30 Aug How Online Surveys Aid in Market Research?
How Online Surveys Aid in Market Research?
Whether it is the introduction of a new product in the market or trial of an advertising campaign, online surveys for market research cannot be ignored as it aids in making of smart and perfect decisions. Right from study of consumer habits, testing of newer concepts, gauging of brand awareness and market size, everything calls for undertaking of market research.
Online Surveys Help in Conducting Market Research
Market research for a startup or a Fortune 500 company is beneficial in gaining an instant analysis about market segmentation at a reasonable cost. It also helps in gaining insight about the consumer demography in a specific area along with assessment of consumer satisfaction including the response that the company is likely to get with respect to the launch of new products.
The success of any business lies in retaining the existing consumers, getting more business along with having complete knowledge about the needs of the consumers. Just making a guess or taking a decision based on gut feeling won’t be of any help when the organization plans to launch new products in the market or wants to convey the perfect marketing message to the consumers.
Targeting Specific Audience
Online surveys provide splendid opportunities for those companies who want to attain maximum input from their target market. The only requirement being existence of a good market sample in the form of consumer list or social followers should be available to the company to carry out the survey. Those companies that send surveys to list of members of a specific target market can be rest assured that their efforts will be duly rewarded.
Inviting Feedback & Suggestions on Improvements
Just making the consumer fill an online product survey form will enable companies to gain idea about those insights that are responsible for bringing in improvement in the product, level of satisfaction obtained by consumers and the corresponding increase in sales. For getting a genuine feedback from consumers , companies need to ask for direct and specific questions such as the changes the consumers feel should be made in the existing product or what are the specific reasons that is driving the consumer to choose the competitors products? Or which is the favorite competitor’s product of other companies that the consumer is currently using?
Ease of Using in Social Media Campaigns
With social media gaining lot of popularity in recent years, online surveys conducted through reputed social media channels is a great way to make your online presence felt. Likes, tweets and surveys provide companies with a fairly good idea about why consumer prefer or choose a specific product over the other thus enabling companies to take the requisite steps. Also, organizations can keep the dialogue open with consumers through regular blogs featured on their websites. In short, it is a fantastic medium available to most companies as they are able to find the answers they need through online surveys.
No company can afford to do away with online surveys in the current competitive market scenario. In fact, every company should strive to make online surveys a part of their marketing strategy.