MD If you are looking for advanced marketing research strategies that can provide more information you were not aware of before, get those here!
Tested Market Research Tactics with Transcriptions Applied
Marketing is a vital part of doing any business. In the modern, sometimes highly competitive, world creating a good product may not be enough. That is surely a must-have feature of any successful business. But, it is equally important to promote that business effort well too. What is the most important thing in this case?
In the first turn, a business should have credible information and fresh ideas. If you want to make your promotional effort fruitful, you should make it precise. And this is possible only by having credible information about the situation in the market, including trends, expectations of customers, and behavior competitors express. If you want to make your business distinct, you strongly need to develop fresh and unconventional ideas about how to promote your brand and product.
And if you have made some promotional effort but it was not effective as you expected, there is a problem with the information in this case for sure. If you have already run out of ideas where to find new valuable info on the matter, market research transcription services can help you with extracting gold from the ore.
Market Research and Market Research Transcriptions
Market research stands for the process of assessing the feasibility of a new product or service to the needs and expectations of potential customers. Its main goal is getting feedback and enhancing the product or service to make it more feasible. The great advantage is that data is collected directly from suggested customers.
Market research transcription is focused on converting recorded or real-time speech and delivering voice-to-text materials easy to review for a shorter period of time. This type of transcription service is quick and effective for many other market research objectives.
Core Benefits of Using Market Research Transcriptions
Getting desired info is possible in two ways: involving your employees or ordering professional transcription services. The last option is beneficial in view of the next benefits to enjoy:
1. Get rid of routine
You and your employees may spend hours listening or watching materials becoming exhausted after that. This doesn’t leave any room for creativity and decreases the efficiency of brainstorming. On the other hand, transcriptions enable the processing of all info fast and easily reveal opportunities for new ideas to come.
If you need to do deep market research, handling large amounts of information may not be possible manually. So, automatization or asking for extra professional help can make your task easy or even sometimes possible to realize at all.
2. Save time
Manual work takes far more time than automated one or is made by professionals. This is time you can redirect to developing and applying various business strategies. Look through texts within a couple of minutes rather than spending dozens of minutes or even hours listening or watching recordings.
3. Ensure market research to be more productive
The more credible information you have – the better it is for developing and taking business decisions. In this way, you minimize the risk of failures and increase the chances of applying the right solutions that can actually help your business grow.
4. Make information easy accessible
If you have converted data from audio/video to a textual form, you may access that easily at any time. It is possible to look through that, refresh your knowledge, or develop fresh suggestions on the matter that interests you.
High-quality transcription not only opens all listed benefits but makes the process of working with the content transcribed twice easier and more pleasant. Precisely, it can help with reviewing the following sources.
Examples of Sources Processed Through Transcriptions
Extracting valuable info while converting audio to text or video to text is possible while working with the next sources:
- focus group researches
- phone interviews
These are the most common sources to work with while requesting transcription services. But, in fact, it is possible to work with various audio or video materials you find suitable for getting the exact info you need. How to do that? Apply the following most common and effective tactics.
Samples of Effective Transcription Tactics
Want to get more precise suggestions about how transcription services may be effectively applied in the course of your market research and decision-making? Here are the easiest but still effective tactics to use.
1. Creating listening hub
This is a place where you safely store all recordings obtained from your customers. It is an easy way to take and listen to different opinions, suggestions customers may have on the matter of your market research. You may not only store such information but also provide access to different departments and responsible persons, use this information during business negotiations and discussions.
2. Arrange qualitative research
This type of research is potentially more beneficial in most cases compared with quantitative research. While conducting the last one, you can review figures only. But, if you handle qualitative research, you work with descriptions and explanations. That may turn out to be more valuable for enhancing the concept of a product or service you try to promote.
3. Global researches
If you are operating in different countries, the preferences of customers in each of them may differ a lot. If you use transcription services, you can conduct this research in each target country and with a greater number of respondents. It is possible to make a comparison and adapt market tactics to the preferences customers have in each country.
4. Expert reviews
Lots of professionals in each field have their blogs or other sources where they present opinions on the existing trends and opinions on how to do right to have more leads and sales. Some experts prefer podcasts, blogs, and YouTube videos. Don’t neglect those valuable sources of information but easily convert that into texts you may access easily.
While applying each of the stated above tactics, the only thing you need to think about is which type of transcription services will be more effective for each of them and in your concrete case: automated transcripts or human transcription services.
The more credible and valuable info you have – the better solution you can develop and apply in the course of your market research and doing business in general. Think in a non-standard way to get valuable info your competitors probably don’t have. Conduct interviews with interested customers, handle negotiations, review expert podcasts, etc. Transcribe audio or video content you have and extract information to the point. Make your market research easier and decisions more effective thanks to transcriptions applied.