Market research is a valuable tool and one that the smartest companies invest in. Companies like Lego, McDonald’s and Apple have been utilizing market research (MR) for years, and dominate their respective markets. But MR is not just for big companies with even bigger budgets; with today’s technology, every company has the ability to conduct research.
In the past, this data took a long time to gather because the only options were focus groups, mailings, and phone surveys. Today’s modern technology makes research more accessible to companies than ever. In 2017, there were an estimated 227 million smartphone users in the United States. Smaller companies can use the data to help their growth, thanks to quick turnaround, affordable options, and personalized service options. We’ve listed just a few of the advantages of conducting research via mobile.
We mentioned focus groups previously, but what we didn’t mention was how costly they are—the average focus group project runs $8,000. With mobile, the audience reach is greater, and the cost is lower. Conducting research with a mobile app guarantees results from your target audience, and at a fixed price.
Researchers are able to access consumers via their preferred mode of communication, which works best for busy consumers. Additionally, the participation rate of respondents is higher, as the respondent can answer from anywhere.
The speed at which mobile research can be conducted is a huge advantage. According to eMarketer, American adults are expected to spend on average 3 hours and 23 minutes on mobile media in 2018. The data visualization mobile app plays a key role in mobile research by providing the benefit of instantaneous results and a shorter wait period. Also, it is perfect for surveys when you want immediate reactions. Answers are given in real-time, while fresh in the consumer’s memory.
Access to a Larger Audience
Market research companies have access to large panels of participants from all demographics. In addition, they have the ability to gather other pertinent information such as geolocation data and reach your target audience in an efficient way.
QuestionPro’s mobile app, MyPinion, is the fastest market research tool that allows mobile users to provide critical insights to leading brands by participating in short surveys. With our mobile panel of more than 250,000 active smartphone users around the United States, you are able to get thousands of responses within minutes with the highest respondent engagement. Our respondents are pre-screened and highly qualified to participate in a variety of research studies of any level of specificity.