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28 May

Posted at 17:51h in Business, Insights
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Having trouble increasing response rates? Keep reading for some quick tips on how to increase survey engagement. We live in a world cluttered with information, where endless distractions are right at the tips of our fingers. Completing a survey is no match for Candy Crush or checking up on your cute neighbour through Facebook. Let’s face it: as we move up (or down) the evolution chain, our attention span gets shorter. Heck, I even forgot what my point was: anyway, I’ll be lucky if you made it this far in the post. Given the above, the last thing you need is a boring survey. While you cannot control the topic of your survey or sometimes even its length, you can definitely enhance its format. The following are some tips you should always have in mind when designing a survey: Engagement is not just about achieving a high response rate. It’s also about ensuring that everyone gets an equal chance to respond so that you are not only hearing from those with vested interests or those who are just interested in panel points. It’s all about quickly getting well thought-out answers. I’m surprised to see that you made it all the way to the last sentence (or maybe you skimmed to the end). Either way, carry on: Candy Crush awaits. For more information on survey design and increasing response rates for your market research projects, please contact us using the form below: hbspt.forms.create({ portalId: '374811', formId: '05fef899-65c7-408e-9c1d-d9e972faf0c7' }); ...
 

26 Mar

Posted at 20:58h in Business, Research, Whitepaper
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This white paper provides an introduction to statistical and significance testing in market research and answers the following questions: What does statistical testing mean, how is it shown, and how should it be interpreted? Why are there multiple statistical tests, and how are they different? What do terms like “margin of error” and “nineteen times out of twenty” mean, and how are they relevant? Why is a margin of error not reported in online research?   Most of the time when doing marketing research, there is interest in differences between groups. Demographic groups, groups based on psychographics or attitudes, or any number of other slices and dices may be relevant to the researcher. However, for a non-researcher or a new researcher, entering the world of stat testing and interpretation can be daunting. Sometimes researchers forget that most people don’t look at research results all day, and we often forget that not everyone can eyeball a significant difference!...
 

05 Feb

Posted at 23:54h in Business, Insights
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LinkedIn is one of the best ways to broaden your professional network, and it also provides the opportunity to participate in discussions with peers in your field. To this end, joining groups in LinkedIn can be a great way to share best practices and perspectives, gain new insights, and take part in conversations about the market research industry. There are many great groups that are useful to market researchers and focus on a variety of topics such as research, data, presentation, visualization, and infographics. Read below to learn more about ten networking and professional LinkedIn groups that every market research professional should join. 1. Market Research Professionals This is a networking group for professionals involved with market research, competitive intelligence, or strategic planning. The group offers a space for people to connect with others in the industry, as well as share best practices and experiences. Created: April 3, 2008 Type: Networking Group Members: 48,820 2. Market Research This group is for market research professionals who conduct the majority of their research via the internet. Created: November 9, 2007 Type: Professional Group Members: 31,493 3. Next Gen Market Research (NGMR) - The Best MR Networking Group on the Web! As customers and the market change, the market research industry and consumer insights are growing and changing as well. This group is for analytics professionals with more than seven years of experience who are interested in non-traditional market research. Created: September 27, 2007 Type: Professional Group Members: 23,110 4. The Marketing Research & Insights Group The Marketing Research & Insights Group focuses on professional marketing research and insights, and it provides a space for research professionals to socialize, share ideas and perspectives, debate current issues in the research industry, learn industry best practices, find job opportunities, and network with colleagues. The group is open to all members of the market research community. Created: January 17, 2009 Type: Networking Group Members: 35,402 5. Future Trends This group offers member the chance to connect with fellow trend hunters, corporate visionaries, and future thinkers. The group consists of members from a diverse cross-section of industries including marketing, brand/product management, consumer insights, strategic planning, product development, innovation, forecasting, future strategy, and trend tracking. Created: July 17, 2008 Type: Networking Group Members: 268,548  6. Consumer Insights Interest Group The Consumer Insights Interest Group was created to connect professionals who work with consumer insights. In the group, members are encouraged to share experiences and best practices about understanding, uncovering, articulating, and validating consumer insights. Created: April 3, 2008 Type: Professional Group Members: 53,037  7. Market Research Data Visualization The Market Research Data Visualization Group investigates how market research can leverage technology to represent data. In this group, members discuss best practices and share ideas about the most effective ways to present data, whether in PowerPoint or online portals. Created: June 28, 2010 Type: Professional Group Members: 7,509 8. Competitive/Market Intelligence Professionals The Competitive/Market Intelligence Professionals Group is for people who are involved with competitive and/or market intelligence. Members include those who research, analyze, and act on intelligence, and the group provides a forum for discussion and sharing strategies. Created: January 25, 2008 Type: Professional Group Members: 5,619 9. Advanced Business Analytics, Data Mining and Predictive Modeling The Advanced Business Analytics, Data Mining and Predictive Modeling Group focuses on science and analytics. The topics of discussion include data science, big data, visualization, business analytics, predictive modeling, data mining, web analytics, six sigma, econometrics, business intelligence, computational finance, quant, operations research, machine learning, data analysis, data warehousing, risk management, cloud computing, and text mining. Created: September 28, 2007 Type: Professional Group Members: 111,543   10. Infographics & Data Visualization This group offers another perspective on research and data by promoting infographics and data visualization. Members of the Infographics & Data Visualization Group include artists, designers, and industry professionals who work in the field. The group provides the opportunity for networking as well as sharing infographics and other visualizations. Created: October 13, 2011 Type: Professional Group Members: 2,181 *Group stats as of February 4, 2014...
 

