A Mixed Methods Approach to Market Research: Benefits and Considerations

A Mixed Methods Approach to Market Research: Benefits and Considerations

In market research, we often discuss the benefits of qualitative versus quantitative approaches. For instance, if you seek an in-depth understanding of a topic and want to know why people feel a certain way, qualitative research is the obvious choice. On the other hand, if you want to capture robust metrics around the size of an opportunity, understand the relative importance of themes, or generalize your findings to a wider population, quantitative research is likely needed.

However, a mixed-methods approach, incorporating both qualitative and quantitative methods, can be a great way to balance the benefits of detailed exploration with giving your stakeholders confidence that the findings are relevant to the wider population. In other words, it offers a balance of breadth and depth, creating a holistic understanding of a topic.

 

Further Reading
When to Use Qualitative Research to Better Understand Your Customers and Their Needs

 

Definitions

For those new to the topic, let’s start with some definitions:

  • Quantitative Research: This refers to methods that capture numerical-based data, such as percentages. The most common tools include surveys and structured telephone interviews.

  • Qualitative Research: This refers to methods that capture open-ended data through discussion. Common tools include telephone interviews, focus groups (online or face-to-face), and asynchronous discussion forums.

 

Further Reading
The Ultimate Guide to Online Surveys: Dos and Don’ts You Can’t Ignore

 

Timing Options for Mixed Methods Approaches

Once you’ve decided on a mixed-methods approach, there are a few options to consider regarding the timing of each phase:

  1. Quantitative followed by qualitative
  2. Qualitative followed by quantitative
  3. Simultaneous qualitative and quantitative

Let’s explore the benefits of each.

  1. Quantitative Followed by Qualitative

    If you have a good understanding of the subject area and can generate possible answer options for closed-ended questions, you can start the project with quantitative research. This allows the qualitative phase to target interesting themes and explain any unexpected findings. For example, if a particular customer need was ranked as most important in the quantitative phase, the qualitative phase could explore why this need is so critical and how customers currently seek support.

  2. Qualitative Followed by Quantitative

    If you are at an earlier stage in your understanding of a topic, qualitative research can be a great start to explore the subject matter in more detail and flesh out your knowledge. The quantitative phase can then validate some of the key themes identified in the qualitative phase with a larger group and look for differences between subgroups. Qualitative research can also help shape questions and answer options for the quantitative phase.

  3. Simultaneous Qualitative and Quantitative

    Through agile methods, it is possible for qualitative and quantitative methods to inform each other if conducted simultaneously, although this generally involves smaller tweaks rather than fundamentally changing the objectives. The main advantage of this approach is time efficiency, especially if you need the full project completed on a relatively short timescale. It can also offer cost efficiencies in terms of analysis, as both workstreams can be analyzed concurrently.

 

Further Reading
Addressing the Problem with Data Quality in B2B Research

 

Conclusion

Utilizing a combination of qualitative and quantitative methods within the same project can be highly effective at balancing detailed insights with validation among a larger group. Your current level of understanding of a topic and required timescales both play a key role in determining how to structure the phases for the best results.

For more information on how mixed-methods market research can support your business goals, please get in touch for an informal discussion.

 

 

 

 

 

To discuss how our tailored insights programs can help solve your specific business challenges, get in touch and one of the team will be happy to help.

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