How to set up a Conjoint Study (an overview)
Describe your experiment
(to help you refine the purpose of the experiment)
First off, you need to decide the purpose of the experiment: setting optimal price, understanding what product features are driving customers’ purchases, or choosing a flavour. Using Conjoint.ly, provide some key properties of the experiment, including what kind of product you are investigating and what sort of participants you are inviting to respond.
Specify the attributes you are investigating
(such as colour, flavour, size, length, price, or whatever you are investigating)
Attributes are ‘dimensions’ of your product (such as price, colour, shape, size, brand, location). Include the attributes that you believe are most important to your customers when they make buying decisions, as well as any attribute whose importance you would like to check. For example, if you know that customers are driven by price and size, and want to investigate whether colour is important, include all three attributes (price, size, and colour). Do not include more than seven attributes because it will confuse your respondents.
For each attribute, list several levels
(for example, size can be small, medium, or large)
Levels are the ‘values’ that each attribute can take. For example, the attribute ‘colour’ can have levels ‘blue’, ‘red’, ‘transparent’. The attribute ‘features’ can be ‘no updates included’, ‘automatic update every month for one year’, ‘lifetime automatic updates’. Keep in mind:
- You need to have at least two levels per attribute. if you are looking only at one type of product, make the product description more specific.
- When describing both attributes and levels, use the language that customers understand because in their screen they will see attributes and levels exactly as you describe them.
Read more about how to specify attributes and levels.
Typically, discrete choice experimentation requires from 100 to 1,000 participants. Conjoint.ly offers multiple options to get participants for your experiments:
- Bring your own respondents: Use a list of your customers or leads, or source respondents from elsewhere or integrate with your other survey tool
- Target specific panel respondents: Buy responses from our panel network. Target them by location, demographics, and profiling questions.
- Use a pre-defined panel: Target specific pre-defined respondents (including those who are pre-defined for your company).