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6 min

6 advantages of conducting a healthcare market research survey

An article explaining the 6 advantages of conducting a healthcare market research survey

GrapeData
Jan 11, 2023
Healthcare

Introduction

Conducting a healthcare market research survey is an effective way to get the information you need for your business. A market research survey allows you to gather data from a large number of respondents in a short period of time. By using a professional-quality survey tool, you can create a questionnaire that's easy for respondents to complete. You can also analyse results quickly once it's closed. Here are six advantages of conducting medical market research surveys:

1. Get unbiased information from a healthcare market research survey

Unbiased information is crucial to your business. By only getting unbiased information, you can make better decisions that will yield more positive results for your company in the long run. You can ensure that the information you get is unbiased by conducting a healthcare market research survey.

A healthcare market research survey helps to eliminate bias in two ways. The first way is by asking customers and potential customers about their preferences when it comes to certain aspects of service or product offerings. The second way is by asking them what they like and dislike about competitors' services and products, which gives insight into how competitors' businesses run.

Some examples of how a healthcare market research survey can help you get unbiased information include gaining insight into where customers' priorities lie (what they value most) and understanding what excites them about certain products or services so that these elements are incorporated into marketing efforts; learning why customers choose one product over another; determining whether the price has any bearing on customer preference; identifying factors such as brand awareness or word-of-mouth recommendations among current or past purchasers; assessing customer satisfaction levels with current sales channels (e.g., brick-and-mortar stores vs online shopping sites), etc.

A healthcare market research survey can also be used to gauge how satisfied customers are with the quality of service provided by providers. For example, if you're a provider of medical equipment for use in dental procedures, you may want to find out whether patients prefer certain brands over others. Or, you may want to find out whether they feel that the price is reasonable. By asking these questions and more through structured interviews, focus groups, and online surveys, you'll gain valuable insight into your target audience's needs and wants. This information can then be used to inform future product development efforts.

2. Achieve a high response rate for your most prominent healthcare questions

One of the most important aspects of any survey is its response rate. A high response rate means you’re getting more responses from people who are genuinely interested in your product or service. While a low non-response rate means that your survey has captured a wide swath of opinions. The latter is especially important when trying to collect data on niche markets like healthcare. This is because it can help ensure that the results are representative and unbiased.

There are several ways to optimise your survey for a high response rate, such as:

  • Using logic sequencing (e.g., first asking demographic questions before asking about specific topics)
  • Creating an incentive for participants (e.g., offering free tickets to an event)
  • Using shorter surveys (we recommend 8-10 questions)
  • Using a mix of closed questions (e.g., yes or no) and open-ended ones (e.g., write in your answer)
  • Providing multiple choice answers where possible
  • Creating a clear call to action (e.g., “Click here to submit your survey”)

3. Quickly achieve your healthcare market research objective

The quick turnaround time for your survey results is a major advantage of using market research surveys. When you conduct a survey, it can take just a few days to receive all of your answers. The completion time depends on the complexity of the questions and how many respondents are involved. This means that you can get feedback from your customers much faster than if you were waiting for traditional forms of research like focus groups.

With this information at hand, you’re able to make more informed business decisions that will help improve profitability. In addition, you're able to meet customer needs in real-time.

4. Have flexibility in presenting data through a healthcare market research survey

The way you present data is important. You want to make sure it’s presented in a way that makes sense and will be useful to the reader. In addition, presenting the data in a certain way can help convince readers of different points, depending on what purpose you are trying to serve with your survey results.

Here are some examples of how you could present data from a healthcare market research survey:

  • By demographics and other key factors: You can summarise your findings by demographic or other key factors like age, gender, or location. This is helpful for showing patterns among groups of people who share one or more characteristics (e.g., age) as compared to others (e.g., gender).
  • With tables or charts: You might also choose to simply display your findings through tables or charts because this allows readers to easily see how many people responded "yes" versus "no" for each question asked on the survey. A table helps them quickly grasp the overall picture without spending too much time reading through each individual entry on its own (which may require scrolling up/down).
  • With a narrative: You can also use a written description of your findings, which could include quotes from survey respondents and other relevant information about their responses. This can be useful for conveying the overall picture of what people said in response to each question, without having to rely on tables or charts alone.

Marketing and advertising are two areas where a healthcare market research survey can be especially helpful. You can use the results of your surveys to help create new campaigns and promotions that will resonate with your customers, which leads to more sales and higher profits. An article on more flexible methods of data presentation can be found here.

5. Benefit from cost-effectiveness through your healthcare market research survey

The good news is that healthcare market research surveys can be conducted quickly, at a low cost, and with limited resources. This is especially true when you consider the fact that such surveys are often carried out remotely. Unlike traditional market research techniques where a team of people may be required to travel to different locations, conducting a survey requires minimal travel time and expense.

Additionally, healthcare market research surveys can be conducted in any language, making them ideal for international companies looking to expand their reach. The ability to conduct healthcare market research surveys remotely also makes it possible for companies to get more data from a wider range of participants than through other traditional methods. More pros of survey research methods can be found here.

6. Achieve real-time data accessibility

The ability to access your survey results in real-time allows you to make decisions based on the most current information. You can use this data to create reports and presentations that can help you improve your products and services. Your clients will appreciate being able to see the results of their survey at a moment's notice, rather than having to wait until they receive their final report.

Real-time analysis of your survey data allows you to be more proactive about addressing customer issues. You can use these reports to identify potential problems and make adjustments before they become serious enough to negatively impact your business. Real-time reporting also helps you measure the effectiveness of any changes made during a survey. In this way,  you can see how each change affects customer satisfaction.

Conducting a healthcare market research survey is an effective way to get the information you need

Running a healthcare market research survey is an effective way to get the information you need for your business. You can ask questions that are relevant and specific to your business. In addition, you can get answers to questions that you didn't even know you needed to ask. Plus, you also have access to information about your customers' needs, wants, and desires.

You can use this information to improve the level of service you provide. In addition, you can make sure that your business is meeting customer expectations. Healthcare market research surveys can be conducted online or through traditional mail. You may want to consider using both methods as a way of getting different types of information about your customers.

You can conduct your survey online using a website or application that makes it easy to set up, administer and analyse the results. This can be more cost-effective than traditional mail surveys because you don't have to pay for postage, printing, and paper. You also won't have to worry about return rates.

Conclusion

Healthcare market research surveys are a great way to get the information you need for your business. The benefits include unbiased information, high response rates, quick turnaround time, flexibility in presenting data (such as online or face-to-face), cost-effectiveness, and real-time data accessibility. Want to know more? Check out our latest guide on 'What is healthcare market research and why do you need it'. Looking to participate in such a survey? Sign up here to become a respondent with us.

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