You can rule out any market research tool that isn\u2019t geared toward your general area of inquiry. But market research doesn\u2019t work on generalities, so it\u2019s time to get specific.<\/p>\n
While these general questions can help with any research project, this guide will primarily focus on consumer-centered qualitative research tools\u2014and that means you need to think about what kind of participants you\u2019ll need.<\/p>\n
Are there particular demographic segments you\u2019d like to hear more from? Should you talk with your customers or your top competitor\u2019s customers? What geographic regions should you source your participants from? How many participants do you need, and over what time scale? How will you find and screen potential participants?<\/p>\n
Once you define the consumers you want to hear from, it will be key to gain an understanding from potential vendors if they\u2019ll be able to easily recruit these participants.<\/p>\n
2. How Will You Answer Those Questions? Determine Your Research Methodology<\/h2>\n
Once you know what you\u2019re trying to accomplish, you\u2019ll want to align your aims with the specific research methodologies that support those objectives. Consider the following choices.<\/p>\n
- \n
- Qualitative or quantitative<\/span> research approaches<\/span>?<\/span><\/span> <\/em>Do you want to glean consumer insights, digging deeper into the <\/span>perceptions<\/span>, thoughts, and feelings that surround product use? <\/span>D<\/span>o you want hard numbers about how much product consumers use and when they use it?<\/span> Or do you plan to <\/span><\/span>use both<\/span><\/span><\/a>?\u00a0<\/span><\/span><\/li>\n
- Synchronous or asynchronous?<\/em> Can you arrange live interactions with consumers? Or do you want to use preprogrammed question prompts that participants can provide feedback on at any time?<\/li>\n
- Ideal communication methods?<\/em> Whether it\u2019s live or recorded, what methods will you use to interact with consumers? You may decide to use straightforward, but limited, written online surveys or chats. To pick up on subtle body language cues, though, you may prefer to meet with consumers in person or gather their feedback over live or recorded video.<\/li>\n
- Closed or open-ended questions?<\/em> Will you provide multiple-choice responses for your participants to choose between, or will you allow participants to answer questions in their own words?<\/li>\n<\/ul>\n
Take a moment to look toward the future as well. What methodologies do you hope to leverage over the next few years? Do you need one market research platform that can handle a variety of approaches, or do you plan to leverage multiple tools?<\/p>\n
Whatever research methodology you choose, the next question evaluates the data it will generate.<\/p>\n
3. Do These Customer Research Tools Collect Useful Data? Consider Data Quality and Integration<\/h2>\n
If you want the data you gather to fuel smart decisions, that data must be accurate and reliable. It should also integrate with whatever other data systems you use so you can feed data directly into your existing workflows and share data with colleagues throughout your organization.<\/p>\n
Data quality can be a complicated query, but the gist of this point is simple. Don\u2019t waste your time on a qualitative research tool that collects weak data from unreliable sources or unmonitored panels that may be overrun by bots.<\/p>\n
4. How Much Scalability and Flexibility Do You Need? Choose Tools That Can Grow With You<\/h2>\n
Is your company on the fast track to global domination? Or are you settled into your market niche and thinking more about optimization than expansion?<\/p>\n
The degree of scalability and flexibility that you need from a market research tool depends on your company\u2019s growth rate and the diversity and depth of research you want to be able to conduct.<\/p>\n
For example, if you already have a global presence, or expect to expand into new international markets within the next year or two, a qualitative research tool that sources participant panels exclusively from the northeastern US probably isn\u2019t a good fit.<\/p>\n
Try to choose a market research platform that can scale to meet your changing research needs. Otherwise, you may find yourself stuck in a loop, choosing new research tools over and over.<\/p>\n
5. Where Do You Need Help? Acknowledge Your Capabilities\u2014and Your Limits<\/h2>\n
As you think about where your business is and where it\u2019s going, spend some time realistically assessing your capabilities and identifying any weak spots. What skills and resources do you have in house? What do you want your research platform or partner to bring to the table?<\/p>\n
You might simply need access to a research tool. On the other hand, you might decide that it would be helpful to have a partner to assist with:<\/p>\n
- \n
- Sourcing research participants<\/li>\n
- Creating interview transcripts<\/li>\n
- Extracting actionable insights from raw data<\/li>\n