30 Jan

Posted at 22:49h in Business, Technology
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Surveys are one of the most important market research tools available, as they provide a great way to gather feedback and capture data. In this article, we present you with the 20 best survey software features that you should look for in a free software tool. There are a number of companies that provide free survey software with the features you need. Free survey software is most useful when you already have a sample plan, a fully developed questionnaire, and a detailed research plan. When considering which survey software to use, review this checklist of features and options to ensure that you are using the tool that will provide the features you need: number of surveys you can conduct question limits per survey respondent limits number of question types real-time results and reports randomization of question options, questions per survey, and number of pages export data in CSV/MS Excel format for analysis randomize and sort answer choices branch questions and use skip logic embed images and videos range of survey templates and themes share the survey results through an online link embed survey into a webpage social media integration through Facebook and Twitter custom branding chart generation of a summary of the results question library for survey creation respondent tracking and statistics poll creation to garner quick answers from your respondents optimized for web and mobile   There are many free survey software tools, such as SurveyMonkey, Survey Planet, FluidSurveys, and QuestionPro. Before beginning a research project, make sure that you have a clear objective for your survey and review the many survey software options that are available.  ...
 

09 Jan

Posted at 08:10h in Business, Insights
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Insightrix recently carried out a series of studies focusing on beer consumption and trends in Saskatchewan, as well as perceptions of various brands. The study included two phases: vox pops with Saskatoon residents and an online survey through our monthly omnibus (OnTopic). The vox pops and survey asked residents about their purchasing and consumption habits, their favoritebrand of beer, and their opinion of the most “Saskatchewan” beer. The video below combines the vox pop and online survey results.  ...

05 Nov

Posted at 22:54h in Business, Insights
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I have spent nearly eight years in higher education and yet I was almost completely unfamiliar with the world of institutional research until I attended the 2013 conference for the Canadian Institutional Research and Planning Association (CIRPA). As a sponsor, Insightrix had a presence at the CIRPA 2013 conference and I was delighted to attend this year’s event. Based on interactions with the individuals I had the pleasure of meeting, I must say that my first CIRPA conference experience was a complete success. CIRPA 2013 was truly a national event, bringing together people from across Canada (and even some individuals from the United States) to discuss important topics facing colleges and universities throughout the country. Although the topics of discussion varied, it became clear near the end of the conference that, no matter where in Canada an institution is located, common challenges exist. Recruitment, retention, inclusion, and development of an institutional culture were the common themes of the conversations I had with several delegates. Though each institution must implement unique solutions based on its specific demographics and geography, homogeneous challenges exist. Above the content and context I gained through conversation, the attitudes of each individual I spoke with truly made CIRPA 2013 a great experience for me. I was able to share laughs, discuss the local economy, and even point out the hip places to visit in Regina to out-of-town delegates. Everyone I spoke with was warm, friendly, inviting, and interested in learning about Insightrix. Something that was true during my time in higher education remains true: the people really make a difference. Blog by Dylan Cody...
 

