MaxDiff analysis can be your go-to tool for market research. Get more out of your data with expertise from global market research services.
If your business is successful, there are bound to be plenty of things about your products and services that your customers like.
Yet there are times when it’s important that you know what those customers value the most—even love—above all else that makes them loyal and repeat customers who readily sing the praises of your brand. These behavioral analytics provide insights into consumers’ actions and preferences, allowing you to update your products and messaging strategy.
That’s where MaxDiff analysis can be your go-to tool for market research.
MaxDiff analysis differs from other marketing methods in that it measures relative importance rather than broad satisfaction, such as Customer Satisfaction Scores (CSAT) or Net Promoter Score (NPS®).
The methodology provides valuable insights into your customers' preferences, enabling you to meet their needs and exceed their expectations through continually improving products and services.
MaxDiff analysis is an analytic methodology used to gauge survey respondents' preference scores for different items, resulting in a best-worst ranking of those attributes.
With MaxDiff analysis, you can identify customer preferences based on lists of attributes or features for just about any product, service, or issue.
So, if your company makes exercise equipment, you could conduct a MaxDiff survey asking respondents to choose what they like best about your treadmills, such as quietness, online coaching, health metric electronics, or portability.
Gaining insights through a survey using MaxDiff design can be the key to making better, more informed decisions and investments that can help drive growth—and prevent you from costly missteps based on assumptions that aren’t backed by data.
With our intuitive platform, backed by expert survey methodology, anyone can perform MaxDiff studies–even if you're not an expert.
MaxDiff analysis works by forcing people to choose the most and least important attributes from a list provided to them in a survey. This provides insights into what features consumers value most.
MaxDiff is one of several market research methodologies designed to identify and rank customer preferences, producing best-worst data. It is a type of best-worst scaling that gauges survey respondents' preference scores for different items.
Here is a breakdown of how MaxDiff analysis differs from other common methods.
MaxDiff analysis can make a huge difference by getting to the heart of your customers' top preferences and then providing actionable data to help guide your focus and decisions. These key benefits include:
There are potentially a few challenges with MaxDiff analysis as well. Among them:
Are you wondering how to use MaxDiff analysis for different use cases? These MaxDiff examples share how to utilize this analysis type for customer experience, human resources, and marketing purposes.
Customer retention and loyalty are crucial in today's competitive business environment. Identifying key drivers of positive customer experiences is vital, and MaxDiff surveys effectively uncover these essential factors.
MaxDiff analysis helps your business allocate resources to the areas that will have the biggest impact on satisfaction and loyalty.
Example question: “When thinking about your experience with our staff, which of the following is most important and least important to you?”
Example question: “When using our website or app, which features are most important and least important to you?”
HR must quickly adapt initiatives—updating policies, launching programs, and re-evaluating talent management—to retain high-performing employees and align with evolving business demands.
HR professionals can use MaxDiff analysis to improve the employee experience backed by data.
Example question: “Which of the following benefits is most important and least important to you?”
Example question: “Which of these opportunities for growth is most important and least important to you?”
In a landscape of ever-changing customer behaviors, preferences, and expectations, marketers face a significant challenge: truly understanding their target audience's values and effectively communicating those values.
MaxDiff analysis is an excellent method for identifying what customers value most in your products or services. The insights gleaned from MaxDiff analysis can inform messaging strategies and help marketers connect with target audiences.
Example question: “Which of these product features is most important and least important when deciding what to purchase?”
Example question: “When engaging with our brand online, which type of content is most important and least important to you?”
The more you know about what they like and value most, the better equipped you are to keep customers happy and attract new ones to grow your brand and your business.
MaxDiff analysis can play a key role in strengthening your brand. Work with the expert SurveyMonkey research team to use MaxDiff to prioritize features and optimize your product.
NPS, Net Promoter & Net Promoter Score are registered trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
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