New Perspectives uses market research surveys to discern the truth. We know marketing professionals are committed to the companies for which they work. They understand the benefits of the products and services they offer and typically view these as superior to similar products offered by their competitors. That is why they work for their companies, and that is as it should be.
Too often, however, that commitment to one’s business produces a distorted picture, one which doesn’t match consumers’ opinions about company strengths and weaknesses. It is critically important for marketing pros to move past personal, and often subjective, opinion to a more objective analysis grounded in thoughtful market research surveys.
The Tools of Market Research
To obtain that more objective analysis, marketers can leverage a wide range of market research tools, each of which provides specific research benefits. Focus groups, for example, enable researchers to observe the nuances of consumer response, such as voice inflection and gesture, things that aren’t as readily apparent in other research tools. Eye-tracking software provides a detailed analysis of the ways in which consumers interact visually with web pages or store-shelf product placement. Moreover, interviews allow researchers to dive more deeply into consumer opinions.
Among market research tools, one of the most potent and effective is the market research survey, which captures key data and answers questions central to the success of businesses and individual products. Here are four key benefits of a well-crafted survey, one which asks the most important questions and is conducted in such a way as to garner accurate and actionable responses:
- Breadth of Data: one of the goals of market research is to capture truly representative consumer opinion rather than idiosyncratic responses. Market research surveys tap into responses from a wide audience. This is particularly true when surveys take advantage of the internet. Surveys can be posted on company websites and social media, or distributed via email, to ensure large-scale response and representative attitudes.
- Anonymity: consumers are more likely to provide honest responses when those responses are anonymous. The market research survey allows responders to tell researchers what they think.
- Depth of Data: surveys enable researchers to collect important demographic data, such as education levels, job titles, industry and income, as well as those related to age, race and gender. These data, when combined with opinion-related questions, enable a more meaningful analysis which in turn promotes more nuanced improvements related to individual market segments.
- Customer Appreciation: consumers tend to be flattered that companies ask for their opinions. The market research survey can serve not only to provide useful data, but also to promote customer engagement which can, in and of itself, produce improved sales.
Market research surveys, when done right, can provide a wealth of usable data to improve products and services, as well as to fine-tune current marketing strategies. Although surveys can be conducted in-house, most businesses do not possess the specific expertise to conduct such surveys or effectively analyze generated data. Attempting to conduct surveys in-house can be both time-consuming and less cost-effective than outsourcing to a market research company with the tools, experience and expertise to ensure accurate results.
For more information about market surveys and other research tools, contact New Perspectives today.