When you rely on relevant, targeted market research to build your brand and deliver sales, it is important to get it completely right. What’s the value of market research that has been inaccurately sourced, or wrongly interpreted? Market research needs to be in-depth, rich, and error-free. The accurate data can then be used to launch a new product to market, deliver changes to a service, or design a new sales strategy.
Market research can be time consuming. It is also an intensive activity when it is carried out in an in-depth fashion. Interviews, focus groups and other market research activities generate a lot of data. Many companies rely on an outsourced transcription service to make sense of this data and present audio information in written form so it can be analysed and used. Here’s what you need to know about transcription for market research purposes.
Transcription for Market Research Interviews
A market research interview can be a quick poll on the street designed to find out the answers to simple yes/no or multiple choice questions. This type of interview is designed to specifically find out about the value or perception of a certain product or service. A more in-depth market research interview may also take place, which expands on certain questions and allows the interviewee to answer more freely. These interviews are targeted at a cross section of the target audience. Professional transcription services make it easier to see the data – a transcribed document is easy to read, formatted to be ready for reports or discussion, and accurately shows what participants actually said. Transcription is a good way of dealing with the data from market research interviews as it takes a large volume of data and makes it more accessible.
Transcription for Market Research Focus Groups
Market research focus groups typically take the form of a meeting where the discussion about a certain product or industry is guided by a moderator, but participants have freedom to give their own point of view and expand the discussion in relevant directions. Depending on the subjects discussed and the number of participants, focus groups can result in a large amount of data. It is essential that this data is accurately transcribed so that it can be analysed and used in a professional context.
Transcription Helps You Make Decisions
One of the values of transcription services is that transcription helps you make high-value decisions. It can be hard to notice the important and relevant aspects of an interview or focus group when it is not accurately recorded and transcribed into a clear and accessible format. High quality data leads to better decisions and, ultimately, a more successful product launch or brand development project.