Asking the right questions and gathering the right data is essential in today’s business world. With the market always changing and consumer behaviour constantly evolving, surveys can be a fantastic way to get a fresh insight into what customers are thinking. But what many people do not know is how much they should expect to pay for a survey. The truth is, survey pricing is not a mystery, and you don’t need to break the bank to get quality results.
Pricing strategies vary from one survey provider to the next, and this can make it difficult to determine how much you should be paying for a survey. Factors that influence survey pricing include the survey length, the number of respondents, level of customization, data collection methods, and reporting format.
One of the most important factors to consider when pricing surveys is the length. Long surveys take more time to administer and process, so they tend to be costlier than shorter surveys. Ideally, the survey should be long enough to gather adequate responses, but it should not be so long that respondents lose interest or abandon it halfway.
Another factor to consider is the number of respondents needed. The more respondents, the more expensive the survey is likely to be. This is because the more people you survey, the more time it takes to process the results. In addition, if you’re looking to receive a demographic breakdown, you may need to oversample to have enough respondents in each sub-group.
Level of customization is also an important factor. A highly customized survey often requires more time and resources to create compared to a standard survey. As such, you should expect to pay extra for a survey that requires customizations, such as skip patterns or different question types, beyond a basic multiple-choice structure.
Data collection methods also impact the cost of surveys. surveys conducted over the phone, online or through mail can each have varying pricing structures. Online surveys are usually the cheapest, as they require minimal resources in comparison and help keep costs low. Phone surveys take more time, and mail surveys require printing and mailing costs, which tend to make them more expensive.
Finally, reporting format affects pricing. Reports with easy-to-read visual data with comprehensive analytics are highly recommended. Since the format takes time to put together and is complex, it can drive up the cost. Something to consider is opting for software that helps automate the analytics needed to create the report on its own.
In conclusion, survey pricing isn’t a mystery, and you don’t need to spend exorbitantly to get quality results. A short customized survey, with a customer-response goal, comfortable demographics, a well-curated report format, and an online surveying host to manage are some ways to keep costs down. To ensure you’re getting a fair price, it’s worth shopping around and comparing costs with different providers.