Our market research company keeps the pulse on the latest and greatest in the industry so you don't have to. We don't just talk market research, we live it, we write about it, and we share it. Our fingers hurt because of it. Often. Learn more about market research basics, tricks, trends, and ideas. Grab a fresh coffee, there is so much here, you'll need it.
Market Research Company Blog
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How Long Does Market Research Take?
Posted at: 6/29/2022 12:30 PM
From focus groups to in-depth interviews to surveys, are you left wondering how long market research actually takes? In truth, the answer is that your market research timeline depends on many factors. However, we can provide some more information and context to those timelines below. There are several different factors involved which impact timelines for market research, but the biggest factors are: Understanding the objectives of the research. Developing an effective market research metho
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15 Low-Cost Options for Surveying Employees
Posted at: 6/28/2022 12:30 PM
Employee satisfaction levels are at the core of any business. When employees are unhappy or happy, it’s easily seen in the success of your company. A number of factors can contribute to workplace culture and long-term employment, which is why you need to be using employee surveys to find out what they are. Maybe your employees think your company’s culture is flawed, or maybe they love it. Maybe they feel overworked or maybe they love the flexibility of their job. For instance, a recent sur
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Taste Testing Market Research | How Does it Work?
Posted at: 6/23/2022 12:30 PM
Is there anything more fun than taste testing market research? The answer is clearly no. But let's look beyond the enjoyment for both the organization conducting as well as the participant tasting. In there lies a lot of value and insight in these tests for sponsoring organizations. Fact is fact in retail. If your product does not taste good, it likely won't succeed. Unless you produce olives or wasabi. I personally haven't figured that out yet. Globally, the food market raked in 8.27 trill
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4 Employee Survey KPIs You Need to Be Measuring
Posted at: 6/22/2022 12:30 PM
Gauging employee engagement levels is serious business. Why? Well, depending on how engaged your employees are, your business could be thriving or…not so thriving. Companies that have engaged staff can be up to 21% more successful in profits, according to recent research. So, what is employee engagement? Employees that want to work and put effort into their duties. AKA, they’re excited about coming into (or logging on to) work! This is where using employee surveys to measure key performanc
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How to Group Your Customers into Market Segments
Posted at: 6/21/2022 12:30 PM
When it comes to running customer satisfaction surveys, market segmentation is often a key deliverable from the data. It’s just as it sounds–segmenting populations to better understand the survey feedback. Not only will this allow more insight into the feedback, but it will also let you know more about who your customer base is. By finding out more information about your customer base, you can cater to their needs at an elevated level. In this blog post, we’ll cover the following topics: C
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Market Research with Small Business IT Decision-Makers
Posted at: 6/17/2022 12:30 PM
Looking for detailed feedback from IT decision-makers on an upcoming product or service launch? Market research is a great fit! When launching a new product for IT decision-makers, questions from developers may include: How appealing is this new product and why? What benefits of this new product are most appealing? Are there any benefits that aren’t currently mentioned that should be included? What barriers to using the new product exist and why? A recently completed research interview p
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3 Reasons to Not Use Automated Market Research Recruitment
Posted at: 6/16/2022 12:30 PM
Automation, automation, automation - any Brady Bunch fans? Every industry seems to be moving toward this model, and while it’s something that I understand in the grand scheme of things, there’s one form of automation I will never fully support: qualitative recruitment. This blog outlines the 3 reasons you should refrain from utilizing automated market research recruitment. For a refresher on all things recruitment practices, check out our Ultimate Guide to Recruiting Participants for Qualit
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5 Ways to Attract More Repeat Customers to Your Organization
Posted at: 6/14/2022 12:30 PM
What feels better than attracting new businesses? Turning those people into brand loyalists and repeat customers for life. It's better for business too. According to SEMrush, the probability of selling to an existing customer is between 60% and 70%. And the probability of selling to a new customer is only between 5% to 20%. Despite these figures, 44% of businesses focus on customer acquisition, while only 18% focus on customer retention. There are several customer retention strategies orga
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What is the Cost of Competitor Analysis With a Third Party?
Posted at: 6/10/2022 12:30 PM
The short answer: not as much as you might think. Market research can be seen as pricey, but that’s not always the case. What really matters is the type of project you’ll be using market research for. For instance, you likely stumbled across this post because you're wondering about the cost of competitor analysis. This type of research can be as cost-effective as an online survey or more of an investment that contains many phases and components. While there’s no single answer to this questi
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5 Components of a New Product Feasibility Study
Posted at: 6/6/2022 12:30 PM
Have a brilliant idea for a new product? You probably also have a lot of questions like: Who would buy my product? What audience(s) should I target? What products are competitors? What’s the market share for competitors? How much should I sell my product for? How should I promote my product? A new product feasibility study answers these questions and other key performance indicators. Furthermore, as a product/service distributor, you need to always be thinking of innovative strategies
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Saving Daylight - 68% of Americans Support the Sunshine Protection Act
Posted at: 6/3/2022 12:30 PM
Earlier this year, the Senate unanimously passed the Sunshine Protection Act, a bill that would make daylight saving time (DST) permanent starting in 2023. It’s no surprise that this is a hot topic for early birds, night owls, and everyone in between. So, our market research company decided we wanted in on the action and made a survey about it! After gathering 500+ survey responses, Drive Research was able to gain some unique insight into this divisive topic. Take a look at our key survey f
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Market Research: Is In-House or Outsourced Better?
Posted at: 6/1/2022 12:30 PM
Market research is one of the most crucial things a company can invest in as part of their digital marketing, sales, or overall business strategy. Various types of market research methodologies help an organization understand: Customer satisfaction Competition Pricing models Consumers habits Market trends Product or project feasibility Employee engagement Overall, quantitative and qualitative market research strategies help companies investigate and answer questions that influence the