"If saving money is wrong, I don't want to be right!"
Are you facing an on-going demand for insights within a limited research budget? Many of our clients have found this to be the case in recent years, but we have proven that even with limited funds, you can still get valuable insights. For any quantitative research project there are always several options, and you don't always need the "BMW" solution when the "Mini Cooper" version will do! At IIM, we've become very creative in helping our clients get the most out of their research dollars. Here are a few money-saving tips based on three key cost drivers of quantitative research:
The size and composition of your sample can vary greatly depending on your objectives. Make sure you consider the following when selecting your sample:
While there is always the desire to get as much out of consumers as possible, it's a balancing act to keep respondents engaged while getting the level of detail you need. Ask yourself these questions when looking at your survey length:
Cost-effective quantitative research design doesn't have to be like a straitjacket. There are many flexible options that will give you the results you desire. Here are two to keep in mind:
Importantly, don't decide to skip a research project because you are concerned about the funds needed. Make sure you have looked at all the options, from BMW to mini-van to mini-Cooper solutions. With thoughtful planning and design you can get a lot out of your research dollars without sacrificing quality!
See our Quantitative team in action. To see more case studies, click here.
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