Is Survey Really Needed for Market Research?

Market Research survey

Market Research survey

As the expert marketers exclaim, the only way to hold on to your customers is to know what exactly they want. This is one area, where intelligent guessing and judgments seldom work. In order to get rid of it, experts also suggest running thorough market research, which is a great way to connect with the basic customer behavior and understand what they really require. Business analysis is performed in numerous ways including surveys. A survey is one of the most powerful weapons at your disposal. However, knowing the ways to use this weapon and understanding the gathered data determines how lethal it will prove for your business.

Advantages of Survey in Industry Analysis

Today, when virtually entire world is falling for industry research, marketers can easily access a vast amount of ready-to-use data collected from unknown sources. However, this data fails to draw definitive conclusion owing to the lack of direction and its unstructured nature. In this situation, surveys always come to the rescue. For a market research company, survey is a great way to understand the customer buying habits, analyze target markets, and receive product feedback, target and gain new customers, measure awareness amongst the existing as well as target customers and tracking the slightest changes in the behavior pattern of your customers. Online survey is the latest trend in the researching world. Direct and online access to market data makes things more interesting for the analysts and organizations.

Use Survey for…

Experts in this field often suggest that when in doubt a researcher should perform a quality survey. These doubts could range from the quality to color and packaging of the products. In any such case, organizations should opt for surveys that help customer express their requirements and desires about certain products and services. Information gathered through these surveys is always useful for detailed analysis for future reference in terms of product designing, strategic planning and documentation. You can always use surveys for the following reasons:

  • Any kind of updates needed or demanded in product offering and pricing
  • Annual or biannual review of business strategy and market research for the same
  • Strategies and campaigns for social media marketing
  • Get access to customer demographics and preferences
  • Understand the basic of segmentation of the marketplace
  • Naming, branding and positioning of the organization
  • Understand customer satisfaction, involvement, and engagement and awareness levels
  • Compare more than two campaigns to finalize the best amongst the two

Tips for Survey

  • Always be aware of your target market, which you can do by defining the demographic and geographic parameters.
  • Calculate the net promoter score and customer satisfaction survey to attain actionable data for future reference
  • Always keep the survey drills short, simple and interesting. It will keep the customers engaged and will help you collect accurate data
  • Always use certified marketing survey templates, which are written by professionals, hence most likely to be ideal
  • Maintain transparency with the customers and privacy with the personal data and demographics collected during the surveys