Monday, January 22, 2018

The Perfect Number of Features and Levels For Conjoint Analysis


Before one can begin putting together a conjoint analysis project, the very first thing the survey administrator must lay down the foundation and know is which features and attributes to include.


Features (Attributes): The components that make the product profile.


Levels: The different options available under each feature.


At times, survey administrators will receive a very large list of features and attributes that may come from the engineering team. It’s so large that the administrator is unsure which features attributes to start with. When consulting internally, they hear “all of them are important,” and administrators are stuck with designing a highly complex conjoint survey that ends up collecting poor data. Why? The design did not take into account the potential for respondent fatigue from information overload. The project was doomed when it lost sight of what should have been top of mind - what customers really value about a product and service.


What is the perfect number of features and attributes to use for conjoint analysis? The perfect number truly depends on the target audience. The following questions should be asked of all internal teams when working on a conjoint study:

- What features and services are MOST important to them?
- What do they value and are willing to pay more for?
- How price sensitive are they?
- What are their spending habits?


To find out these things about your target audience, it is recommended to do pre-conjoint research. Quick surveys, polls, online forums, sentiment analysis on open-ended responses, and other techniques will highlight the key features and attributes that raise and lower value in the eyes of the target audience. Learn more about valuation research techniques here. These keys are what builds the foundation for a successful conjoint analysis project.


For example, if a shopper were in the market for a smart refrigerator, the features and attributes list would be quite large. Smart fridge shoppers will be reviewing include:


Food Management Systems
A function to create shopping lists and see inside from anywhere with 3 built-in cameras, also set expiration notifications to make sure everything is fresh
Family Connection
Share multiple calendars, photos, notes, and memos
Entertainment
Stream music, videos, watch y TV directly on the Fridge
Smart Voice Activation
Integrated voice-activated features
Flexible Drawer System
Designed for maximum flexibility and convenience
Auto water fill with infuser
Easily create delicious, refreshing flavored water right from your refrigerator
Counter Depth
Sleek, built-in design
Twin Cooling
Maintains both high levels of refrigerator humidity to keep perishable fruits and vegetables fresher longer and dry freezer conditions, which means fewer freezer burns for better-tasting frozen foods
Polygon Handles & Generous storage
Includes a divider and a take-out box to create plenty of space to organize frozen food
Organize contents with ease
Includes a metal shelf, a slide-in shelf, a foldable shelf, 2 crispers, 5 tempered glass shelves, 2 fixed shelves and 3-gallon storage door bins to provide ample space for storing items
LED interior lighting
Bright lights to illuminate the interior
Door alarm
Alerts you when the refrigerator door is accidentally left open to save energy.
Free delivery on appliance orders $400 and up
Free delivery and haul-away.


When designing a discrete choice conjoint,  the focus should lean towards the smart refrigerator features and some interesting features not normally found in a standard refrigerator.

- Food Management
- Family Connection
- Entertainment
- Voice Activation
- Auto water fill with infuser


These noted smart features can be validated through simple pre-conjoint analysis research and shared within the organization to ensure everyone is on the same page, and survey administrators can move on with the conjoint project with confidence.


For discrete choice conjoint studies, we generally recommend the best practice no more than 5-7 features or 5-7 attributes per conjoint question.


To learn more about conjoint analysis and how to get started today, visit https://www.surveyanalytics.com/conjoint/ and sign up for free account.

Wednesday, December 27, 2017

Fighting Trolls And Fake Responses Through Validation Insights

Federal Communication Commission Commissioner Jessica Rosenworcel addresses protesters 

In the age of trolls and bots hijacking the internet, data scientists, market researchers, and insights managers are more important than ever. It's our job to report unbiased feedback and observations. It's our superpower and personal joy to identify fake or biased responses and offer true insights for decision makers and the everyday person. One of our proudest moments of 2017 is being a part of a major net neutrality story. 

On December 14th, 2017, Forbes and other news outlets broke a net neutrality story that "Millions Of Pro-Repeal Comments Likely Used Stolen Identities."  Survey Analytics and QuestionPro, alongside  Startup Policy Labhelped identify stolen identities - 88% of the Pro Repeal comments on the FCC page were stolen identities.

The study found that many of the 23 million comments posted to the FCC site were likely submitted by bots or other non-human sources. According to Jeff Kao, Data Scientist at Metis & co-author of the study, 16 percent of the responses his team received from the commenter email addresses suggested that the Net neutrality comments were submitted without permission. 

