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.
Read our top tips for conjoint analysis.
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 five attributes because it will confuse your respondents.
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:
Read more about how to specify attributes and levels.
Typically, discrete choice experimentation requires approximately 60 to 300 participants. Conjoint.ly offers multiple options to get participants for your experiments:
Conjoint.ly lets you change question text, add a redirect link, and do other customisations. You can also ask respondents non-conjoint questions, which can be used in profiling customer segments. The tool supports multiple-choice, long text, short text, number, constant-sum, and other types of questions.
Finally, you need to review the settings, agree to T&Cs, securely pay for your experiment, and launch it. Conjoint.ly will then take care of collecting responses and will let you know when the report is ready.