Market Research — How Surveys Can Help

From launching a new product to refining an existing business, surveys can help get you the data you need to make informed decisions. Without knowing who your customers are and what they want, you’re essentially flying blind. With the right kinds of data, however, you’ll be able to make informed decisions that result in more happy customers and increased profits.

How can surveys help?

==> Determine Your Customer’s Demographics

How old is your average buyer? What’s their annual household income? Are they male or female? What country(s) are they based in?

What are their hobbies? What are their other interests? Are they married or single?

This kind of data is invaluable when it comes to writing your marketing. For example, the kinds of colors that work well when targeting college students are different than when targeting the 40+. The kind of wording and copy is also drastically different.

If you know who your demographic is, you’ll be able to use demographic-targeting advertising like Facebook Ads or direct mail to reach them.

There are so many benefits to knowing exactly who your customers are. Unfortunately, there’s often no way to find out without actually asking your customers. A survey is the ideal way to do so.

==> Identify Future Products

What kinds of products would your customers like to see in the future? What are problems in their lives that aren’t being solved yet? What aspects of your current products do they like and want to see more of?

Instead of launching products that you think are good ideas, a much more profitable and risk-free method is to first find out what your customers want, then create it for them.

If your customers know that by filling out a survey you help serve them better, they’re usually happy to oblige.

==> Evaluate Your Current Performance

When did the package actually arrive? How many rings did they have to wait before customer service picked up? Did they like your product?

Unless you ask, you’ll never know what your customers are really thinking about your product. Even if you could improve your product easily, you won’t know what you need to change without getting feedback.

Remember that people love to be heard. They love giving their opinions and are usually more than happy to take three to five minutes to answer a few questions, especially if they’re already a customer.

As you can tell, there are many different ways to use surveys to help guide your business. You can use surveys to figure out who your customers are, to figure out what they want in future products and to gauge how well your business is currently doing. Don’t be shy about asking — the more feedback you have, the more you’ll be able to help your customers solve their problems.

This article originally appeared here:

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store