The study highlights these key findings:

1. One pro-repeal spam campaign used mail-merge to disguise 1.3 million comments as unique grassroots submissions.

2. There were likely multiple other campaigns aimed at injecting what may total several million pro-repeal comments into the system.

3. It’s highly likely that more than 99% of the truly unique comments³ were in favor of keeping net neutrality.

A bar graph shows the number of survey respondents who say they didn't submit a comment filed under their name, with faked pro-repeal comments in red and pro-net neutrality ones in green. (Credit: Jeff Kao/Startup Policy Lab)


Although the FCC stated they did not have the resources to validate comments, Kao and his team, using the Freedom to Information Act, were able to reach out directly with an emailed QuestionPro survey to 450,000 individuals who had supposedly submitted those comments. The validation survey findings were quite shocking.

“It seemed obvious that someone had cheated,” says Vivek Bhaskaran, founder of survey company QuestionPro, which helped design and conduct the study. “We were expecting the people who said, ‘No, that’s not my comment’ would be evenly distributed between pro-Net neutrality commenters and anti-Net neutrality commenters. When we looked at the data, it seemed obvious that one camp had clearly orchestrated a campaign” opposing Net neutrality.

Both Kao and Bhaskaran declined to speculate which entity or entities might be behind the fake comments.

In 2018, we expect the fight against bots and trolls using validation insights to rise. Companies looking to capture true insights will want to implement an iron-clad validation process to ensure responses and feedback are not manipulated by unknown entities. 


Wednesday, December 13, 2017

Surprising 2017 Holiday Shopping Trends & Consumer Insights


The holiday shopping season is here and deals are bombarding our personal emails and social media. Why is that? Because the shopping experience starts online. People are more comfortable doing research and purchasing online products and services than ever before.

This great infographic from Invesp showcases the 2017 US holiday shopping trends and statistics. Even though people are not spending more money than last year, where they are spending their money matters. Online shopping is the preferred method with Amazon leading the way. US retail e-commerce sales are expected to increase by 16.6% during the 2017 holiday season compared to 2016 and E-commerce's share of total retail sales during the 2017 US holiday shopping season is estimated to reach a record 11.5%.


US Holiday Shopping Statistics and Trends
Infographic by- Invesp Conversion Optimization Services





Monday, November 27, 2017

HubSpot Integration Now Available on SurveyAnalytics

Are you a SurveyAnalytics customer currently using HubSpot to manage site traffic or various email campaigns? SurveyAnalytics now offers HubSpot integration options which will allow you to connect and manage survey results associated with your contacts database.  Tie marketing campaigns with feedback surveys to increase engagement opportunities while collecting insights for marketing and sales, and create a consistent interface between your SurveyAnalytics survey data and your Hubspot contact. The data collected via a SurveyAnalytics survey can then be used to create new contacts or update existing contacts in Hubspot in real time.
To connect to Hubspot via SurveyAnalytics:
Go to Hubspot under the Integrations tab.
Survey Software Help Image
You’ll need to enter your Hubspot API key in order to authenticate.Survey Software Help Image
To know how to get your Hubspot API key click here

Integration Type

SurveyAnalytics supports two types of integration with Hubspot:
  1. Create Contact: This allows you to create a new contact in Hubspot
  2. Update Contact: This allows you to update an existing contact in Hubspot
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In case of the “Update Contact” integration, you’ll need to pass the Hubspot contact_id as custom1.
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Question Mapping

Once the integration type is selected, you can map each question in your survey to corresponding contact properties in Hubspot.
Survey Software Help Image

Once the mapping is saved, the survey is connected to your Hubspot account. For each new response collected, data will be pushed to Hubspot in real time.

Tuesday, November 21, 2017

Why Online Reviews Matter To Consumers



Yelp Factor on Biteable.


Ever heard of the Yelp Factor? As our society continues to evolve into a social economy, more people are turning online to read reviews and ratings of products and services. Stats show prospects will proceed forward to a company's website if they read at least three acceptable reviews. This tells us the voice and influence of a consumer have more sway than the product itself.

Check out the fun video above to learn more interesting stats about the Yelp Factor and ask yourself, "Does my company care about its company perception? How does it manage a different variety of feedback and engage with strong opinions?"

Sound off in the comments. We would love to hear from you!


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