Qualitive research,
quantitative research, Big Qual, data analytics.
All these terms can sound huge and rather confusing for any estate agent wanting to really get to know their customer.
But while it can sound daunting, all agencies really want to do is get the heart of their existing and potential audience to help to drive insights that allow them to truly get
to know their customers and those who may be customers in the future.
The benefits of having truly authentic, unbiased insights into how your agency is perceived in your market is immeasurable. Knowing exactly what people know about you, how they see you, and what they really want from an agency allows you to make business
decisions based on what the market wants, rather than what you think they may want.
So, we explore how you can get truly authentic customer research.
Qual vs Quant – what’s the difference?
Put simply quantitative research is based around numbers. It’s big data sets, statistics and based on figures.
So, things like “net promoter score” or scoring a company on a scale.
Qualitative research is all about the “words”. How your brand makes people feel. Think focus groups, open ended
questions and customer interviews.
Traditionally qualitative research was based on smaller data sets, thanks to the fact that humans had to interpret and analyse words and their meanings, but thanks to AI, a new type of research is emerging “Big Qual”.
This is where machine learning can help to assist humans to understand word driven data sets, but at scale.
Getting under the skin of your audience
The truth is that, as an agency, the method of research is not the big idea. It’s getting the right data that will allow you to make business and brand
decisions that will get you to where you want to be.
Quantitative research has always offered the reassurance of hard figures to enable you to measure performance in
several areas. In a
sales driven industry, this tends to be popular. Think scoring systems and percentages. What would your customers score your service? How many people in your area have heard of you?
However, in an era of social media, online recommendations and instant messaging, words are important. Qual research is something that allows you to drive authentic insights. What do people
say and
think
about your business?
How Know Your Market helps you to drive authentic insights
Here at Know Your Market, we help you to drive real insight with a mixture of both qual and quant services. Our
Net Promoter Score tracker is a
quantitative tool which allows you to measure customer satisfaction tracked over time.
Our
Brand Profiling allows you to dig deep into how your brand is positioned in the
market and uses a mixture of research practices to understand how your agency sits within your landscape.
We work with you to understand exactly what you are looking to measure and achieve and provide you with access to a wide range of research
techniques. From online surveys to focus groups.
