Why are market research surveys important?
Marketers and business owners know the best way to attract and retain customers is to fully understand them. Market research surveys help you collect hard facts about your market, their needs and motivations. Don't guess when it comes to your business and product, use online surveys to collect data that helps you make smart decisions. SmartSurvey's user-friendly yet advanced online software provides you with the tools you need for your market research survey project.
How to use online surveys to improve your business
Online market research surveys can be used to get to know your current customers. What do they like about your product? What are their buying habits? What is their household situation? Understanding your existing customers will help you keep them happy, whilst giving you the opportunity to attract new people with strategies that you know work. By researching your customer demographics you can identify segments of your market and build consumer profiles. Customise your communication and talk directing to your different consumer profile groups, for example, talk to fitness fanatics about trainers and mums about 'back to school' offers.
It goes without saying that before launching a new service or product you should do your homework. Research and analyse your potential market; how big is it, what do people spend on similar products, does the community need another stationary shop? This will help you make imperative business decisions and shape your marketing strategy. Also use online surveys to research your competitors; why do people buy their product, what does their service cost, what do consumers think about them? This will also help you identify gaps in the market.
Market research surveys are an invaluable tool for collecting feedback on everything from marketing creative and branding to a product innovative or pricing change. Find out if your target market responds best to advert A or advert B, do they prefer the product in red or blue, and what does the name of the product suggest to them? With online surveys you can discover how your target market prefers to receive marketing messages. For example, do you have a consumer group of tweeters and have they even heard of LinkedIn? Focussing your marketing and branding efforts with real consumer feedback improves its effectiveness and makes the most of your budget and resources.
Examples of market research surveys
Here are a few types of market research surveys and how they can be used by businesses and marketers:
Target market and consumer analysis
Do you really know your target market? What consumer profiles buy your product and how do you target messaging at them? Get to know the people who buy your product as well as you know your product.
Product feedback
Ask your existing customers what they think about your product, for example, how can it be improved or is there something they'd like more of? By getting this invaluable feedback through online surveys you can improve customer satisfaction and, ultimately, your profitability.
Concept testing and measurement
Launching a new product or service is difficult enough without worrying how it will be received and if it will actually sell. Conduct online surveys to gauge how the product will be received and whether the pricing is deemed fair. Conducting a concept evaluation and pricing study with your target market will be time very well spent.
Market size analysis
Research the marketplace your product or service will be competing in before you launch or introduce a new innovation. Ask your new target market to complete online surveys and equip yourself with the knowledge you need for success.
Buying habits
Do you know how your consumers buy your product? What do they think about online shopping ? What do they think about your purchase process ? Use online surveys to assess and insure there are no barriers between your product and that sale.
How effective is your advertising? In a time when many consumers experience 'ad blindness' it's imperative to ensure your ads are being seen and reaching the right people. Use online marketing surveys to test your adverts and prioritise your ad spend and marketing budget.
Brand awareness
Online surveys are a quick and effective way to test your brand name or new concept. Does your logo and slogan match your value proposition and does it resonate with your target market? In fact, do they even know your brand exists? And if they do, what does it say to them? These are all important questions and online surveys make it easy to get the answers straight from the people that matter most, your consumers.
Market research survey templates
Feel free to use or customise one of our ready-made online survey templates: