Leveling the Three-Legged Stool of Faster, Cheaper and Better

As economic headwinds influence price sensitivity, it's no surprise that price has become a more prominent selection criterion for buyers (up 8 points since last year). It's easy to see why: price is a clear, quantifiable metric. As is speed – you can measure how much something costs and how fast it delivers. Yet price and speed alone aren't enough.  

With data quality holding steady as a top priority among over 80% of buyers, it's clear that even in a cost-conscious environment, quality – both of service and data -- remains a core requirement. Buyers aren't just seeking to maintain quality, but rather to improve it. 

For buyers open to new technologies – particularly AI-based solutions – a strong case can be made for how innovation can elevate quality of both data and service. AI also brings greater speed and efficiency to the research process, enabling faster turnarounds and smarter decision making. At Toluna, we've seen this first-hand with our own insights platform, Toluna Start, as well as our tools. One example is SmartCloud, which instantaneously analyses open-end survey responses for deeper meaning while reducing human error in coding. Another testament is QProbe, our generative probing feature that limits insufficient open-ended survey responses and brings greater depth to insights. These are just a few examples of how AI technologies are improving data and service quality and making insights better (and they’re cost-effective too!)

Another increasingly important criterion to note is the relationship buyers have with the vendors they select. With AI booming across the board and a growing pool of vendors and data, buyers are navigating an increasingly complex landscape. In such an environment, a trusted partnership and reliable point of contact becomes more valuable than ever. 

The bottom line is that buyers are in a strong position to choose partners that fit their specific needs. This might mean choosing vendors who can deliver on speed and cost-effectiveness when these are the priority and opting for vendors offering strategic guidance and consultation when the stakes are higher. It also opens avenues for increased collaboration by leading buyers to bring together the best of both worlds: partnering a small, innovative player with their longstanding vendors to benefit from the agility of one and the proven expertise of the other.