Stakeholder Intelligence

While quantitative research drives decisions, qualitative research is often necessary to discover potential strategies for your company. Much of quantitative research comes directly from qualitative research, because coming up with new ideas and new features on your own limits your overall ability to discover a great opportunity.

But there's still an issue. Who should provide you with that qualitative data? Generally, researchers look at the following samples: Customers – Customers are a fantastic source of data, and those that use the product are very likely to know what they want out of a product.

But they may be a little limited on innovation, because they may not realize what's actually possible or share their thoughts beyond the simplest answers. Employees – Employees know the product inside and out and could have good insight into where the company or the products should go, but they may not feel they have a true interest in seeing the company succeed. Executives – Executives making decisions solely on their own is what led to the Netflix fiasco.

Probably not a great deal to believe that those in highest power always have the best ideas for the common man. The first two groups represent a good sample but not necessarily any vested interest in the company. The latter group represents a bad sample that does have vested interest.

As researchers you can choose whomever you want for this type of research. We submit that companies should consider using stockholders and/or business partners as a qualitative sample, if possible. Both of those groups represent the best of both worlds.

Both are invested in your product's success, so they have a willingness and a need to drive your research further. Both are unlikely to let their positions or closeness to the company influence their ideas. They profit if the company succeeds, while still being enough outside the process to not have their opinions biased by day to day operations.

Overall, as a sample, they provide an ideal balance between the two important qualities. Not every company has an opportunity to use this type of sample and not every company will want to, but there's certainly reason to believe that for qualitative research, especially, stockholders and business partners could be a beneficial sample. Contact Survey Methods to find out more about how our software platform can be used for both of your qualitative and your quantitative research needs.