Marketing research is essential to any business. This is the way that businesses determine if their proposed ideas and methods will be accepted and also they way that they monitor and explore how currently in-place marketing strategies and methods are performing.
In effect, without marketing research, businesses are merely guessing at how their marketing strategies are performing, which is incredibly risky. With marketing research, however, there is no guessing. Businesses know what works, and they can then do it on purpose.
However, for most businesses, traditional marketing research takes time, effort, and money, things which most modern businesses already don’t have enough of. That’s why online market research, through services such as Discuss.IO, are so very effective and helpful.
Less Time Consuming
When a business conducts traditional market research, a lot of time is involved.To begin with, the business has to perform research into its demographic and then recruit people who fit into that demographic to be a part of the research panel. Ensuring that people “fit the bill” involves extensive study and pre-evaluation research that can take months or longer to conduct.
The average business is so extremely busy that it doesn’t have that kind of time to invest into finding a research panel, which often leads to poorly conducted and attended studies or other research, which, in turn, leads to poor and inaccurate results, none of which helps the business to achieve its goals, and, in fact, defeats the purpose of conducting the market research in the first place.
With online market research programs, however, the business can hand the responsibility of finding suitable research participants off to someone else, a qualified and expert “someone else.”
In fact, with the very best online market research tools, such as Discuss.IO, suitable participants from around the globe can often be found, recruited, and ready to go in as little as one to two days, saving businesses infinite amounts of time and effort, time and effort which they can much better utilize elsewhere.
It is also wise to think about the many costs involved in traditional market research. As mentioned, there is the cost (and time) involved in conducting pre-research and selecting suitable market research participants.
From there, however, businesses also have to invest in paying travel fees for their participants to come to the research location. Not doing so, i.e. simply selecting participants from a local area, would likely render the study or other research method invalid.
And, in addition to the costs involved in transporting the participants, there are also costs for providing them with lodging, food, and some sort of compensation for their time. All of this can quite easily add up to thousands or even tens of thousands (or more, depending on the scope of the research) of dollars. And, while these types of costs may be somewhat feasible for huge corporations, they are completely out of reach for smaller businesses.
Fortunately for these businesses or for any business hoping to reduce its costs, online market research through Discuss.IO is much more affordable. There are no transport, lodging, or feeding fees. Instead, there is only the fee to use the service, as well as the fee to compensate participants, which can often be extended in the form of credit.
In this regard, online market research is much cheaper and much more “doable” for the vast majority of businesses.
Obviously, online research is a much simpler option and, in many ways, a better one when compared to traditional research. Because of these facts, this option is definitely one worth considering for businesses and corporations of all types and across all industries.1