Question

Topic: Research/Metrics

Referral To Conduct Independent Survey

Posted by Anonymous on 6/13/2010 at 8:55 AM ET 100 Points
Our firm teaches residential real estate professionals how to help homeowners avoid foreclosure. We

want to conduct an independent survey to provide third party validation to the effectiveness of our training for promotional purposes.

The survey involves using an online survey against a sample of our database.

We want to keep the survey cost effective, the initial quotes we received are more than we want to spend.

Does anyone one know of a reasonably priced firm or alternative? Thanks!
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RESPONSES

  • Posted by modza on 6/13/2010 at 11:35 AM Member
    Don't know what kind of firm you got quotes from, or what you consider "more than you want to spend" of course, but have you looked into the self-service online survey tools? Zoomerang, InsightExpress are two I've used, as well as LimeSurvey (free, open source). These would not be entirely 3rd-party unless you hired someone (could be me, for example!) to run them, but it certainly lowers the cost to use an online tool. Of course, doing an initial email request with a followup or two by email doesn't guarantee that people will take the survey -- prizes help, and/or sharing of results-- but to make the full effort to get a meaningful number of respondents will take followup phone calls, which does add cost.
  • Posted by mgoodman on 6/13/2010 at 12:58 PM Moderator
    The survey tool you use is practically irrelevant. What you want is a professional who can help you think through the objective of the research, the expected use of results, and the best way to get to the respondents you want, ask the right questions, and analyze the results so you accomplish the objective.

    If you find that you can't afford the help you need, then maybe you need to adjust your objectives. Or perhaps you need to recalculate the value of the information you seek. It may cost more than it's worth.

    I do know a market research professional who is reasonably priced, and I'd be happy to make the introduction. First, though, I'd recommend you be very clear in your own mind what you want and what it's worth to you. Otherwise everything will seem too expensive.

    If you want the referral, let me know via email using the contact information in my profile.
  • Posted on 6/13/2010 at 2:09 PM Author
    Thanks for your responses. We currently use survey and feedback tools both effectively and extensively. Let me clarify more of what I'm looking for.

    What we'd like to do is create a third-part validation. If you've seen the recent cellphone mentions of "rated best coverage by an independent survey".

    The "independent survey" is done by a third-party who can validate the results and give a "stamp of approval"... like a ranking by J.D. Powers.

    Thanks!

  • Posted by mgoodman on 6/13/2010 at 4:19 PM Moderator
    If you want a true third-party, independent survey, then you'll have to let the third-party do the research. And if they are a reputable firm, they'll want to do all the things described earlier. And they are entitled to be paid for what they do, of course.
  • Posted by Jay Hamilton-Roth on 6/13/2010 at 9:02 PM Member
    Another choice: your local business school or business class in a local (community) college. Perhaps they'll take on the challenge as a class project, supervised by someone well-versed in independent surveys.
  • Posted by koen.h.pauwels on 6/14/2010 at 5:19 AM Accepted
    An independent study on the cheap? Sounds like a great fit for a university-company project. Michael is right that you need to have the third-party researcher make (most of) the survey choices and that the commercial fees charged may be more than you are willing to pay (unless they have a vested interest in conducting such a survey and you merely have to convince them to include you).

    So I agree with Jay that your local business school may be the best source. Some business schools, like my own (Tuck School of Business at Dartmouth) have a vested interest in real estate (the elective with the same name is popular with students, and several instructors think about getting a center together). Instead of just a one-off student project, they may want to conduct such survey regularly and become known as THE third-party rate of local real estate services (just as JD Powers is for automobiles). It may take a while for you to help them build this, but I think it is the best long-term and money-cheap solution.

    Good Luck!

    I fully agree with Michael and Jay: if you want this to be a truly indepenent
  • Posted by ggorshing on 6/15/2010 at 10:50 AM Member
    Have you considered contracting with a university research department? We've used the Southwest Marketing Advisory Council (Southwest U, Minnesota) successfully. Dr. Michael Rich leads a group of graduates who provide market research at a very reasonable price. - Margie
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