Companies that offer consumer products and services rely, to a large extent, on repeat business from their customers. Using tracking studies as a way to gauge current results in relation to past performance and existing expectations is an excellent way to ensure their offerings, messaging, and service are performing as desired, to test incremental changes, and make plans for future improvements.
The following is a look at how one company with a common research question may benefit from quick-hit brand measurement and tracking research, streaming insights at an affordable price.
An online travel agent service prides itself in offering travelers the best available rates, providing their customers with the security of knowing they received a great deal without the hassle of searching through all the competitive travel websites.
In the hope that their message of great rates coupled with stress-free travel planning reaches their audience, this company focuses much of their marketing effort on their brand. It’s a competitive field. Many sites offer the same low-price guarantee. The company knows, then, that how their audience perceives their brand is a top concern.
In order to continually monitor audience perception, and enable them to make incremental adjustments as needed, this company needs feedback from their audience at regular intervals.
In the past, employing traditional marketing research methodology, this company has commissioned a bi-annual study to cover all of their brand perception questions. Because the study is quite costly and takes two to three months to complete, they bank any other research questions that may arise (i.e. concept testing for potential additions to their website, or marketing, messaging and branding for their website design and utility) for inclusion in the bi-annual study.
But, there is another option that could be better for this company: quick-hit research. Since the company is looking for specific brand perception information, an AAU (Awareness, Attitudes and Usage) study could be conducted through a quick-hit research platform.
AAU would not only give the company insight into their overall brand perception, but would also aid in tracking - conducted at regular intervals, these studies would provide clear comparators for recent scores, allowing the company to establish a current benchmark, while also measuring improvements or declines in performance over the past periods (month, quarter, etc.).
The benefits of conducting brand awareness and tracking research through a quick-hit platform are clear – a savings of both time and the research budget. Because the survey is shorter (think single-objective), the turn-around time for gathering data and returning analyzed results is much quicker. In their competitive market, time savings are invaluable, as data that is six-months old may be outdated.
And because the survey is shorter, the contracted researcher’s time is reduced, lowering the study’s fees significantly. The entire research budget is not spent on two massive bi-annual studies, but is instead invested into regular fielding of the survey, allowing for a near-continual flow of information. The cost savings also allows for additional research questions that arise throughout the year to be fielded on their own in individual quick-hit studies. The data they need, when they need it, without breaking the bank.
Actionable Research’s quick-hit solution, Insight Streamer, would be a great fit for this company. With pricing starting as low as $4,995, we can take this single-objective study and return fully-analyzed results in as little as two weeks.
If you’ve been tinkering with a new idea, but need to quickly and affordably verify your hypotheses before taking the next steps, or if you have specific questions about brand, pricing, or messaging, and need affordable answers quickly, Actionable Research proudly offers Insight Streamer. Contact us today to learn more about Insight Streamer, and whether this platform is right for your marketing research needs.