What is Conjoint Analysis?
Conjoint analysis, aka Trade-off analysis, is a popular research method for predicting how people make complex choices. Conjoint asks people to make tradeoffs just like they do in their daily lives. We can then figure out what elements are driving peoples’ decisions by observing their choices.
Conjoint analysis is really about getting into the mind of the consumer. What messaging do consumers respond best to? By isolating messaging variables in a choice-based environment, businesses are able to identify the right message for the right audience.
Potential messaging element categories for a study might include:
- Consumer insight
- Brand promise
- Reason to believe
- Benefit – rational or emotional
- Brand name
Optimization Group is fluent in all of the “flavors” of Conjoint and can identify which “flavor” is right for you. Conjoint tools enable us to identify the optimal brand positioning or messaging…without asking direct questions. Imagine a deck of cards…
- You are dealt a hand
- You know in a moment if it is a “good” or “bad” hand
- You evaluate the hand as a whole
This is how Conjoint Analysis works – it is based on Communications Theory of Stimulus – Response. We know what response we want to achieve (email sign-up, purchase, etc.)…what stimulus (messaging) is MOST LIKELY TO ACHIEVE this response?