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Posts Tagged ‘market research’

By conducting effective market research what you can learn?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to target your marketing and fine tune your product or service.

Know your target market – Who exactly are your existing customers and where do they live? Does your service or product appeal to specific age groups? Who are your potential customers and where do they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your organization and are you improving in the right areas?

Products and services – Do you have the products or services that people want? Is what you offer value for money? How do your services and products compare to that of your competitors? If you have a product can you, do you, should you deliver directly to your customer?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there enough good advice and assistance on hand? Do people find it easy to buy from you? Are your staff properly trained, knowledgeable, helpful and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. What marketing channels are available to you, which ones should you focus on and which, if any, should you drop?

Do people understand your marketing message? Does the marketing material properly represent your brand? Do you advertise through the right channels? Are you reaching the right people?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.

Market research is an essential element of any organization that wants to offer products or services that are focused and well targeted. Business decisions that are based on good intelligence and good market research can minimise risk and pay dividends. By making market research part and parcel of the business process and conducting market research throughout the life cycle of a product or service market research will bring the following benefits:-

• Market research will help you better communicate – Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong. By asking the customer you can take the guesswork out of customer services and show them that you care.
• Market research helps you identify opportunities – If you are planning to operate a new service and want to know the preconceived attitudes people have then market research can help, not only in evaluating the potential for a new idea, but also by identify the areas where a marketing message needs to be honed.
• Market research will minimise risk – Market research can help shape a new product or service, identifying what is needed and ensure that the development of a product is highly focused towards demand.
• Market research creates benchmarks and helps you measure your progress – You need to be able to measure so that you can ensure that your organization is always improving. Early research can identify flaws in your service or areas where a product needs to be improved, by conducting regular market research it will identify if improvements are being made and, if positive, will in turn help motivate a development team.

Market research brings considerable benefits and it is perhaps surprising how few businesses invest sufficient resources to gather good intelligence that will help them improve business. Many may think that market research takes too much time and effort but that is just not the case anymore as through the power of the Internet online survey software is readily available and vital market research data can now be gathered in a quick, simple and cost effective manner.

By conducting effective market research what you can learn?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to fine tune your product or service towards the target market.

Know your target market – Who exactly are your existing customers and where do they live? Does your service or product appeal to specific age groups? Who are your potential customers and where do they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your organization and are you improving in the right areas?

Products and services – Do you have the products or services that people want? Is what you offer value for money? How do your company’s products and services match up to that of your competitors? Can you, do you, should you deliver?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there sufficient advice and assistance on hand? Do you make it easy for people to buy from you? Are all your staff properly trained, helpful, knowledgeable and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. Which are the least effective marketing channels?

Is your marketing message understood? Does your marketing material accurately reflect your brand? Do you advertise and promote through the right channels? Are you reaching the right people?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.

What are the things you can learn by conducting effective market research?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to target your marketing and fine tune your product or service.

Know your target market – Who exactly are your existing customers and where do they live? Does your product or service appeal to specific age groups? Who are your potential customers and where do they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your business and are you improving in the areas that customers demand?

Products and services – Do you have the products or services that people want? Do you represent value for money? How do your company’s products and services match up to that of your competitors? Can you, do you, should you deliver?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there sufficient advice and assistance on hand be it in the form of notices, leaflets or human assistance? Do you make it easy for your customers to buy? Are your employees properly trained, helpful, knowledgeable and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. What marketing channels are available to you, which ones should you focus on and which, if any, should you drop?

Is your marketing message understood? Does your marketing material properly reflect your brand? Do you use the right promotion channels? Are you reaching your target audience?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.

How to create a survey using Survey Galaxy

Writing surveys is considered easy; but is it? The reality is that writing surveys is easy but writing surveys that will be effective is a little bit more difficult. The following tips will help you with your survey questionnaire design so you can write more effective surveys.

1. What is the survey’s purpose?

Questionnaires are conducted for many reasons. By phrasing the questions and structuring the answers surveys can be used in a multitude of ways and for a variety of reasons. When designing a survey don’t lose sight of its purpose.

2. Title the survey

The survey title is key and an opportunity to instantly summarise a survey’s objective and encourage respondents to participate. Respondents need to invest time in completing the survey so encourage them that the investment they make will be worthwhile.

3. Try to keep the survey as short as possible

Every question that is asked should be asked for a reason. Pay attention to the ‘need to know’ questions and minimise ‘nice to know’ information.

