How to Improve Market Research Efficiency by Using Transcription Services

Let’s assume that you have a product. It’s fine, but you feel you can do better. Or, vice versa, it underperforms, and you’d like to know why. Or, there is no product at the moment, but you have an idea. And you wonder if that idea is any good. Sounds familiar? I bet it does. Any businessman knows these questions and has to answer them regularly.

Content Summary

How transcription services help in marketing research
Time-saving
Extremely accurate
Cost-saving
Excellent for integration
Room for personal improvement

Marketing research is a complex thing that includes many components. However, no component is as essential as communicating with customers (or potential customers) and getting their opinions. You collect tons of information, analyze it, process… Wait. How would you do it?

Let’s start from the basics. You need to research the customers’ opinions by asking them questions and getting their answers. You can do it indirectly by running surveys and offering specialized questionnaires. This method is the most common one. Also, you can research directly by interviewing the customers face-to-face or listening and analyzing the focus groups’ discussions.

Both methods, if designed and implemented correctly, bring you tons of valuable results. The good thing is, there are lots of analytical solutions that work brilliantly with amounts of raw data and help you determine the necessary patterns. However, this concerns the textual information mostly. What about audio and video data? You’ll get lots of them from interviews and discussions.

Analytics will cope with all data, but you should ensure the same format for it first of all. Textual answers are already prepared for further analysis, but audio records require passing a preliminary step that is transcription voice to text – and the significance of this step is difficult to overrate. You can do it yourself or turn to professional services to transcribe your audio. The benefits of quality transcription provided by professionals are overwhelming.

How transcription services help in marketing research

Time-saving

Let’s consider a typical situation. You have some amount of audio records with your customers’ interviews, and you have to convert it to text. Do you plan to do it yourself or assign it to some person from your team? It’s good if you have professional human transcribers in the staff, or you are one of them yourself. Otherwise, it will take a long time.

Even if you use additional means, you will have to play the recordings, pause, type, rewind if you missed something or are unsure if you’ve heard it correctly, and get back. It is always a lot of time. Of course, there are also automated speech-to-text systems. Unfortunately, they deliver a decent quality of text only for the excellent quality of the recording. You will have to revise the results of automated transcription thoroughly and correct all issues.

Thus, whether you use voice recognition or your own ears only, you have to spend a lot of time getting the required audio content transcript. However, it is different when working with services. Human-based services provide 99% accuracy for less than perfect sources. Besides, they do it much faster, as it is a full-time job.

Extremely accurate

Very often, those customers whom you’ll interview aren’t excellent speakers. They may have accents. They may use lots of filler words. There can be several people, and their voices will blend. Or they will interrupt each other. In marketing research, you can’t afford to miss a word. You don’t know which details are most crucial! This all complicates the transcribing processes drastically.

When you depend on the quality and precision of the information, the best way is to use the professional service. Specialists deliver verbatim transcription with all details and timecodes. You may turn them into sheets and analyze the answers, the words used, and even pauses made – all details are significant!

Cost-saving

Yes, this is one of the most attractive benefits of using the professional audio-to-text transcription. If you transcribe the recordings yourself or delegate the task to some employees, these people won’t do their other duties. Transcribing is a job requiring full concentration and hours of work. And, most likely, the other tasks from the agenda won’t go anywhere.

By spending your work time transcribing for the company’s marketing goals, you are losing money, not saving it. You can’t do other tasks. On the other hand, the best transcribers have affordable rates. You can get the job done better than you’d do, much faster than you’d do, and cheaper than you’d expect.

Excellent for integration

Do you use analytical systems for data processing? Most likely, there are some solutions – all companies work with such tools for advanced analytics. They require the data in particular formats to load and process. What is great about the transcription services is that they can deliver audio content in different formats. Those formats compatible with analytical systems are usually supported.

Or, converting into the necessary format from the source file delivered by the transcriptionists would be elementary. It again saves your time, as you can load the data into your system immediately. And time, as we all remember, is money.

Room for personal improvement

The essential support that transcription services provide is freeing you from the routine. They deliver the most accurate and detailed data that is already adjusted to your needs. You don’t have to spend (and waste) your energy on additional processing of the results. Instead, you can put them into the analyzer at once and focus on the outputs.

Your intelligence and creativity will get the food. Now, you can discover the things to implement into the marketing strategies and reach the peaks.

Yes, it all can be achieved by using text transcriptions. And the nature of the business suggests that professionals deliver the best results. When you face the job of converting audio to text to use that data in further analysis, you need the most reliable data. We, in our company, can grant that data for you. Feel free to address our team when you need precise transcriptions for your audio and video sources.