If your business is exploiting professional-grade market research – or it’s on your radar screen and will be part of your world in the near future – then you’re certainly on the right track. Forget about the overnight lightening-in-a-bottle success stories (that often turn into epic failure tales) that the media loves to celebrate. Sustainable business success often isn’t sexy or sizzling. It’s built on solid fundamentals, including excellent market research.
Of course, with this being said, market research has evolved considerably – and in some cases profoundly – in the previous few decades, and especially the last couple of years. And while there are many interesting and innovative developments at work such as IoT, social media and Big Data Analytics, among the most impressive is texting.
Indeed, according to research by the Pew Research Center, texting continues to hold the top-spot as the most frequently used smartphone app, and Forrester found that a whopping six billion texts are sent each day (yes, that’s right: per day). Clearly, there’s more going on here than just tweens chatting about Taylor Swift and Justin Bieber. There’s a “motherlode of business gold in them there IMs” — and that’s where market research enters the picture and improves results. According to a leading nationwide market research firm Communications For Research, here are the three reasons why:
Texting Cuts Down on No-Shows
One of the most frustrating aspects of qualitative market research – whether it’s conducted over the web, phone or in-person – is the number of no-shows. Even with suitable incentives, market research participants who previously committed to participating can ghost; sometimes because they get busy, and other times frankly because they forget.
Texting is an ideal way to contact your participants at scheduled intervals prior to their interview or focus group (e.g. a week, three days, the day before, etc.). It’s fast, easy, interactive, and can be automated so that there’s no cost. The better the market research attendance rates, the richer the insights – and the better the results.
Texting Lets You Connect in Real-Time
Because texting is inherently mobile, you can contact participants within seconds or minutes of an event (e.g. taking a car for a test drive, returning an item, etc.) to glean their opinions and insights. In addition to higher response rates, the quality of feedback is often higher because the experience is fresh and memorable.
Texting Integrates with Other Technologies
Many businesses are integrating texting with other technologies, such as IoT, apps and widgets, to get a richer and deeper understanding of their target audience. At the same time, if these assets are perceived as adding value to the relationship, they can lead to more sales. And there’s no better result than that!
Whether you’re researching a new business venture or gathering imperative information about your product or service from your consumers, remember that the next time you perform market research that mobile phone can be used as an important tool to use to your advantage!