With market research services, many SMEs were able to make a consistently growing brand.
Moreso, a regular market research, helped SMEs understand their target market, identify consumer problems and pinpoint realistic competitors.
It’s the simplest way to keep up with the current market trends for any business, especially SMEs. Through research, they maintain a competitive edge and in the long run? SMEs could possibly size up bigger businesses.
One of the two categories of research is qualitative market research. Its data is collected by observation or unstructured questioning. These observations and questioning make qualitative research an important aspect of the market research process.
Furthermore, it is usually the first point that starts the whole research and data gathering process.
In this article, Magellan Solutions presents the latest marketing research techniques on how to use qualitative research to better understand your audience and improve your ROI.
Done over the phone, Skype, or in person.
The interview is mainly directed towards an ideal user or even an existing customer. They are then asked a series of questions and follow-ups. The follow-ups are what completes the market research survey that we always have.
As a result, SMEs like you learn what motivates them to buy a product like yours.
We also advise that you prepare some questions in advance to somehow lead the call in a direction you want. But don’t make it sound like a customized script. Customers don’t want robotic conversations.
This kind of data gathering is usually done in person.
But with an outsourced market research firm like us, we make this more convenient with the use of either group calls or chats. Maybe even group video calls for better communication.
Customers, or the group as a whole, feel safe and comfortable knowing that they are not alone in their good and, more importantly, not-so-good experiences.
Focus groups are frequently an advantageous technique for SMEs because they allow you to directly observe customers’ verbal and nonverbal reactions to your product or advertising. As a result, you can begin making mental adjustments and product/service improvements.
Another advantage is that everyone in the group can share and hear everyone else’s thoughts on your product/service. Perhaps you’ll get a direct suggestion on what to improve or change.
This is when you personally observe consumer behavior. You are able to actually watch the consumer react to your product in-store. As a result, you can see their actual shopping behavior in comparison to getting a written survey after some hours, days, or maybe even none at all.
Shop-Alongs useful. You get to highlight challenges that arise from shelf display issues, clutter, or out-of-stock issues. This further gives you a chance to also interact with consumers to get deeper insights during the shopping process.
Our teams, though not able to personally observe, do follow ups. We make sure that we at least get honest feedback once the customer checks out.
These videos allow SMEs to observe how the customers interact with your product in real life, at home.
Our teams receive the videos and review them. Then we create a systemized report to send back to you with all the positive and negative thoughts.
Through the videos, we visually see firsthand if there are defects as well that we can add along to the improvements for the product/service itself.
We also advise in-home videos because you get to observe user behavior in a natural, comfortable environment. This way, they can feel free to simply be themselves.
This is when SMEs attend an event.
A gathering allows you to see an uninterrupted view of your user’s attitudes and behaviors with and without your product. Furthermore, this is another great way to get honest feedback in a comfortable, familiar setting.
This is where you get your customers to voluntarily have a journal. The journal, or even a diary, is where they document their experience with your topic or your product. This can either be handwritten or digital.
But with BPO technology, we encode the written data to digital. Digital versions make it much easier to be shared and reviewed across your department and our agents.
At this point you may be wondering, how do you actually analyze qualitative data after you’ve gathered it?
Qualitative data is unstructured. Thus it is tricky to draw conclusions and present your findings.This is where we come in as a market research firm. Leave us your information below and we’ll get back with a quote!
Contact us today for more information.