4 cost-effective ways to stay connected with consumers

Here are four simple ways to maximise a limited budget and stay connected to consumers when it matters most.
25 June 2020
connecting with consumers
Jennifer Carrea

CEO, Americas and Global Health, Profiles Division

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In recent months companies have started to see that, unsurprisingly, budgets have been under constraint due to the impact of COVID-19. We recognise that the global pandemic has heightened the need to understand shifting behaviours, but also that this can be challenging with a reduced spend for research and marketing.

So, how do you keep your longitudinal data series intact when your budget has been constrained? The good news is that there are some simple ways that can help you maximise this investment and stay connected to consumers when it matters most.

Here are four key tactics to consider:

1. Reduce your sample size

Before you decide to halt your research, which would leave you without the data that is critical for today and longitudinal analysis, ask yourself ‘what do I really need?’ Consider sacrificing the depth of your analysis in the short term by reducing your audience size or quotas. It might be that you can collect enough observations to get top line data from a smaller respondent base and then make inferences for sub-groups. This could help guide decisions for now and keep your data set going at a substantially reduced cost and complexity level.

2. Reduce your question count

Take a closer look at the metrics that are most important for your business and critically evaluate those that are not. You may uncover questions that don’t add a lot of insight over time. With so much change in recent months, it might also be that some of your questions are no longer relevant or should be replaced by something more important for the current climate. You can also review your surveys and leverage tools that help shorten your question sets. For example, try rotating blocks of questions every other wave to shorten each wave of a tracking study.

3. Add questions to existing questionnaires

Consider adding new questions to studies you already have planned. If you have COVID-19 related questions they may not need a new survey entirely. Instead, try adding a couple or even a whole section to an established survey. Those changes could be cost-effective and increase the value of the data you receive.

4. Take a simplified approach to your research analysis

In some instances, you may be unable to run the full level of analysis or project depth that you have done previously. But not collecting the data at all risks leaving you and your business entirely in the dark. If your budget or timings don’t allow for such a comprehensive research project right now, running a quick turnaround field and tab project can give rapid, simple data and avoids a hole in your overall data set. Hopefully, these suggestions will be useful during a time when it is more important than ever to understand people and their behaviours. It is a great time to review existing research programs and make adjustments that will allow you to navigate this new environment and better prepare for tomorrow.

Tips for improving your survey designs

For more specific survey design improvements you can make today to strengthen your insights for tomorrow, fill out the form below. To learn more about this 30 minute on-demand webinar first, click here.

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