m Survey Market Review, Trends
- Part of series SPECS4US - Specs4US All - Series and Guide
- Survey Trends and Key Factors
- SEG: New Product and Startups
- SEG: SALES, MARKETING - Business Surveys
- SEG: Market Research and Quantification Surveys
- What is market research? Hits are not made by Seat-of-Pants!
- Secondary market research comes first
- Primary, or original research for more RELEVANT info
- KPIs - Get detailed, actionable NUMBERS or subjective
- Analysis is Required - usually Statistical, Cross-tabs
- 1. Focus groups
- 2. Product testing
- 3. Customer interviews
- 4. Surveys - Email beating Snail-Mail
- Gauge your marketing efforts.
- SEG: HR Surveys
Survey Trends and Key Factors
Online Surveys make it far easier
In offline world taking surveys and opinion polls was a challenging and time-consuming task. However, various Survey Apps that are available in the market have changed the way we take surveys these days. Everything is on the internet and people from across the globe can take numerous surveys irrespective of their geographical location, demography or social status.
Enter to Win - motivate users to partake in surveys
Not seen as an Ad
Problem: Customer Dis-satisfied Most likely to fill surveys
Problem: Pay-for-Survey Incentives can backfire in accuracy - "Get opinion you pay for!"
As an incentive for consumers to fill out online surveys, companies offer them rewards. At Web sites like e-Rewards and MySurvey, consumers either earn money or points for each survey they fill out and submit. Those points can be redeemed for rewards such as discounts on products, free airline miles or gasoline gift cards.
SEG: New Product and Startups
SEG: SALES, MARKETING - Business Surveys
Make the right business decisions with Data Driven
“Our strategy is driven by data and one important source is customer insights. Qualtrics makes it quick and affordable to gather these insights”
Admit your ignorance - Get valuable Market Information
New Product Ideas, Insights
- Discover new product or services. Could you offer more to your clients and customers? Provide a business survey targeting your line of products and services to see if you’re missing out on valuable offerings.
Quantify customer satisfaction
Give them a voice with a customer satisfaction survey and hear what they have to say.
Analyze and track customer insights. Your customers are very often the best audience to give you information on how your company is doing.
Fine-tune Your Customers UX
Create online business surveys to gauge the interests and satisfaction of your customers.
SEG: Market Research and Quantification Surveys
What is market research? Hits are not made by Seat-of-Pants!
In the business world, an untested idea is a bad idea.
Before spending millions of dollars designing, manufacturing and marketing a product, companies first have to figure out whether anyone even wants to buy it. So, companies invest in market research because it gives them hard data upon which to base their important decisions
All in an effort to determine which logo is the catchiest, which flavor of potato chip is the most addictive and which pop song will be the next big hit [source: The Huffington Post].
American companies spend billions of dollars each year on different forms of market research.
Secondary market research comes first
Secondary research uses existing sources to find information about the type of product a company wants to sell and the current market for that product. These existing sources could be newspaper and magazine articles, white papers by industry experts or government statistics. Essentially you build up a "Book" of facts - a company gathers all of the existing market research available
Often the information is not quantified, is "opinion" like court "hearsay",and full of myths and misinformation.
Primary, or original research for more RELEVANT info
Primary research yields data that the company generates through its own focus groups, interviews and surveys.
a. Qualitative Primary research is more in-depth and focuses on getting answers to particular questions and concerns. Examples of qualitative research are focus groups and one-on-one interviews.
b. Quantitative Primary research typically uses e.g. surveys to collect large amounts of responses that can be analyzed statistically. Those responses can either be recorded by the consumer himself or by a researcher asking the questions
KPIs - Get detailed, actionable NUMBERS or subjective
Market research data can come in the form of objective numbers (how many times the average consumer buys popcorn each year) or subjective opinions (what each consumer's ideal popcorn flavor would taste like).
Analysis is Required - usually Statistical, Cross-tabs
Once collected, the data is analyzed for buying trends and other patterns of consumer behavior that can help the company make informed decisions about how to design and market its product.
Statistical analysis is useful for identifying trends and predicting future buying
1. Focus groups
2. Product testing
3. Customer interviews
4. Surveys - Email beating Snail-Mail
Surveys, therefore, are an example of quantitative primary research. A survey uses a list of set questions to generate and capture consumer responses. Surveys are either conducted in-person, over the phone, by mail, e-mail or through a Web site
Surveys, in particular, can easily be conducted online or over e-mail.
To save time and money, many companies are turning to online market research triggered mainly by E-mail.
The cost of a 200-person, e-mail survey is $2,500 to $5,000. To get the same number of responses from a snail mail survey would cost between $5,000 and $7,000, and phone surveys can run as high as $15,000
Gauge your marketing efforts.
There are a lot of myths but hard to quantify real ROI of alternative marketing mixes. - TV is old style - does anyone see it? - If your products target a certain affluence, age or other audience, but your ads go to other demographics does it help? - Execution matters - if you "outsource" ad placements - maybe they are being shown 10x to same person, and making them angry instead of helping
Improve your PR and marketing with a marketing survey and see if your efforts are right on target or are missing the mark.
SEG: HR Surveys
Evaluate employee satisfaction.
Engaged, passionate employees means a more productive and successful workplace. See what the mood is in your company when you conduct an employee satisfaction survey.
ROI on Employee Benefits, Training, Events, Meetings
- Event Surveys - Companies spent a lot of time planning that meeting or event. Ask you employees or outsider attendees if they enjoyed the conference, sales event, or party. Ask for feedback using a event survey.
Survey your Employees
Casual Fridays? Bagel Wednesdays? A field trip to the zoo? Give your employees something fun to discuss – and improve morale – when you offer a fun survey geared toward fun at work.