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Forrester Says Online Communities “Turbocharge” Qualitative Research

Market research online communities are making qualitative research cheaper, faster and are providing new types of insights, according to a new Forrester report called "Will Web 2.0 Transform Market Research" by Brad Bortner.

In the report, Vision Critical is highlighted for its ability to offer both online communities and panels with as much or as little service as clients need.

The report says that one in three businesses across North America and Europe plan to invest in Web 2.0 tools and technologies and the large firms who have already started are finding the results addictive.

Organizations can increase their speed and save resources with an online research community. Conducting 12 face-to-face focus groups could take four to eight weeks and require travel, whereas online the results can be collected in less than two weeks without travel. Online communities also show rapid ROI. The cost of one community is equivalent to three physical qualitative projects and yields the results comparable to five to 15 focus groups.

Identifying if an online community is a good fit for an organization is an important factor to consider before jumping in. The report provides a self-assessment guide for companies to determine their readiness for market research online communities, including factors of need, organization assessment and budget. Firms looking for a mix of qualitative and quantitative online research should consider Vision Critical which leverages both by combining an online panel and a community.

The report is based on interviews with 31 vendor and user companies across a spectrum of service offerings and software capabilities in online research.

If you are considering building an online community and would like a copy of the report, email Caroline Hickton.

Posted on May 2, 2008
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