SurveyMonkey has made MaxDiff Analysis available for its users to enable them to easily capture best-to-worst ranking, while accurately collecting respondent preferences on different items, such as product features and employee benefits.
MaxDiff, short for Maximum Difference Scaling, is a statistical technique used in market research to understand and prioritize the preferences of individuals for a set of items. It is often employed in situations where there are numerous features or attributes, and researchers want to identify the most and least preferred options among them.
Available free of charge for SurveyMonkey customers on Advantage plans or higher, the solution presents survey respondents with a random subset of attributes to evaluate. Then, the survey creator is given a list of rank-ordered preferences to quickly see what features the respondents value the most and the least.
“Businesses increasingly feel pressure to focus investments in areas that will have the highest impact on the bottom line. We’re excited to introduce the SurveyMonkey MaxDiff solution, which empowers our users to focus on what matters most to their target audiences—and run this type of analysis faster, more frequently, and at a lower cost,” said Samuel Bakouch, Senior Vice President of Product Management at SurveyMonkey.
This way, users can identify which attributes, product features, or marketing messages need attention to maximize audience satisfaction.
Some of the features of the SurveyMonkey MaxDiff solution include:
- in-product guidance for setup and analysis
- seamless integration with SurveyMonkey Audience, a sample panel with demographic or custom balancing options
- methodologically-backed experimental designs that help reduce bias in survey creation to generate more accurate, insightful feedback and more.
The company has recently released SurveyMonkey Forms, a new offering that combines an intuitive form solution, a collection of app integrations, and customizable templates for various purposes.