29 Sep

Posted at 20:25h in Business, Insights
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Quantifying the potential success of a name, product, creative material, and packaging has always been challenging. A new method called Predictive Markets has shown promising results as a way to achieve accurate insights into the future of a concept, at a fraction of the time it takes to examine through other research methods. When New Yorker financial columnist James Surowiecki wrote the book The Wisdom of the Crowds, he shattered the conventional wisdom that a small group of experts is smarter than the masses. Using a variety of secondary sources, he argued that the aggregate wisdom of a crowd is more accurate than polling a trusted expert few. Insightrix has utilized predictive markets to help clients predict the success of their concepts. The predictive market simulates a stock market as it allows respondents to buy and sell shares in different concepts. The study typically includes the following steps: Insightrix designs an online predictive market tool where respondents can log in and participate in the market. Participants are provided with virtual cash and are able to invest as much or as little as they want into the concepts they feel would be most liked by other participants. Based on these investments, stock prices for the concepts dynamically adjust upward or downward. Price adjustments encourage participants to invest more, hold onto strong investments,      reinvest based on changing prices, or sell the investment in less popular concepts. At the conclusion of the market, the total value of participants’ portfolios determines a market winner. Insightrix can provide a detailed report clearly outlining which concept would perform the best in the market. Each concept’s share price reveals how well-liked the concept is compared with the others. The demonstrated advantages of the predictive market include providing a clearly quantified differential between the different concepts as opposed to traditional ranking questions on surveys. In many cases, Insightrix uses a predictive market to identify quickly those concepts with the most promise and then other methods (such as focus groups or in-depth interviews) to get a “deep dive” into what makes them great and how to improve them....
 

26 Sep

Posted at 20:21h in Business, Insights
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In a focus group, a moderator interviews several people at the same time. A typical focus group comprises six to 12 people (participants), but smaller groups can also be held. The reason that focus groups are held is to create and observe group dynamics. Group discussions stimulate dynamic conversations, which lead to discovery, exploration, direction, and insights regarding specific topics. Focus group sessions typically last between one and two hours: the length of a group will depend on the specific goals and the number of topics. Usually, a focus group research project consists of two to ten groups, although there can be more. The number of focus groups varies and depends on research goals number of topics segments schedule budget It is recommended that at least two groups be conducted. There are three ways to conduct a focus group: face-to-face, online, or by telephone. In each of these, moderators direct a free-flowing discussion about topics of interest such as products, services, brands, and advertisements. Focus groups usually occur in specially designed facilities where the rooms have one-way mirrors allowing managers and executives to listen to and observe the participants. The rooms also typically include audio and video recording equipment. A moderator asks questions, follows up with more questions, and keeps the conversation on track. A good focus group moderator makes focus group moderating look simple, yet it requires moderating skill and practice to do well....
 

18 Sep

Posted at 20:09h in Business, Insights
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Market research helps decision makers shift from intuitive information gathering to systematic and objective investigating. Some decisions, where there is a low cost for error, can be made quickly and based on instinct or other informal methods (such as feedback from salespeople or industry experts). Other decisions, where the cost of error is greater, require market research. Typical market research studies that are frequently conducted include the following: market segmentation studies advertising research and tracking customer satisfaction or experience surveys attitude and usage studies brand equity studies concept testing employee satisfaction research competitive intelligence market share studies mystery shopping price elasticity testing citizen consultation white When performed correctly, market research will reduce the chances that an organization will fail by providing the evidence needed to make the proper decision....
 

16 Sep

Posted at 19:08h in Business, Insights
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For some people, the term “research” conjures up images of scientists in laboratories studying furry little animals and conducting chemistry experiments. The term “marketing research” is often associated with telephone surveys or people standing at the exits of the local mall to “just ask you a few questions.” These latter examples of marketing research are only a small fraction of what market research comprises. In essence, marketing research yields relevant, accurate, and timely information about customers, members, and/or stakeholders and plays a critical role in managerial decision making. By knowing what customers, members, and/or stakeholders think, do, and want, organizations can put their marketing research results to creative use and make better decisions. Market research involves asking questions, listening to, and observing customers, members, and/or stakeholders. The methods used in market research include quantitative (e.g., surveys) and qualitative research (e.g., focus groups, in-depth interviews). There is, however, a very wide range of techniques that are used, including mystery shopping, online communities, ethnography, facial expression analysis, social media monitoring and analysis, and literature reviews, among others. The methods used in market research are based on a variety of disciplines such as psychology, sociology, anthropology, business/marketing, and statistics. The method that is chosen will deliver the best research design given the time and budget limitations....