7 Benefits of Conducting Market Research Through SMS

7 Benefits of Conducting Market Research Through SMS

Data drives business in today’s digitized world. Marketers need more and more data. Okay, let me clarify. Maybe not more data, but smarter data. SMS is one of the many avenues that marketers use for research to get that smarter data. Its simple nature makes it more acceptable among target customers. It’s also an incredibly efficient way to capture customer insights to make data driven decisions.

Using SMS for market research survey delivery is going to be a future must-have tool for marketers. Here’s why:

The Numbers Say It

More than five billion people around the world send and receive multiple SMS messages every day. This number is expected to grow to 5.9 billion people by 2025. Now, reaching your audience for a survey invitation is no longer an issue.

The numbers also prove that potential survey respondents are more open to using SMS than other mediums. In a 2018 survey from AT&T, the results showed that 85% of mobile device users prefer business SMS messages to emails and voice calls. SMS messages also have an 82% open rate, which is a 209% higher “connectivity rate” compared to emails and voice calls.    

Despite the facts above, SMS as a method for data collection is still highly underutilized by marketers, researchers, and pollsters. An astounding 65% of companies don’t utilize SMS. But in 2020, more and more businesses realize their mistakes. So much so, that topics of “how” and “why” were even the primary topic at the 2020 AAPOR event.

Have you been considering SMS for market research? Why not?

7 Benefits of SMS Market Research

There are many reasons for using SMS as a delivery tool for your market research project, but here are the most notable takeaways to help you consider SMS for surveys and data collection:

1. Wide Reach

Anyone with a mobile phone that can receive SMS messages can participate in your survey. That leaves you with the the ability to reach more than 300 million people in North America.

As a comparison, online survey panels can only reach ~6% of the US population at any given time in a year. SMS has the ability to target more than 81% of the US population at any given time. That leaves the inability to not find the right respondent in the right area out of the way.

Your audience can be global or localized, depending on your preferences. You can narrow down your desired audience based on factors such as age, location (nation wide or even county specific), gender, and other demographics.

2. Fast Response Rate

SMS messages take a few minutes to compose and less than a second to send. Research also shows that 98% of mobile users take less than three minutes to open and read their text messages, and less than five minutes to respond.

You will also get more answers than you would when using other platforms, such as emails and cold calls. Cold calls go largely ignored. Branded emails, on the other hand, have a paltry 22% open rate, and even then, it takes most people longer than 90 minutes to open them.

This means that you can get answers to your survey questions, and we mean the whole survey sample size, in less than 24 hours using SMS messaging. Internal studies at Precision Opinion show that over 60% of the survey sample size is answered within the first 6 hours of being in field. This is more than most marketers can ask for considering how dynamic the competition is.

3. Strong Customer Engagement

85% of mobile users prefer SMS messaging surveys compared to other avenues, as mentioned. Why? Because they’re non-invasive. With SMS surveys, you don’t need to be pulled away from what you’re doing for the next 30 minutes or receive an unwanted interruption. Respondents can open and answer the survey when the timing is right for them. Also, technology has made it incredibly simple to opt-in or out without having to think about it again. This is why most people don’t mind responding to SMS surveys.

As an aside, many customers also appreciate receiving SMS surveys from brands they use as they feel appreciated and valued for their input, which makes them more loyal to the brand in the macro scheme of things.

4. Flexibility & Versatility

SMS messaging surveys are also highly versatile. As they are web-based, and you only use SMS as the delivery means, you can actually have all of the flexibility of your current survey tool without any of the compromise. Modern mobile response, web-based survey tools like Voxco, SurveyMonkey, Typeform allow you to embed media, images, and more to get the most out of your time with respondents.

You can also combine them with other media avenues. For instance, you can add links back to an email domain, or social media pages. You can also ask for the responders’ permission to make a call or reach out again in the future for follow-ups.

The possibilities are endless.

5. Cost-Effective

If you’ve conducted market research before, you’ve probably been awestruck at the high price of phone and focus group data collection. And then when you moved to online, while very cost-effective, was limited in reach and response.

SMS for market research pricing falls nicely in the middle of the pricing matrix. For full transparency, we outlined our SMS pricing and you can see it here.

6. High Competitive Advantage

SMS messaging as a survey platform is underutilized, considering how effective it is. Only 35% of businesses currently utilize the platform. This leaves a lot of room for savvy marketers and researchers to get ahead of the competition.

P.S. Now is the perfect time to invest in SMS messaging as a survey platform. The rest 65% of businesses are catching up to the benefits of this avenue, so it may soon be so flooded that responders will also start frowning upon SMS messages just like they do emails and cold calls.

7. Transition to the Future

The future of this increasingly digitized world is mobile. People use phones for essential activities, such as shopping for groceries, clothing, and staying connected to loved ones. Soon, 99% of the world’s population will be interconnected via mobile technology. SMS survey delivery is just a stepping stone towards this future.

Navigating this basic venue will give you great insights on how to make the most of efforts and drive successful business outcomes.

The time for the future of market research is today!

Caution: SMS Market Research Is a Minefield If Not Properly Used

7 Benefits of Conducting Market Research through SMS

SMS messaging, as a survey avenue, has many benefits, but it also has many potential risks. Two of the largest risks include remaining TCPA compliant and carrier deliverability maximization.

At Precision Opinion, we developed our software in-house to build for compliance, deliverability, ease-of-use, and user experience. But as you may know, not all software is created equal. So while they’re are other SMS messaging software choices out there, be sure to discover the one that fits your needs and keeps you legally protected the best.

Let Us Drive Your SMS Survey Campaign

We are all about data here at Precision Opinion, and we run some of the most sophisticated marketing research campaigns to get you the data you need to move forward. Our SMS survey delivery methodologies are simple, yet comprehensive, and we guarantee the ability to reach your desired audience in a fast, effective, and affordable manner. Get in touch today to discuss how we can help drive your research campaign today!