In a competitive marketplace, it isn’t enough to have an excellent product. Smart businesses know that understanding their customers is key. Whether your organization is seeking to launch a new product or gain a larger market share with an existing line of products and services, the best way to succeed is through market research.
While the most common means of market research is through structured surveys, it is important to employ some of these best practices to ensure you are gathering insightful information, including tailoring questions to suit your customer’s needs, pre-testing surveys to be certain you are getting the information you are seeking and using a variety of techniques to collect data. Unfortunately, many of these practices cannot be obtained through structured questionnaires alone.
Businesses that employ the use of both structured and open-ended methods, such as focus groups and interviews which allow customers to answer in their own words, often gain more insightful information. The problem lies in capturing exactly what was said during an interview or focus group and recording it into a spreadsheet that can be accessed and analyzed later.
Unless your marketing team also possesses mad-transcription skills, valuable information may be lost or misinterpreted. Not only that, transcription is time-consuming.
Companies looking for a competitive edge use transcription services that can provide a cleaner and a more organized account of their focus groups. With a complete, unabridged transcription, each spoken line is spelled out clearly in text so that group findings can easily be converted into a database of customer impressions. Market researchers can then search the data for trends or recurring keywords.
By adding transcription services to your organization’s arsenal of market research best practices, you’ll be able to implement product and marketing strategies more quickly and confidently, knowing the information gathered is reliable because it was recorded accurately.