Effective Market Research Tactics Using Transcription


Effective Market Research Tactics Using Transcription
Beth Worthy

Beth Worthy

11/11/2020

Before starting any business, whether small or large, researching is the most time-consuming but extremely critical step. Market research is a never-ending cycle and should be done consistently to maintain the stability of the business.

What is market research?

Market research is the process of determining the feasibility of a new service or product through research conducted directly with probable customers. Its goal is to collect data straight from the target audience to improve their product or service and make better sales.

What is market research transcription?

The process of converting a real-time or recorded speech into a written document or an electronic text document is known as Market Research Transcription. It is a convenient and more effective process that documents all research conducted and provides a way to access important information quickly.

Market research through transcription

As research becomes the tool that investigates facts and figures it out, research transcriptions become responsible for bridging the gap between the researchers and the target audience. The analysis can bring the company new insights into the customers’ needs and preferences.

Some market research related transcriptions include:

  • Telephone interview transcription
  • Focus group transcription
  • In-depth interview discussion transcription

Why Use Market Research Transcription?

Time management is a fundamental component of success. With the increasing competition, demand for Transcription services is growing day by day. Some reasons to utilize market research transcription include the following:

1. Easy accessible and searchable texts

Transcribed audio makes it easier for teams to reference back to important aspects of the audio quickly. Transcription ensures that the delivered information is accurate and collected properly.

Time-saving and cost-effective: Documentation and record-keeping is a complex task. However, with transcription, keeping data in order can be easily accomplished and save time and money. Companies can now prioritize their work and leave audio transcription to the expert transcriptionists or professional transcription services firms.

2. Maximize Your Market Research Audio

Transcribing your audio allows you to get the most out of your research and interviews.

  • Transcription leverages qualitative information and promises research efficiency,
  • Allows you to search and discover facts faster via timestamp
  • Written information is easily accessible, searchable, and more impactful as compared to audio formats.
  • You can highlight parts and cross-reference your data with previous data or other research details

3. Creating a research library through transcription

Researchers can investigate a particular product through interviews and questionnaires, either in audio or video form. Then these documents could be transcribed and stored in a shared space to create a library.

By creating a library of audio and transcript files, an organization can give easy access to these transcribed document files to all its team members. The company members can access the transcribed files, keep track of the customers' needs, and update their marketing strategies accordingly.

There are numerous reasons for an enterprise to outsource their transcription work to a professional transcription company offering audio transcription as a service. Get your videos transcribed by document transcription services like GMR Transcription to get affordable and high-quality text-to-text transcriptions with a quick turnaround time.

Also Read: How You Can Obtain Doctorate with Research Transcription

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Beth Worthy

Beth Worthy

Beth Worthy is the Cofounder & President of GMR Transcription Services, Inc., a California-based company that has been providing accurate and fast transcription services since 2004. She has enjoyed nearly ten years of success at GMR, playing a pivotal role in the company's growth. Under Beth's leadership, GMR Transcription doubled its sales within two years, earning recognition as one of the OC Business Journal's fastest-growing private companies. Outside of work, she enjoys spending time with her husband and two kids.