Gleaning as much information possible from a survey is the
ultimate goal of any market researcher. Deducing how an audience will interact
with the survey questions presented to them is only half the battle. To get the
most out of a market research study, researchers must have the most advanced
conjoint analysis available to them while intriguing, captivating and engaging
their respondents.
The strength of conjoint analysis lies in its ability read
in-between the lines. All consumers are faced with trade-offs during the
purchase experience; identifying which trade-offs matter most to them can allow
market researchers to make more informed decisions for their company.
But often times surveys can feel forced to participants, making
them feel stressed or as if there is a hidden agenda behind the questions. So,
we’ve come up with a few helpful tips when building your conjoint analysis project
so you get as much useful data as possible from your surveys!
Tip #1. Be Honest
In many cases, those taking the surveys on a website are doing
so because they were prompted to, and sense that they are obligated to do so.
Whether they are or not, it is important to relay how important this is to the
visitors, and how much you really appreciate them taking their time to get you
information to make their future experiences that much better.
Tip #2. Discretion
Discrete Choice conjoint analysis provides a number of benefits
for market researchers, but at its core, it makes those taking the survey more
comfortable with providing honest and insightful responses.
While comfortability is an asset, there still needs to be
discernable information that can be analyzed to draw conclusions. Discrete Choice offers market realistic view
of a consumer’s decision making process, as well as well as allowing for much
more complex statistical modeling to be performed, which often yields better
data.
Tip #3. Don't Overwhelm
In many cases, those taking a survey do not want to be doing
so. Overwhelming the users will create cognitive stress that they can associate
with the site, regardless of how reasonable that may be.
Generally, the number of concepts that you choose also depends upon the
number attributes that are being measured. If you have three or less
attributes, then including three concepts per task is a safe bet. But if you
are gathering information for more than three attributes, it’s
best to limit the task to no more than two concepts, so as to not
stress out the users.
Tip #4. Know the Strengths of Conjoint Analysis
Conjoint analysis is based on the principle that for any
purchase decision, consumers evaluate the different characteristics of a
product, and decide what is more important to them. This provides market
researchers with valuable information that can go towards the evaluation of new
products, their variations against products already offered by the company, or
within the existing marketplace.
Using conjoint analysis will ensure that your business can make
better-informed decisions based on information from actual customers. Want to learn more about conjoint analysis? Click here for more information or click below to see it in action!
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