How to Make Informed Business Decisions With Quantitative Market Survey Research
Understanding your audience is vital for business success, but research from HubSpot shows that about 42% of marketers don't know their audience's demographic information.
If you want to get ahead of the competition, learning more about the market you're in is crucial. There are various market research methods you can implement, with quantitative market survey research being one of the most commonly used approaches. Through quantitative data analysis, you can gain a more in-depth understanding of your market and what you need to do to achieve your business goals.
So how can you use quantitative market survey research to your advantage? Keep reading to find out.
What Is Quantitative Market Survey Research?
Quantitative market research involves research that is focused on quantifiable data. It often uses different sources for data collection, with surveys being a popular choice.
With quantitative research, the data allows you to look at your company and your research topic objectively.
When to Use Quantitative Market Survey Research
Quantitative market research can be used to support and test marketing activities. These activities can often involve high spending, meaning the consequences can have a significant impact, so using reliable business data can prove very beneficial.
A typical example of this could be launching a new product or evaluating the impact of your advertising. Quantitative market research can help you understand what's happening with your customers and at what scale. You can use it for past, present, or future activities, some examples of which include:
Past activity: What influenced a purchase decision (quality, price, advertising, etc.)
Current activity: Is a specific marketing message or ad more likely to make a user buy a product
Future activity: Would a customer keep buying a product if it had a certain price increase
The questions should ask about something specific such as a price increase, advertisement, or message. The results will then offer validity so you can build upon a hypothesis.
Why Use Quantitative Market Survey Research?
The main benefit of quantitative market survey research is that it uses a statistically representative sample of the market. Data-based results are more objective and can be presented very clearly.
Being able to see data concisely can be very helpful for business decision-making. You can have greater confidence in the results and use the quantifiable information to support your business decisions.
Achieving Business Success Through Market Research
Quantitative market survey research is often one of the most effective approaches to market research. You can gain clear, quantifiable insights into your market and business objectives, to help make better-informed business decisions.
Zintro connects teams looking for qualitative and quantitative market research participants with highly specialized respondents, SMEs, and industry specialists for surveys, interviews, focus groups, and more.
Our network covers 1,000,000+ experts and professionals across thousands of specialties, industry sectors, geographies, and job functions.
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