Transcription services for market research provide you with the administrative help you need to improve research organization, enhance data analysis, and generate final reports.

According to a February 2023 Forbes article, 64% of experts within the market research industry use transcription services for recorded interviews, focus group sessions, and other information-gathering efforts. Why?

1. Organize and Archive Your Data More Effectively with a Written Record
2. Analyze Your Data Faster and More Efficiently
3. Use Word Occurrences to Improve SEO
4. Reduce Bias
5. Generate Better Reports Faster
6. Spend Your Time on Research, Not Admin Tasks

With all the ways transcription services improve market research, perhaps the real question is why the other 36% aren’t using it yet. Below, we go a bit more in-depth about why you should, too.

Six Ways Transcription Services Improve Market Research and Data Analysis

1. Organize and Archive Your Data More Effectively with a Written Record – You likely know already how trying to locate a specific quote in a recorded interview can be a slog. It means fast-forwarding and rewinding through hours of video or audio files. A written record, on the other hand, is skimmable, searchable, and easier to archive for future use.
2. Analyze Your Data Faster and More Efficiently – Market research is already subjective enough. Transcription services help make data analysis more objective. For example, you can use a word occurrence search to find the top words used by your customers in interviews and focus group sessions. Learn more about finding word occurrences here.
3. Use Word Occurrences to Improve SEO – Once you identify the words your customers already associate with your product or service, you can use them in other places, such as your advertising and your web content. This will improve your SEO results by adding those specific keyword phrases that your customers already identify with.
4. Reduce Survey Bias – You’ve likely noted survey bias creeping into your market research before. This can throw off effective data analysis, making your research efforts less effective. Transcription services help reduce this bias because you can read the questions and responses directly. Plus, it’s much faster than watching or listening to the whole recorded interview.
5. Generate Better Reports Faster – This is perhaps one of the most overlooked aspects of transcription for market research. Once you have all your audio files converted to text, it’s much, much easier to pluck out significant data points, including quotes. Pro tip: record your own notes into a digital recorder or your phone, then get those transcribed too. This little habit can potentially save you hours of your own note-taking time every project.
6. Spend Your Time on Research, Not Admin Tasks – Many market researchers believe they can simply do the transcription themselves. Sounds great in theory. The reality is that unless you are a professional transcriptionist, you could be spending 4 to 6 hours for every hour of audio recording, converting it into usable text. That’s time better spent analyzing the research, talking with customers, and doing what you do best.
7. Bonus Tip: Virtual Services – For more comprehensive help, you may want to consider virtual assistant services for market research. Aside from transcription services, you can also get help with billing, marketing, and various other admin tasks that can make your market research easier.

Bottom line: transcription services help make market research and data analysis faster, easier, and more accurate. After all, if you are doing something as subjective and important as market research, isn’t it worth doing it as precisely as possible to improve objective results?

Good Data In, Good Results Out – Contact Preferred Transcriptions for Best Results

As a market researcher, you already know that your results are only as good as your data. That includes your data collection methods. Companies like yours across the United States have trusted Preferred Transcriptions with their data since 1999. We provide fast, accurate transcription services for market research, medical, legal, law enforcement, and more.

Whether you are a market research contractor or an in-house market researcher, our transcription services for market research can help you. Contact us right now to find out how we can improve your results! 610-539-9208