What value can be added to insights for less than $5,000?
In market research, big findings usually cost big dollars. However, many tools can be added on to qual or quant studies for high impact on value with low impact on budget. These add-ons support business questions through a broader lens, helping you see beyond your day-to-day environment.
Here are 3 high value research add-ons that cost under $5k each, that can be applied to your next research study.
1. Specialized data extraction (SDE) is a data mining service that aggregates content from multiple online platforms (e.g., journals, blogs, news articles, industry publications, social media sites), so that an expert team of analysts can convert it to valuable custom business insight. This added value service complements primary research, accessing a wide span of information to provide context and fill information gaps for any category, therapeutic area, or respondent type.
SDE is so much more than social listening. Working with high-tech tools, a team of trained analysts with expertise in identifying relevant sources finds the relevant signals through the noise, saving the client time and adding value. SDE supports preliminary study design (questionnaire/discussion guide development, hypothesis generation) and has several other applications during the fieldwork and analysis phases.
Click here to learn more about SDE and to read a case study.
2. Video verbatims are a refreshing add-on in a world of text, data and graphs. Video verbatims enhance meaning in results by bringing the voice of the customer directly to stakeholders. Videos enable richer feedback, as respondents communicate freely in verbal and non-verbal forms. Analysis of the tonality and sentiment of responses through facial expressions and body language engages your audience and drives home the main points you want to communicate.
A video verbatim is similar to a standard open text field in an online survey, however, instead of the respondent typing in their response, they record a video of it with their phone, webcam, etc. The key with video verbatims is knowing when and how to use them to enhance standard survey results.
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3. A data append bridges the gap between primary and secondary research by connecting 3rd party data to primary survey data using personally identifiable information (PII). Appending data to your primary research results provides a more comprehensive respondent profile without the expense of a longer survey.
By taking a structured approach to identifying the most valuable variables to append to your primary data, a data append can reveal new insights and an enhanced view of your customers.
Click here to learn more about data appends and to read a case study.
Our team has expertise in utilizing these tools to provide our clients with comprehensive decision support. We’re happy to advise you on relevant add-ons to bring more value to your next study. Email email@example.com to schedule a consultation.