Saturday, March 24, 2007

Alumni Survey Costs Reduced By 90% & Response Levels Up 500%

With technology today we are leveling the playing field for all, and as a result can process your survey requirements more quickly and with a greater degree of cost effectiveness than you ever thought possible. We respect tight timelines and tight budgets, so we built our entire platform around ROI. (Return On Investment)

FACT: For your survey to truly offer the smallest margin of error, (+/- 2%, nine times out of ten), the survey response needs to yield at least 2,000 responses, regardless of the original sample size. We encourage all clients to shoot for no less than 750 as a minimum response level.

Most direct mail surveys rarely see a 3% return. In fact, we have a recent case study of a 14,000 piece mail out, at considerable expense, that returned less than a 1% response. This is not an uncommon problem but no longer acceptable!

FACT: The highest survey response rates come from targeted surveys. IE: A survey targeting a particular interest group, like a university alumni. The least response comes from a random, untargeted approach.

If you mailed 25,000 printed surveys that included a return envelope and prepaid postage, your costs would generally average at least $2.00 per unit. Which is clearly the wrong way to measure. Measure by response only and the true costs are very magnified. On 25,000 pieces mailed, a 4% return would be 1,000. Now the hard core truth .. that's a real $50,000.00 cost divided by only 1,000 returns = $50.00 per response. And that expense is clearly unacceptable these days. ROI Surveys only charge by the response, and thus we remain extremely efficient and, accountable. A $50,000.00 expense is quite common and can just as easily be in the hundreds of thousands of dollars. After all that expense, you would still have to analyze the data from the returned surveys. That means a further expense in having staff enter the information into a proper spread sheet.

FACT: The highest survey returns happen when there is a live conversation in place. A face to face survey or one conducted by telephone. Whenever there is a form of human dialogue in play, there is always a much higher response. After all, surveys that arrive in the mail, unannounced, appear to be no better than the regular junk mail we all hate so much, or the never ending spam we receive online.

We suggest a personalized one-on-one call with your client and after having a chance to connect with them personally, ask if they would mind taking your short survey. BTW: This technique always gets the highest response rate. At this point you would simply transfer the call over to our automated phone survey. A very smooth and seamless process, and proven successful by Nipissing University.

FACT: Simply from the perspective of consistency, the automated survey will out perform the live call. Confused? Don't be! Every respondent who is transferred to the automated survey is asked each question in the same polite professional manner, each and every time. In this way, there is no possibility of someone stumbling over the words or reading them without any sense of sincerity, as might happen if the call were live. This of course brings a great deal of consistency into play, and after all, it’s our responsibility to make the survey as reliable and valid, as possible. We only use professional broadcasters for our automated voices. All voices are accent neutral, and research has proven them to be far more pleasing to the respondent, and thus, a better response is achieved.

We recently completed a survey for Mr. Ken Crocker, Executive Director, University Advancement at Nipissing University. Ken is a seasoned player in the Advancement arena and would be more than happy to speak about our services. He can be reached at 705-474-3450 Ex 4426 or by email at kenc@nipissingu.ca

FACT: We increased Nipissing University's survey response rate by over 500% and at the same time reduced their survey costs by over 90%. Once the survey question structure was organized, the automated voice survey was executed and in progress within 48 hours. When the survey was complete, the data was organized and handed over to Mr. Crocker in presentation form, in less than a week.

With today's technology we are able to capture responses in real time, thus making time sensitive data analysis a non issue. If the survey ended today, a complete break out with pie charts etc would be available within a week. This applies anywhere in North America.

FACT: The most expensive survey methods are as follows:
→ Direct mail surveys - $55.00 per response
→ Live call out telephone survey - $10.00 per response
→ Automated voice survey - $ 3.50 per response (we average under $3.00)
→ Web portal survey - $0.40 per response

We are all trying to leverage more from a time management and budget perspective, ROI Surveys is clearly the most efficient and cost effective solution. No need to download software and train staff on yet another system. We collect the data and return it, presentation ready. Our focus is automated phone and web portal surveys. And if you already have a busy website, you only need to add a link to our survey or consider getting customers to take a survey right from your already established IVR system.