Keeping your customers coming back is tough. Leaving businesses to ask one crucial question: How do we know what people want?
Watching market trends and predicting consumer behavior is important for independent research. But your customers are the best resource.
Leading market research firms know that data-driven insights are gold. And surveys don’t need to be expensive or extensive. They can be versatile and they get brownie points for being dependable. And still, there’s room for improvement.
Fewer than 40% of businesses use consumer research to drive decisions.
Of course, consumer research is costly and time-consuming. Traditional research methods can delay your team’s progress for months. But that’s not the case anymore. You don’t need to dish them out in person anymore. Administer them online, email, social media, mobile, and telephone. And the anonymity helps generate valid responses.
Here are 5 ways you can use surveys more effectively this 2021
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Test the product or service before launching
Preparing for a product launch? Campaigns can be a huge undertaking. Help your research team feel more confident that they’re heading in the right direction. Surveys are a great way to gauge the reaction of the audience. You can take risks with the content that goes on the surveys. Make different versions of your offering and let your consumers decide which they like best.
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Spot trends early
Elon Musk picks the money now? Sorry, it isn’t a cosmic joke that memes stocks became popular. It was already in the air. And happy were those who spotted this crazy trend early. The digital world moves fast. And the things in the digital world are also constantly evolving individually and in relation to each other. If your research team has thoughts about the latest trends, put those hunches to test and put some data behind those ideas. You’ll need more than casual glances to spot the underlying depth of temporary trends.
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Understand different customer groups
To work magic in your consumer research, you’ll need to know your target groups. These may not necessarily be categorized in terms of age and geography. Look for more solid behavioural and demographic details like interests, values, and purchase intentions. One set of surveys may sound very different from those for the next group.
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See what consumers think of your competition
The same product or service may be offered in different packages. Studying your competitors’ positioning, their niche markets, their revenue and pricing models, and features can help you position your brand better. In any case, with the rising popularity of blue ocean strategies, you’ll find that some of the wealthiest businesses are those who broke entirely new ground. Remember SixDegrees.com from 1997? Yeah, me neither. But we all signed up on Facebook from the mid-aughts. Not merely because Facebook was “better” but because it strategically offered so much more.
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Get feedback on new product ideas
Honest customer feedback is crucial to developing a good product. Getting feedback is easy when there is something in it for the consumer. You can incentivize this in many ways. For instance, Carsten Schaefer of Crowdy.ai suggested offering a beta version of their product in exchange. Customer surveys must be short and crisp (about 4 or 5 questions most relevant to your business). Your audience will use verbiage that you can bake into your website. And oftentimes, they’d be very different from how you describe them.
Do you think it’s hard reading your customer’s mind? Try surveys.
Your customers are your compass and the best market gauge. Surveys have the ability to directly uncover what’s at the heart of your business problem.
Every interaction counts. Want to know more about surveys that work? Head over here.
