Using a statistical sample for market research can mislead companies.
As you may know, traditional market research is conducted by questioning a statistical sample. The types of sampling are usually probabilistic and non-probabilistic: in the former it is possible to identify the margin of error, in the latter not.
Surely you would be forgiven for thinking that the statistical sample used in market research that is most valuable for a company’s decision-making is the probabilistic one… Yet we have a surprise for you: both types can lead a company astray, for several reasons.
It is no accident that we chose not to use a statistical sample during our market research.
But then how do we conduct them?
Slowly, slowly, one step at a time… First we start with the problems induced by sampling, then we will move on to explaining our method to you!
Why shouldn’t a statistical sample be used during market research?
Let us analyze the definition of statistical sample. Having established a population of units, the statistical sample represents the opinion of a multitude of people.
We start by identifying a target audience related to numerous individuals who present something in common with each other and then analyze their opinions through interviews, questionnaires, surveys and more.
The problem with the statistical sample lies both in its definition and in the methods used to obtain the opinions of the people considered.
In fact, analyzing a sample means analyzing a part-often a very limited part-of the target audience. Moreover, interviews and surveys do not allow for unbiased and uncorrupted results, as they should be.
Are you wondering how come?
First, because sample responses can be influenced by numerous factors (the way the questions themselves are phrased, pre-formulated answers in the case of multiple-choice questionnaires, and more)… Second, because the questions are asked in a straightforward manner.
The people in the sample are only allowed to answer the questions they are asked.
They may therefore answer roughly and choose not to give an answer to some questions, choosing a random one when they cannot make up their minds.
Last (but not least) consideration: sampling errors undermine the entire market research outcome.
Read also: Statistical sample for market research: here’s when it’s valid and when it’s not.
What are sampling errors and why do they undermine the success of market surveys?
Imagine you have to bake a cake and follow a recipe to the letter, a procedure you copied from your mother’s recipe book.
300 grams of flour, 3 eggs, 100 ml of milk, lemon zest and juice, baking powder, mix well and then bake at 180° for 40 minutes.
You take out the cake and notice that it is inedible. How is this possible? You had followed every step perfectly!
You call your mother for an explanation and find that you have mistranscribed the quantities of one of the ingredients.
With such a basic error, the end result will certainly not be perfect, quite the contrary.
Similarly, sampling error, when the statistical sample is used in market research, compromises all stages of the survey.
The cause of sampling errors may be random variation or flawed selection:
- Random variation is due to factors that cause an unexpected event, an event that we cannot counteract. For example, we have two drugs that are equally effective for a given condition (both have 60% efficacy in treatment). We want to conduct a study that goes to confirm the equal effectiveness of the drugs… Yet, taken in a small statistical sample, it seems that for that small group of people one of the two drugs is more effective than another. This error can be attributed to random variation.
- Flawed selection occurs when the choice of people who constitute the statistical sample is not carried out randomly. In such a case, it may happen that the analyst himself chooses people subjectively, compromising the entire market research result.
In short, the main problem with statistical sample market surveys lies in the fact that they do not allow us to obtain irrefutable reports.
Considering that we have to deliver these reports to companies so that they can make important marketing decisions, we cannot afford to present fallacious market research–our reputation would be at stake, but so would the reputation of our client companies!
Therefore, we decided to adopt a method markedly different from using a statistical sample. This method is called web listening and allows us to obtain unbiased and error-free market research.
What does web listening consist of and why does it provide extremely more accurate results than statistical sampling?
Web listening literally means network listening. The CMI method involveseavesdropping on what people say online, hundreds of thousands of people, with the goal of solving our clients’ marketing and business problems.
But how do we listen? The net mica speaks!
And yes, it does talk.
Your target customers write opinions, compare themselves, make choices, express preferences–while your competitors adopt strategies and communicate with their customers.
Listening to the network means using powerful software to intercept millions of pieces of information related to your market in order to answer questions about your customers, your target market itself, your brand, and your competitors.
We interrogate software through specific algorithms that allow us to intercept the right information for each individual market research.
Analysis of Big data online, that is, a large, very large amount of data, is far superior to analysis of a statistical sample.
With this method we can listen to what hundreds of thousands of people are saying and analyze every piece of data in a very short time, resulting in accurate reports that are really useful for your business.
Also remember: those who speak without knowing they are being heard are much more sincere and less filtered than those who speak under questioning!
If you need market research that will enable you to make successful decisions for your business, we recommend that you drop the sampling and contact us : we are very curious about what we can do for you based on your particular needs!
