Traditional market research methods may give you a sense of comfortableness, but you would be missing out on better options by still sticking to them. Following the same traditional method of research is actually compromising on quality with knowledge. While there are many businesses who still stick to the traditional methods of research, we recommend that sticking to only one method can keep you away from gathering the best quality data. Here are some drawbacks of traditional market research that you should consider.
Drawbacks Of Traditional Market Research
1. It’s out-of-date
Businesses are progressing in the way they interact with technology and each other. To keep up with the rapidly changing business environment, even research methods should need a new approach. Think of landlines with respect to market research, there is one simple word that defines it all – It’s Out-Of-date.
2. Biased Feedback
Since these days users are gaming the system, participants tend to tell survey-takers what they want to hear, these make the feedback heavily biased. With survey forms, incentivized surveys, and even fake data, business land up getting skewed results which are quite unpredictable.
3. Questionable Data Quality
Traditional methods of market research get very low people participating in the surveys. Even the type of people taking those surveys may not be symptomatic of the desired research subject. This would result in low data quality.
4. Too Expensive
The outdated research methods are very expensive. Organizations have to spend money on incentives and multiple survey phases, to get more participants and meet statistical significance.
Traditional market research might sound very comfortable, but is it still the best available option to reach your marketing goals? As a market research service provider, we would encourage you to get out of your comfort zone. It’s time to try the trick to unlock valuable data and insights with our Market Research Services. Our innovative marketing research techniques will take your business to new heights. Contact iSN Global Solutions for any market research needs right away!