4. Use plain English, maintain consistency and avoid terminology, acronyms and asking questions that could result in ambiguous answers

Word the question carefully. If a question can be interpreted in more ways than one then there is a risk that any analysis of the survey results will be worthless or at the very least suspect.

5. Avoid having long questions

Try to use succinct sentences wherever possible. Long questions can cause a respondent discomfort and lead to them abandoning the survey.

6. Ask one question at a time

Avoid confusing the respondent with a question like ‘Do you like football and tennis?’

7. Do not influence the answer

Do not load the question. ‘Should irresponsible shop keepers who sell tobacco to children be prosecuted?’ is likely to have no value.

8. Make sure that the answer format used allows the respondent to answer the question being asked

Ensure that the respondent can answer how they really feel or they may be inclined to abandon the survey. As a last resort consider the benefit of including a “No comment”, “Can’t say”, “Don’t know” or similar response option.

9. When you are compiling your survey consider how the compiled data is going be analysed when the survey is complete

When asking questions that allow for a free text open ended response, such as when asking the respondent for their comments, appreciate that such information is likely to be difficult to score and/or summarised. Consider grouping the answers into groups that will match your analysis requirements. For example “Indicate your length of service?” – ‘less than 3 year’, ‘between 3 and 5 years’ and ‘more than 5′.

10. Ensure that the questionnaire flows

When asking questions group the questions into clear categories as this makes the task of completing the survey easier for the participants.

11. Target your respondents

You may want to target a specific group, in others a cross section. If you can’t control who responds to your survey consider including questions/answers that will allow you to filter out respondents who don’t match your target profile.

12. Provide a channel for your respondents to expand on their answers or make comments

Allowing respondents to make additional comments will increase their satisfaction level and the comments will also give valuable feedback on the specific questions and/or the survey as a whole. Keep in mind though that for a large sample collection it may be difficult to analyse free text open ended responses.

13. If the survey you are conducting is to be confidential ensure that you honour your pledge

If you have assured the respondents that the survey is confidential ensure that the individual data is not to be shared with anyone and not used for any other purpose. Confidentiality must be maintained and any contact information deleted after the survey is complete.

14. Consider the benefits and disadvantages of allowing respondents to be anonymous or identifiable

If your respondents are to be anonymous then you will be unable to follow up or match “pre” or “post” surveys. There are advantages to allowing people to remain anonymous for example it would allow people to respond without possible peer pressure.

15. Carefully consider what the best response format will be

Maintaining a consistency in the format used for responses is good practice. When designing your survey keep in mind that when analysing the data single selection radio buttons are easier to analyse than multiple selection check boxes. Do not use a check box format if a radio response format would do.

16. Advise the respondent as to the approximate time it will take to complete the survey

Respondent drop out can occur if the survey appears to be a stream of never ending questions. It is good practice to give an indication as to how long the survey is likely to take so that the participants can determine the best time to complete the survey.

17. Inform the respondents of the survey end date

Encourage respondents to complete the survey as soon as possible but advise respondents as to the survey’s end date so that they have the opportunity to schedule the necessary time.

18. Trial the survey

Before publishing a live survey publish a small pilot survey to check for questions that are ambiguous or confusing and to ensure that the survey is aesthetically pleasing.

19. Before publishing the survey proof read the survey carefully

Check and then check again that a survey is grammatically correct and makes sense. If possible get someone else to proof read the survey before you publish, if no one else is available then take a break before checking again.

20. Say ‘Thank You’

To complete surveys respondents have to devote their time and should be thanked either in a covering letter, at the end of completing the survey or in a follow up letter. You may even want to consider an incentive such as a reward of some sort.

Getting started is easy and there are many survey software websites to choose from.

For any business that wants to offer products or services that are focused and well targeted market research is essential. Business decisions that are based on good intelligence and good market research can minimise risk and pay dividends. By making market research part and parcel of the business process and conducting market research throughout the life cycle of a product or service market research will bring the following benefits:-

• Market research will help you better communicate – Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong. By consulting with the customer you not only show them that you care but you remove the guesswork out of customer services.
• Market research helps you identify opportunities – If a new service is planned and you want to know the attitudes people have then market research can help, not only by evaluating the potential for the new idea, but also by identify the areas where a marketing message needs to be fine tuned.
• Market research will minimise risk – Market research can help shape a new product or service, identifying what is needed and ensure that the development of a product is highly focused towards demand.
• Market research creates benchmarks and helps you measure your progress – Unless you measure you will not be able to properly gauge how well your business is performing. Early research may highlight glaring holes in your service or short falls in your product, regular market research will show if improvements are being made and, if positive, will help motivate a team.

