In a world overflowing with information, we never have enough time to clear the noise to extract the most relevant insights on certain categories or markets. Market research is an art that helps you collect information and decide what the best options are in a certain niche or category.
Here at Crazytop5, we are committed to delivering definitive top 5 lists by being dedicated to rigorous research methods. We employ a meticulous process designed to ensure accuracy, relevance, and reliability that helps us bring you the top 5 lists you can trust.
We employ a team of seasoned researchers who meticulously find data from authoritative publications to expert opinions to identify the most compelling options in each category. Our lists are compiled based on quality, popularity, innovations, and user reviews.
We put special emphasis on transparency and comprehensive insights. Our top 5 lists provide expertise and commitment to excellence while introducing the top 5 choices. Here are the leading factors that our team of researchers considers while compiling the top 5 lists for you.
Before we dive into the compiling process, the most important step is to collect the data surrounding that list. It is a systematic process of gathering and analyzing specific information to evaluate the results finally. Our researchers tirelessly collect data from multiple sources. Here are the tried and tested ways that we employ to bring you the authentic top 5 choices.
Market research is our most reliable tool for gathering information on market needs and preferences. This helps us understand the market trends and how the consumer feels about the product or services we are researching. In our quest to find the top 5 list, we go to extreme lengths that include primary and secondary research.
Our experts carry out the primary research by consulting our focus groups and conducting surveys and sometimes even have to go to the field to gather data.
Another method that our researchers use on regular basis is the secondary research. This is research that is being done on the desk and use secondary sources. Only downside of this is that we have to rely on the data produced by others.
Our researchers manage online focus groups, and when they require opinions or ideas about any products and services, they initiate the discussion in that focus group. Our experts pulled some insights from those discussions and decided to rank their list based on the information gathered from those focus groups. The advantage of collecting data from a focus group is that you get it from a significant source instead of being filtered through many platforms.
As mentioned before, we go to great lengths to gather information and data to make a comprehensive list trusted by our readers. We prepare surveys and publish those surveys on multiple platforms. Those surveys help us find information in different ways, and we prepare them in different variations so we have more chances to extract precise and concise information from them. Those survey variations include different options with which they can respond but are not limited to dichotomous, multiple choice, checkbox, rating scale, and matrix. It is worth noting that our experts create some of those surveys, and sometimes, we use tools to do the late work for us.
In today’s age, social media is seamlessly integrated into our lives to the extent that it has become a digital extension of ourselves. Elections in developed countries are being influenced, and products are getting a new lease of life with the help of social media. We understand and recognize this impact, and our experts tap into the data produced by social media and dissect it.
Our researchers identify topics of interest and analyze relevant reactions and mentions. We extract unfiltered information that is not biased and is true to its core. It may be a time-consuming research method, but it provides a wealth of data to complete the list.
To get an accurate picture of any research, the most reliable and trustworthy tool is always a one-to-one interview. As mentioned, our researchers leave no stone unturned and conduct interviews with independent respondents.
The only drawback is that those interviews can be time-consuming and cost us a fortune as they involve our resource allocation; we have to prepare well-researched interviews and conduct them in the field.
Another expensive research method is conducting field trials conducted in the participant's environment. The best thing about the field trials is that our experts conduct experiments that reflect real-life conditions, and the results are not influenced by any other external factor.
However, it can go either way, and you can find the field trials to be biased all the way depending on external factors, including ethical implications and prior involvements.
Observational market research is a method where our experts observe the quality or popularity of a product or service by being a fly on the wall. This method provides the best and unbiased results as the participants seldom know about their involvement. However, it is an expensive way of researching as it is time-consuming, and you have to allocate your own resources for a longer period of time to observe the behavior of your participants.
This is one of the most common methods used to see where each product or service stands in popularity. Competitive analysis is based upon many factors, such as the true definition of the service or the product, its selling points, things that make it stand out from its competitors, marketing and SEO structure, PR coverage, online engagement, types of offers, pricing structure, SWOT analysis, strengths and weaknesses opportunities, and threats. So on and so forth. In our line of business, competitive analysis is the absolute baseline requirement to ascertain which product stands at what number.
The Internet is awash with public data for everyone’s convenience. Thousands of researchers use the public domain data daily to compile the results. For our research purposes, we accumulate more data from the public domains than any other methods mentioned above. This data is constantly updated and can be extremely accurate if you are wise and careful.
Our researchers and experts scour government databases and fact tanks that are usually paid and provide updated and accurate data about any products or services we require.
Our researchers go to extreme lengths to provide you with real and actual results. To do that, they subscribe to some services themselves, providing real-time information about those products and services.
It is worth mentioning that sometimes, we consult sites such as Euromonitor, Statista, and BCC Research by paying for their subscription. This saves time and gives you a broad vision when it provides you with the data in a format that provides you with a lot of insight.
Analyzing sales data is one of the most accurate and revealing methods of ascertaining where your product or service stands in popularity. Higher sales figures indicate the popularity, quality, and functionality of the product or service you are inquiring about.
It helps you identify new sales trends, popularity, marketing trends and performances, product or service quality, and trending curves in sales. It would not be wrong to say that the first thing that our researchers look at is the sales data of the product or service they are inquiring about to get pure insights.
In the end, what matters is that we yearn to provide you a clear picture of every product or service that is presented to you on our website. We may or may not use all the above-mentioned methods, and it purely depends upon what works for certain products or services and what does not, but we strictly ensure that we bring you the best of the best for you to choose. We add pros and cons wherever applicable.
It is worth mentioning that since we offer a comparison of features to our visitors. While compiling the lists, we accept advertising compensation from companies on our website. This influences which products or services appear on the list. However, we do not endorse any products and stay clear about favoring any product over others. Pricing of the products and services mentioned on the site is subject to change at any time.