Quantitative or Qualitative ? What Would be the Best Method for Your Next Marketing Research ?

Have you considered working on research to improve your marketing strategies but do not know how to proceed ? You may want to understand better your customers or competitors and wonder how can you get useful insights for your company ? If you are willing to do a market research, you have two options which are either collecting quantitative or qualitative data. Both are efficient methods as it can allow you to get useful information for your business strategy. However, you have to make sure to select the appropriate method considering the research that you would like to pursue.

When to Use Quantitative Research ?

Source : https://www.askattest.com/blog/insight/quantitative-vs-qualitative-research-and-how-to-use-each

Quantitative research is used to collect number-based data. The results of these types of research allows you to obtain statistics allowing you to identify trends. Indeed, this type of research is quantifiable and measurable. Quantitative research helps to test and justify assumptions. Survey is the most common method used in quantitative research. According to the consulting organization Circle Studio, quantitative data can be the right method to use when trying to identify communication gaps with the customers. It can also help discover areas of improvement regarding your company’s offering. In order to have more employee’s ambassadors willing to promote your brand, you could also share an internal survey that will allow you to see what could be improved in the business environment to make people proud of working for you. The advantage of quantitative research is that you are less likely coming up with biased assumptions. Moreover, surveying allows you to collect data from a large population.

When to Use Qualitative Research ?

Source : https://www.edx.org/course/qualitative-research-methods-conversational-interv

Qualitative research makes you collect data that are non-numerical. The information are usually gathered through observations or a conversation with a specific target market. The results of qualitative research can help you for example explore the feelings about a service offering or to get insight about a specific product development. Generally, companies use interviews as a way to follow a qualitative research. Here, respondents use their own words to formulate their answers and can for example share how they think about your brand. Qualitative research are usually used to exchange information about a particular topic and help identify a particular patterns about the market. You could choose interviewing an individual person or a group. In addition, interviews can take place in person or in distance (e.g : Phone, zoom meeting, etc). Qualitative Research allows you to obtain a deeper insight about experiences.

Here is below a visual showing the main differences between qualitative and quantitative data :

Source :https://www.slideshare.net/Intellspot?utm_campaign=profiletracking&utm_medium=sssite&utm_source=ssslideview

In sum, there is no best research method as both can allow you to get the information that you need and help you improve your business decision. When selecting a topic for your research according to your company’s objectives, you will now be able to identify which is the best method to use. Indeed, as you now have a clear understanding about the different purposes of quantitative and qualitative research and the impact of both method, it will be easy to select the appropriate method for doing a particular research. Depending on your research objectives, you could also use a combination of both methods to reinforce your assumptions based on the findings. Indeed, quantitative data can be used to support a discussion resulting from a qualitative research.

If you still have not pursued market research for your company, it is definitely time to start collecting qualitative or quantitative data depending on the topic selected. You will be amazed how applying either of these research methods will help you have a better understanding of your competitive advantage and unique selling proposition. Furthermore, you will see how helpful it will be to identify opportunities for your organization. You will also be able to deliver better customer or employee’s experience and make efficient and informed business decision. This will help you generate significant business to your company.