Many small business owners and their marketing teams neglect the crucial step of market research surveys when developing new products and services or marketing their existing product and services.
Reasons Given for Bypassing Market Research
Whether they are sure that their product or service is just fine the way it is, are just too busy with generating leads, have their nose deep into business operations, or have budget issues, many companies don't make the investment in market research surveys through the use of online survey software.
Other newly formed small business leaders sidestep market research because they are facing other pricey startup costs. Or perhaps they are so caught up in getting their new product or service to market as quickly as possible, they overlook the benefit of doing proper market research. Still others might think the process of conducting a market research survey is just too complicated to comprehend.
Market research surveys, it seems, can take the backseat. Unfortunately, regardless of the reason, if your competitors are doing so, bypassing survey tools for market research today can cost you profits tomorrow.
Overcoming the Reasons for Not Conducting Market Research
That said, some of these reasons for not conducting market research don't really hold much water today. For one thing, market research surveys, these days, can be done entirely online -- thanks to online survey software.
As survey tools go, today's online survey software enables you to create questions, design surveys, deploy surveys, and receive analytical reports of your survey responses entirely through the web. Professional survey templates are available that are fully customizable to your company's needs and brand.
Want your market research survey tool to be available on mobile devices? That's no problem. Advanced online survey software ensures that your market research surveys are optimized for popular tablets, like the iPad, Kindle, Nook, and Android tablets such as the Nexus 7; this is in addition to mobile smartphone devices, like the iPhone, Blackberry and Android phones. What's more, survey response rates via email and mobile devices tend to be higher than some archaic survey deployment methods, like postal mail and telephone surveys.
Survey software makes it easy to quickly build sophisticated online surveys, deploy them easily, collect the responses, and understand and analyze the data. There's no doubt that today's world is data driven. Companies are under constant pressure to deliver relevant products and services because the consumers demand it. If you don't deliver it, another company will. And chances are, you won't be able to find out this information from published market reports or even internal data. In other words, you will need to conduct your own investigation through market research surveys.
Fortunately, using advance survey software technology puts you in the drivers seat to give existing and prospective consumers what they want. Recognize that market research surveys are an investment in your company's future. Remember, your customers will tell you everything you want to know about their purchasing behavior -- if you just ask.