- Conducting statistical analyses of research data<\/li>\n<\/ul>\n
Think about your team\u2019s technological know-how too. Is your organization typically adept at figuring out new tools or does there tend to be a slow ramp-up period? Would you prefer a tool with abundant features and infinitely customizable options or do you just want the basics?<\/p>\n
Make sure your chosen market research tool provides sufficient and timely customer support that will meet your team\u2019s unique needs. And no matter how tech-forward your team is, insist on an interface that your study participants will find intuitive and user-friendly.<\/p>\n
Of course, bells and whistles aren\u2019t free. Let\u2019s turn next to the critical question of what you\u2019re willing to pay for your customer research tools.<\/p>\n
6. What Can You Afford? Understand Your Budget for Market Research Tools<\/h2>\n
Choosing the right market research <\/span>platform<\/span> is a balancing act. If you have champagne taste <\/span>but only<\/span> a <\/span>beer<\/span> budget, you<\/span> should <\/span>probably <\/span>get<\/span> used to drinking beer<\/span> or <\/span>mocktails<\/span> – <\/span><\/span>the sober-curious trend <\/span>is he<\/span>re to stay.<\/span><\/span><\/a>\u00a0<\/span><\/p>\n
First, list the necessary capabilities you need in a market research platform. Then, list any nice-to-have features in the order of their importance.<\/p>\n
Ask whether your existing budget will accommodate all of those needs. If so, you\u2019re good to go! If not, see whether the anticipated return on your investment would justify an increase in your budget allocation. Take advantage of any free trial period that your top contenders offer to test out the ROI you might be able to realize with each.<\/p>\n
Before you sign on the dotted line, though, there\u2019s one last question you should ask.<\/p>\n
7. What Are Your Dealbreakers? Set Boundaries for Your Customer Research Tools<\/h2>\n
Everyone draws the line somewhere. What won\u2019t you stand for? You may be unwilling to work with a tool with a clunky or outdated user interface. Decide what won\u2019t work for you and use those boundaries to cull the list of potential service providers.<\/p>\n
We\u2019d suggest, at a minimum, that any market research tool you use must keep your data entirely secure and confidential. That includes your research design, any inside information about product development or innovation, and all participant responses.<\/p>\n
Confirm that the research tool you\u2019re considering has a data security certification like SOC2 and that it encrypts data both during transmission and at rest. Inquire about additional security measures and make sure you feel confident in the vendor\u2019s responses.<\/p>\n
You may also need to comply with data privacy laws and regulations such as the California Consumer Privacy Act (CCPA) or the EU\u2019s General Data Protection Regulation (GDPR). If so, ask each provider you\u2019re considering what measures they take to satisfy these requirements.<\/p>\n
Find the Answers You Need <\/span>With<\/span> <\/span>Market Research Tool<\/span>s<\/span><\/span> You Can Trust<\/span><\/span>\u00a0<\/span><\/strong><\/p>\n
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<\/p>\nWhen you\u2019ve worked through these seven steps, you\u2019ll have a solid checklist of must-have criteria and hard-pass disqualifiers that you can use to pinpoint the right customer research tools for your company. You\u2019ll also have a good sense of what you can afford and the return you expect to see on your investment in market research technology.<\/p>\n
If you want to know what consumers think about your products, QualSights can give you a front-row seat to the action. Our intuitive, user-friendly <\/span>Smart Platform<\/span><\/a> provides deep, in-context insights into the beliefs, attitudes, thoughts, emotions, and preferences of a wide range of diverse consumers.\u00a0<\/span>\u00a0<\/span><\/p>\n
We also know that consumers sometimes act in ways that don\u2019t align perfectly with their intentions or their beliefs. That\u2019s why we\u2019ve created <\/span>always-on Smart Sensor Technology<\/span><\/a> that tracks consumer behavior in real time as study participants use products in their own homes. That data lets us bridge the say\/dogap and shine a light on the reality of consumer behavior. <\/span>\u00a0<\/span><\/p>\n
No matter what kinds of questions you have about consumers\u2014what they love, what they hate, or what they do when it\u2019s 5:30 on a Tuesday night and everyone\u2019s hungry and in a rush\u2014our <\/span>market research tools<\/span> can help you find the answers. <\/span>Contact us today<\/span><\/a> to learn more.<\/span>\u00a0<\/span><\/p>\n
Interested in seeing a demo of QualSights’ Market Research Tools?<\/p>\n\n\n
- Synchronous or asynchronous?<\/em> Can you arrange live interactions with consumers? Or do you want to use preprogrammed question prompts that participants can provide feedback on at any time?<\/li>\n