Survey design in research is something that has generally evolved rather than proactively developed with questions phrased in the language of research and designed solely to answer the researcher’s query. What we tend to forget is whether anyone actually wants to read that question, let alone whether it’s engaging enough to make someone want to answer it.
What does personal loan usage look like among your customer segments or within your footprint? In the latest Lightspeed Financial Services Group post, we look at consumer trends across secured and unsecured loans.
Do I want to know? Yes - you need to know!
Today’s researcher is all about gathering data to create insights that provide guidance and strengthen the core business, future-proofing decision making for their company. In truth that only covers the ‘need-to-know’ part; there is a large share of ‘nice-to-know’ insights as well that are gathered for various reasons (e.g., to verify general thoughts or just to satisfy the board, directors, managers and other influential people within organizations). Need-to-know and Nice-to know insights are both based on data.
Our Lightspeed Financial Services Group series continues with another look at credit cards. Consumers prefer a stable rate when it comes to rewards programs, but what do people feel about signing up for a new card all together? In our latest post, we learn what appeals to new card holders.
62% of new cardholders say applying for their new cards didn’t impact the usage of other cards in their wallets – but 38% did cancel or stop using another card, according to Lightspeed FSG’s 2017 New Card Acquisition Study.
Topics: Financial Services
The world of marketing research is constantly evolving – new technologies enable consumers to move onto the ‘next thing’ seconds after engaging with a survey today. Given the fast pace of change with our industry now, ESOMAR initiated a “Research Rally” series to challenge researchers and expand their ways of thinking, and designing.
The notion behind the event was simple – researchers would collectively evaluate local start-ups looking to improve their business model, product or services. Currently Britain is experiencing start-up fever: 80 new businesses were born each hour throughout 2016. However, these rosy statistics are tainted by the fact that 9 out of 10 start-ups fail. In today’s competitive marketplace, lucky guesses are no longer enough to create a successful innovation – the decision to invest in market research might determine a business’ survival.
Our four-part series from Lightspeed Financial Services Group continues with a look at credit card reward programs. Our first post highlighted consumers' views of daily dangerous driving activities, demonstrating how mobile enables risky behavior. Today, we focus on what rewards programs appeal to consumers and how the branded competition stacks up.
Millennials are willing and eager to share personal content (as long as it's relevant) and ultimately crave authenticity. Yet with 83.1 million millennials in the United States, their voices are often underrepresented within typical marketing research forums. So, how do we win their trust and engage them into the marketing research process?
While many consumers agree that using mobile phones while driving isn’t OK to do, the activity is perceived as only moderately dangerous compared to other distracted driving activities. According to a recent Lightspeed FSG study on Dangerous Driving Activities (2016), 45% of U.S. consumers agree completely that it’s never OK to use a mobile phone while driving (65% agree completely or slightly). More than half of respondents observed other drives using their phones while driving. And, older consumers are more likely to agree with this sentiment than younger consumers (37% of 25-34 year olds vs. 59% of those age 65+).
Topics: Lightspeed FSG
- Jamie Turner, 60SecondMarketer.com
Open ended questions generally serve a specific purpose:
- What products/brand/advertisements do you recall?
- You said X, why did you say that?
- Would you purchase/recommend X? Why/why not?
These open-ended questions generate a wider spectrum of codes than the usual standard close-ended questions, especially when the codeframe is kept to a small list, a key aspect in any mobile first survey. However, open-ended questions can also produce less impactful data (sometimes termed as gibberish data) when stock standard question wording is used, as illustrated above. The key to making an open ended question valuable is to frame the question wording to be thought-provoking, making it meaningful for the respondents and making them want to share their views fully, in an environment where this is easy to do.