Definition: 

An omnibus survey is a quantitatively efficient and cost-effective method of conducting market research in which multiple companies pay to conduct a single survey. In this method, each company presents its own survey questions and finally, a single questionnaire with questions provided by several companies is designed and completed with target customers. Usually, each company, in addition to receiving the answers to the questions it asked in the survey, also receives the general survey results and all colleagues can access them. Generally, Omnibus surveys are conducted periodically (monthly or quarterly) which helps to examine consumer trends. An omnibus panel is created and administered by a market research firm. In the past, these polls were conducted by telephone, and today, they are conducted online through smartphones, tablets, laptops, etc.

Advantages: 

The Omnibus research method has significant advantages, including:

• being affordable; Due to cost-sharing among several companies
• The possibility of examining a larger sample size and, as a result, receiving a more valid output; The possibility of examining a larger sample size and, as a result, receiving a more valid output; Due to the presence of capital compared to projects exclusive to one company
• Common and standardized questions designed for each company
• Speed in execution and results
• Access to the audience at the national level
• Discover long-term market trends; Due to continuous execution over time

Limitations: 

        Omnibus, like other methods, also has limitations as mentioned below:

• Lengthening of the survey: As the number of companies in an Omnibus panel increases, the number of questions increases and therefore the survey becomes long and boring for the respondents, and it may even be faced with non-cooperation of the respondents.
• Generality of the audience: Due to the generality of the audience, it is not possible to target a specific group of audience such as women, house owners, etc.