Market research brings considerable benefits and it is perhaps surprising how few businesses invest sufficient resources to gather good intelligence that will help them improve business. Many may think that market research takes too much time and effort but that is just not the case anymore as through the power of the Internet online survey software is readily available and vital market research data can now be gathered in a quick, simple and cost effective manner.

Market research is an essential element of any organization that wants to offer products or services that are focused and well targeted. Business decisions based on good market research can minimise risk and pay dividends. By making market research part and parcel of the business process and conducting market research throughout the life cycle of a product or service market research will bring the following benefits:-

• Market research will help you better communicate – Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong. By asking the customer you not only show them that you care but you also take the guesswork out of customer services.
• Market research helps you identify opportunities – If you are planning to operate a new service and want to know the preconceived attitudes people have then market research can help, not only in evaluating the potential for a new idea, but also by identify the areas where a marketing message needs to be honed.
• Market research will minimise risk – Market research can identifying what is needed for a new service and product and ensure that the development of a product matches demand.
• Market research creates benchmarks and helps you measure your progress – You need to be able to measure so that you can ensure that your organization is always improving. Early research may highlight glaring holes in your service or short falls in your product, regular market research will show if improvements are being made and, if positive, will help motivate a team.

Market research brings considerable benefits and it is perhaps surprising how few organizations invest sufficient resources to enable them to gather good intelligence that will help them improve their business. Many may think that market research takes too much time and effort but that is just not the case anymore as through the power of the Internet online survey software is readily available and vital market research data can now be gathered in a quick, simple and cost effective manner.

For any organization that wants to offer products or services that are focused and well targeted market research is essential. Business decisions that are based on good intelligence and good market research can minimise risk and pay dividends. By making market research part and parcel of the business process and conducting market research throughout the life cycle of a product or service market research will bring the following benefits:-

• Market research will help you better communicate – Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong. By asking your customers you no longer need to guess what your customers are thinking and you demonstrate to them that you are proactive when it comes to customer services and value their opinion.
• Market research helps you identify opportunities – If you are planning to launch a new product and want to know how people will react then market research will help, not only in predicting how well the product will be received, but also by testing the marketing message to see if that needs to be adjusted.
• Market research will minimise risk – Market research can help shape a new product or service, identifying what is needed and ensure that the development of a product is highly focused towards demand.
• Market research creates benchmarks and helps you measure your progress – Unless you measure you may not be able to gauge how well your business is performing. Early research can identify flaws in your service or areas where a product needs to be improved, by conducting regular market research it will identify if improvements are being made and, if positive, will in turn help motivate a development team.

Considering the benefits that market research will bring to any organization it is perhaps surprising how few businesses invest sufficient resources to gather good intelligence that will help them improve business. Many may think that market research takes too much time and effort but that is just not the case anymore as through the power of the Internet online survey software is readily available and vital market research data can now be gathered in a quick, simple and cost effective manner.

What will conducting effective market research teach you?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to target your marketing and fine tune your product or service.

Know your target market – Who exactly are your existing customers and where do they live? What age group does your product or service appeal to? Who are your potential customers and where do they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your organization and are you improving in the right areas?

Products and services – Do you have the products or services that people want? Are your products and services value for money? How do your services and products compare to that of your competitors? Can you deliver, do you deliver, should you deliver?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there enough good advice and assistance on hand? Do you make it easy for your customers to buy? Are all your employees properly trained, knowledgeable, helpful and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. Which are the least effective marketing channels?

Do people understand your marketing message? Does all your marketing correctly reflect your brand? Do you advertise through the right channels? Are you reaching your target audience?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.

What are the things you can learn by conducting effective market research?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to target your marketing and fine tune your product or service.

Know your target market – Who exactly are your existing customers and where do they live? Does your product or service appeal to specific age group? Do you know who your potential customers are and where they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your business and are you improving in the areas that customers demand?

Products and services – Do you have the products or services that people want? Are your products and services value for money? How do your services and products match up to that of your competitors? If you have a product can you, do you, should you deliver directly to your customer?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there sufficient advice and assistance on hand? Do people find it easy to buy from you? Are your staff properly trained, knowledgeable, helpful and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. Which marketing channels are effective and which ones are ineffective?

Do the right people understand your marketing message? Does your marketing material properly represent your brand? Do you use the correct advertising and promotion channels? Are you reaching the right people?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.