Unveiling the Truth About Purchase Likelihood Questions: A Refreshing Approach
Ever feel like some survey questions aren’t carrying the weight they should? Hoping they’ll have better predictive power but never feeling completely confident that they do?
I think “Purchase Likelihood” is one of those questions. It’s so detached from reality. In the real world, nobody says, “I’m extremely likely to buy that.” So why do we rely on such impersonal inquiries to gauge consumer behaviour and more concerningly to gauge the success of new product launches?
The Flaws of Traditional Metrics
Purchase likelihood questions, while common in market research, often miss the mark. They assume humans are predictable and rational beings, able to accurately predict future actions, when, in truth, our decisions are influenced by myriad factors—like fleeting deals, existing solutions, emotions and even the whims of our little ones - that change, unpredictably, from occasion to occasion.
A New Approach For More Authentic Insights
We’ve ditched the old script and adopted a more authentic human approach:
Focus on Appeal: Instead of asking about purchase likelihood, inquire if consumers like what they see. After all, a product must first catch the eye to stand a chance.
Assess Existing Solutions: Ask if the new product could replace what consumers currently use. This gets to the heart of whether it truly offers something better.
Address Desire: The most crucial question: Do they want it? This taps into genuine human sentiment and provides insights that canned purchase likelihood metrics can’t match.
And for those reluctant to part with traditional metrics, fear not. We keep the purchase likelihood questions, but we always follow-up by asking participants why they answered as they did. In this way, we can maintain comparable data while making the research process more user-friendly.
Embracing Authenticity for Actionable Insights
In conclusion, it’s time to move beyond sterile purchase likelihood questions and embrace a more human-centric approach to understanding consumer behaviour. After all, authenticity breeds insight.