Published on September 29, 2023 by Akanksha Singh
In our previous blog, “Harnessing consumer insight software for market research success”, we discussed the use cases, benefits, challenges and best practices to overcome the challenges in unveiling actionable insights. In a series of blogs to be published over the next few days, we will analyse some common and most-used consumer insight software, starting with Qualtrics.
Qualtrics has gained widespread recognition for the numerous way it benefits the market research industry:
1. Survey customisation: Qualtrics allows market researchers to tailor their surveys by offering a wide range of survey customisation options. Researchers can create a personalised experience for respondents through features such as the option of creating various survey types – from multiple-choice to open-ended – and make use of features such as ‘skip logic’ and ‘branching’. This flexibility empowers researchers to collect the precise data they need to derive insights as per their research objectives.
2. Multichannel data collection: Qualtrics provides a plethora of data collection options from multiple channels, including, web, mobile, email and offline modes. This versatility helps researchers to reach out to a wider and diverse audience and gather data from different sources, improving the representativeness of their samples.
3. Advanced analytics and reporting: Qualtrics offers robust analytics and reporting capabilities, such as tools for data visualisation, sentiment analysis, and statistical analysis, allowing researchers to analyse data quickly and easily interpret survey results. Moreover, it enables researchers to create interactive dashboards to share insights with stakeholders in a visually appealing and comprehensive manner.
4. Integration capabilities: Qualtrics provides seamless integration with various CRM systems, marketing automation tools, and data analytics platforms. This feature streamlines the data collection and analysis process, reducing manual data entry and risk of errors, while allowing researchers to combine survey data with other business data, providing a comprehensive view of consumer behaviour.
5. Targeted sampling: Effective market research relies on obtaining responses from specific demographics or segments. Qualtrics offers advanced targeting and sampling options to aim for targeted audience and help researchers reach the right audience. Moreover, the software offers options to filter respondents based on various criteria, such as age, gender, location and previous purchase history, ensuring that the collected data is highly relevant to their research objectives.
6. Security and compliance: The software understands the importance of data security and compliance and thus offers robust security measures, including encryption, access control, and compliance certifications such as GDPR and HIPAA. This ensures that sensitive customer data is handled with utmost care and in compliance with legal requirements.
7. Real-time feedback: Qualtrics provides real-time feedback and reporting, allowing researchers to quickly adapt to changing market conditions. Its features such as customer satisfaction monitoring, brand perception tracking and new product launches evaluation enable researchers to stay agile and take data-driven decisions in real time.
Qualtrics has emerged as a powerful tool for market researchers, offering a comprehensive suite of features that enhance the efficiency and effectiveness of research effort. Its various features, such as advanced analytics, systematic and stratified sampling within predefined groups, AI-powered text analytics, custom APIs for integration and stats IQ, enable researchers gather actionable insights, make informed decisions and help businesses to stay competitive in today’s dynamic business landscape.
How can Acuity Knowledge Partners help?
Acuity Knowledge Partners offers the latest technologies, optimal execution techniques, robust quality and extensive research, and enable digital transformation through services including interactive survey scripting and programming, social media integration, interactive online reporting solutions and data processing and visualisation.
Acuity’s Qualtrics expertise include:
Data collection, including employee engagement, customer satisfaction and brand tracking surveys; ability to deliver data in various types
APIs integration for collaboration and business intelligence
Advance data analysis and multiple forms of reporting, including public report (web), sentiment and regression analysis, stats IQ and text IQ
Data visualisation and dashboard customisation
With over five years of experience and supported by a strong, experienced and highly skilled team, we help our clients with customer experience, employee experience and brand experience surveys, and offer solutions such as brand research, product research, market research and ESG research.
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About the Author
Akanksha Singh is a Delivery Lead within the Survey Programming and Data Processing line of business at Acuity Knowledge Partners (Acuity). She holds a PGDM in Marketing and Communication and has over 8 years of experience in business development and content marketing for various industries including IT and ITES, Finance Tech, Healthcare Tech, Environmental services, and the Insight industry.
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