Is 50 percent a lot?
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If someone rushed into your office and told you that more than 50 percent of your customers were unhappy with an aspect of your product, you’d leap into action, right? Well, maybe yes and maybe no.
Research of all kinds is a powerful tool in marketing. But be wary of the quickie surveys. Can they offer some insights and raise good questions? Sure. But are they statistically valid? Oftentimes, no.
The “more than 50 percent of your customers” looks a lot different when you discover that it was a Web-based survey that had 17 (or 37 or 57) respondents. You can see how overreacting to this information might, at best, be a waste of your time and, at worst, damage your product or brand.
Here are some things to look for when using quantitative research.
When was it done? How was it done? How were the questions phrased? How many people were surveyed? What percentage of the total target population was that? How many respondents?
In the survey analysis, look for an accurate and balanced summary, data to support the conclusions, and recommendations (insights) into what business meanings can be gleaned from the data and conclusions.
Numbers and information are critical to making good marketing decisions. So be mindful of the quality of the information. This is a “look before you leap” strategy that should keep you from landing in hot water.
This is an important reality that we need to remember as business leaders and as consumers. Be wary of any advertisement that promotes research numbers if it does not note the source of the data and how it was gathered.