Introduction

The dynamic domain of market research is witnessing a paradigm shift with the advent of innovative platforms like Yazi and SurveyMonkey. While both platforms are engineered to facilitate insightful market research, their approaches are distinct, catering to different segments of the market research landscape. This comparison seeks to unveil the unique attributes of Yazi and SurveyMonkey, spotlighting their capabilities, especially in the context of emerging markets like Africa. Emerging markets present a unique set of challenges and opportunities. The necessity for innovative, accessible, and engaging data collection and analysis methods is paramount to ensure a representative and insightful understanding of these diverse markets. In this light, the comparison will delve into how Yazi and SurveyMonkey navigate these waters, each with its distinctive oars.

Data Collection Types (Media + Question Types)

1.1 Video, voice, pics, open text

At the heart of qualitative research is the richness of data, and Yazi takes a pioneering leap by integrating with WhatsApp, a platform that enjoys widespread usage in emerging markets. This integration facilitates the collection of varied media data including

• video,
• voice notes,
• pictures, and
• open text,

right from the familiar interface of WhatsApp.

On the other hand, SurveyMonkey offers a robust digital survey platform with capabilities to collect media data, albeit not with the same level of ease and familiarity that WhatsApp integration offers. The ease with which participants can share media on Yazi could potentially lead to richer data collection, enhancing the depth of insights.

• Rating scale
• Click map
• Slider
• Matrix Questions

1.2 Types of Questions: Multiple select, single select etc

Diversity in question types is crucial for capturing nuanced responses. Both Yazi and SurveyMonkey support a variety of question types including

• multiple select,
• single select,
• and open-ended questions among others.

However, Yazi's integration with WhatsApp may offer a more interactive and engaging environment for respondents, potentially leading to higher response rates and richer data. The comparison underscores the flexibility and user-friendly nature of question scripting and deployment on both platforms, each with its unique strengths.

Panel Management

2.1 Incentive Management

Incentivising participation is a proven strategy to enhance response rates and ensure a diverse panel.

Yazi leverages their autonomous incentive payment system to reward participants in the way they like to get rewarded. Due to them operating in emerging markets, they have gotten a good sense of how people like to get rewarded in those markets. This aspect of panel management is integral in ensuring a diverse and representative sample, especially in emerging markets where incentive-driven participation can significantly drive engagement.

Incentive Payment Options:

• Airtime
• Digital Cash
• 80 000+ In-store vouchers
• Cash send to participants number

Businesses can integrate Yazi with their own CRM or marketing automation systems to automate the payout process.

SurveyMonkey, on the other hand, also provides features for incentive management although not integrated within a widely used communication platform like WhatsApp. The ease of incentive distribution and the familiarity of the platform could potentially set Yazi apart in terms of panel management, especially in regions where WhatsApp is a central communication hub.

Incentive Payment options:

• Cash: Respondents can receive cash payouts via PayPal or bank transfer.
• Gift cards: Respondents can redeem their survey earnings for gift cards to popular retailers such as Amazon, Starbucks, and Target.
  

Recruiting Participants / High Response Rates / Distribution

3.1 Re-engage Audience - get them to complete

Recruitment and re-engagement of participants are crucial for achieving high response rates and ensuring the data collected is representative.

Yazi leverages the familiarity and widespread use of WhatsApp to reach a broader audience, ensuring higher response rates. The platform's capabilities to re-engage participants through WhatsApp, a platform checked over 23 times per day on average by users, makes it a potent tool for maintaining participant engagement and encouraging survey completion.

Key Stats:

• 60%+ Response Rate
• 2-5x Turnover Rate

On the flip side, SurveyMonkey employs digital channels like email and other social media platforms for recruitment and re-engagement. While effective, these channels may not offer the same level of engagement and response rates, especially in emerging markets where digital access may be limited or where the familiarity with platforms other than WhatsApp is lower. The ability to connect and re-engage with individuals on a platform they frequently use sets Yazi apart, potentially leading to more successful recruitment and higher response rates.

Data Export, Reporting, and Analysis

4.1 AI Analysis

Data analysis is the cornerstone of deriving actionable insights from market research.

Yazi’s AI-powered analysis swiftly turns raw data into real-time insights, a feature pivotal for making informed decisions promptly. Whether it's text or media data, Yazi’s AI capabilities ensure a thorough analysis, providing a deeper understanding of the market.

Main Features:

• AI Voice Note Transcription
• AI Open Text Translation
• AI Open text analysis
• AI Sentiment Analysis

On the other side, SurveyMonkey also offers robust analysis features, and also has a suite of AI offerings to boost your reports and understand their data well. Their AI technology is primarily leans towards the text responses that you would get through them as there is no mention of any other use of AI.

Main Features:

• AI powered Sentiment analysis
• Word clouds
• Regression analysis
• Cross tabs

4.2 Audio Transcription for Voice Notes and Video

Transcribing audio and video data is an essential step in qualitative analysis.

Yazi excels in this area with its AI-driven audio transcription features, which automatically turn voice notes and video data into text, ready for analysis. This feature enhances the richness of qualitative data collected via WhatsApp, making Yazi a powerful tool for in-depth market research.

SurveyMonkey, although capable of handling video and audio data, may not offer the same level of seamless transcription and analysis, potentially requiring additional steps or third-party services to transcribe audio and video data. Yazi's integrated audio transcription feature signifies a leap towards more efficient and richer qualitative data analysis.​

Comparative Analysis:

1. Initial Setup:
2. Yazi has a one-time setup cost while SurveyMonkey doesn’t mention a setup cost, the costs are more tied to monthly or annual subscriptions.
3. Project-Based Pricing:
4. Yazi has a usage-based pricing model for research projects, while SurveyMonkey operates on a subscription model with different tiers.
5. Subscription Model:
6. Both platforms have a tiered subscription model, but SurveyMonkey's pricing is per user for team plans, whereas Yazi's pricing is based on Monthly Active Users (MAUs).
7. Additional Features:
8. Yazi offers incentive management, survey design & research assistance, and advanced analysis & reporting as add-on services with associated costs. SurveyMonkey doesn't clearly mention such add-ons but provides different features within its plans.
9. Customization and Scalability:
10. Yazi offers a custom pricing tier for over 3,000 MAUs, indicating a level of scalability and potential customization for larger user bases. SurveyMonkey also caters to enterprise-level needs with its Enterprise Plans.
11. Focus:
12. Yazi’s pricing and features emphasize facilitating market research projects through WhatsApp integration, while SurveyMonkey provides a broader range of survey creation and distribution options with a more traditional online platform approach.

Conclusion

The comparative odyssey through Yazi and SurveyMonkey unfolds a narrative of innovation meeting tradition in the realm of market research. The journey accentuates Yazi's formidable edge in emerging markets, a feat achieved through the ingenious integration with WhatsApp and AI-powered analysis. This blend not only facilitates a seamless data collection experience but also empowers real-time insights, making Yazi a robust tool especially tailored for the nuanced landscapes of emerging markets like Africa. SurveyMonkey, with its established digital survey infrastructure, offers a conventional pathway to market research, which holds its own merits. The exploration urges market researchers to venture into the distinct offerings of both platforms, aligning their choice with their specific research needs and the demographic intricacies of their target audience. While both platforms are stepping stones towards insightful market research, Yazi's tailored solutions for the African market, characterized by its WhatsApp integration, presents a compelling proposition for those navigating the market research maze in emerging markets.