Many organizations come to our client survey firm to learn more about their customers. At Drive Research we create a formal and informative process to reach out your clients, ask questions to address your objectives, listen to responses, and aggregate feedback into insights and recommendations.
The benefit of using a third-party presents several advantages. First, using an independent third-party ensures responses are real, honest, and authentic. If feedback goes directly to your organization, some clients may not be willing to share harsh or constructive feedback, fearing it will impact their relationship.
Second, using an expert in the market research field helps ensure the process runs smoothly. Using a client survey firm let's you take advantage of best-practice processes and templates. These also include key benchmarks to compare your performance against others.
The following is a case study recap of an investment research client survey conducted recently by Drive Research.
Objectives
The objectives of the market research included understanding if the client's service is relevant today, how to improve services, how to direct resources to more commonly used areas and initiatives, and to explore client wants and needs. This data was used to create a fact and evidence-driven marketing campaign for the client. This market research served as a roadmap to improve marketing strategies as well as other secondary objectives.
Approach
To address the objectives at hand, Drive Research recommended using an online survey to collect feedback from clients of the company. Online surveys are cost-effective, offer a quick turnaround, are measurable, and gather quality data. The combination of these 4 benefits created a strong ROI. The survey was targeted to both current and former clients.
Drive Research sent survey invitations to a list of clients provided. To further increase the response rate, several reminder emails and phone calls were made to the clients. The telephone follow-up effort consisted reminder calls, reminder voicemails, and completing the survey over the phone when respondents agreed.
Drive Research follows an exclusive in-house approach our team has built for survey projects. Our method uses a step-by-step and task-oriented approach to project management from kickoff through completion. Fieldwork began on Thursday, March 8 and lasted until Wednesday, April 11, 2018 (4 weeks). The survey consisted of 17 questions and took respondents 5 to 7 minutes to complete. A strong response rate of 22% was achieved among current and former clients).
Outcomes
The market research report was compiled into a PowerPoint document and delivered in a PDF. The report included detailed sections from each step of the market research. Our report included an executive summary of key themes, recommendations and action items, an infographic, respondent persona, and an appendix of question-by-question results.
The client received a full Excel CSV file of all survey responses. Drive Research debriefed with the client at the conclusion of the market research through a scheduled conference call.
Here are some of the objectives addressed in the market research:
① What is important when purchasing research?
② How do clients prefer to receive research?
③ Are clients likely to recommend the company?
④ How does satisfaction compare?
⑤ What aspects of the company are clients satisfied with?
⑥ What do clients want to see improved?
⑦ What services do clients find valuable?
⑧ What other topics are clients interested in?
⑨ How much money is spent on research?
Contact Us
Drive Research is a client survey firm located in Syracuse, NY. We work with clients across all industries in many regions across the United States. These services include Voice of Customer (VoC), feasibility studies, and focus groups.
① Email us at [email protected]
② Give us a call at 315-303-2040