significant value for organizations. Surveys are one the most effective ways to collect data in quantitative market research. There are different survey methods including telephone surveys, online surveys, in-person one-on-one surveys, panel sampling, and mail surveys. However, to ensure the effectiveness of a survey, organizations must choose a relevant suitable survey method keeping in mind their research requirement.
The selection of the survey method is critical as it encourages the collection of relevant data at the right time, thereby helping the organization in making prudent marketing decisions. When in confusion, organizations can consult leading market research companies in India or anywhere around the globe. Their expertise and experience will help you identify a suitable survey method for your research project. Continue reading as we present some of the ways to choose a survey method for quantitative market research.
List the goal of the survey
Businesses can conduct quantitative market research for numerous purposes including gathering users’ feedback about the launch of a new product or service and determining people’s needs. Listing the purpose for which you want to conduct a survey can help you identify the right audience for your survey. Based on the target audience, the selection of the survey method selection becomes clear. For instance, if you need to target a diverse set of audiences in different geographical locations, online and telephonic surveys can be useful.
Ascertain your budget
Surveys like any other quantitative market research involve a cost. Organizations need to select a survey method keeping in mind their research budgets. Different survey methods have different cost requirements. For instance, in-person interviews and panel sampling involve high costs as they involve traveling expenses, while online surveys or CATI surveys require comparatively low investment as responses are recorded through software without the need for traveling.
Create a Sample List of Queries
Brainstorm some questions that you want to gather answers to. This will help you choose a survey method best suited to collect responses. For instance, if your questions are very specific and demand clear responses, you might want to consider, in-mail or online surveys. And if you have open-ended questions, a focus group or one-to-one interview might be better.
After determining your purpose and budget for the survey, analyze which survey methods would best suit your requirement. Consider the pros and cons and estimate the response rate that can be obtained from the survey methods to select an appropriate survey method for your quantitative market research project.
Consult an expert market research company
Quantitative market research like surveys is a useful method of paid market research especially for collecting unbiased and verifiable results. However, when it comes to choosing or selecting specific data about a business, market, target audience, or anything else within a quick time and limited budget, you are better positioned to partner with an expert quantitative market research company. They can not only help you find the best survey method for your research objectives but also help with precise data gathering. If you are interested in conducting quantitative market research like surveys, choose a company with a team of experienced professional market researchers and state of art technologies.
