By Mitch Rice
Qualitative and quantitative market research provides companies and businesses with different perspectives, even if your audience is the same. Qualitative research enables you to have a more detailed and rich outlook of your company. On the other hand, quantitative surveys will give you hard statistics, for example – how many people like/dislike your product. Suppose you are into the beauty business; you can incorporate beauty market strategy by keeping an eye on both qualitative and quantitative research. Combining both of them will help deliver vital benefits to your business and company. Let’s see how their combination will provide you with better results.
Holistic picture – Putting quantitative and qualitative market research on the same page with the help of a unified platform allows you to see a holistic picture. In this way, you can easily have a multi-stage discussion to validate a hypothesis and gain its understanding. It will help you get a clear picture before testing a solution or particular software.
Power of online research – The advent and increase in digital channels make it easy for companies to get more accessible ways to measure qualitative insights. Seeking the assistance of a qualitative research company to give you the required insights can work well to form practical strategies in favor of business. These research companies can consider collecting the data with the help of quick polls and surveys in a unified manner.
Combine why and what – If you are worrying over the fact of running a multi-stage process to gain desired outputs from qualitative and quantitative research, you need not to. Simply use the methodologies of quantitative and qualitative research and get the answers you want. For instance – A study has found that nearly 80% of e-commerce buyers add products to their carts, but never really finalize the transactions. This cost businesses huge losses. So, rather than going for the quantitative figures, going qualitative will let you analyze the reasons why customers are not making the purchase. You will get a deeper insight into consumer behavior.
Automation drives agility – Both qualitative and quantitative research follow different approaches to collect, analyze and report the results. With the advancement in technology, you can choose to seek the help of even a single platform to handle both the qualitative and quantitative aspects. In earlier times, it was very time-consuming to do qualitative research. But with the increase in the research companies, the process has gained much pace with quality results.
Connect with your audience –With the increasing competition, brands really need to put their efforts into building strong connections with the customers if they want to retain them. You need to develop empathy with them and have a greater understanding of the market. Combining qualitative and quantitative research helps you do that. It enables you to build an emotional connection with the audience and address their needs directly.
To sum it up
Believe it or not, you will be able to meet more business challenges quite effectively by combining the methodologies of qualitative and quantitative research. So, gain deeper insights with research and form the best decisions for your business.
Data and information are provided for informational purposes only, and are not intended for investment or other purposes.
