Successful businesses - whether large, small, for profit, or not-for profit - know that one of the prime sources of new customers are possible prospects with comparable characteristics to the company's existing and best customers. Tapping into a pool of potential customer prospects is not only the key to reaching sales goals rapidly, but exceeding sales goals more quickly than anticipated.
In order to tap into this pool, savvy businesses utilize a survey tool called a prospect analysis survey. Designed and crafted using online survey software, this market research instrument enables a company to perform customer analysis to help for future selection of the best target markets -- and in the process likely increase its sales of its products or services.
Because it can be difficult to stand out in the market without a distinctive and specific set of prospects in mind -- particularly in today's economy -- market research intelligence in the form of a prospect analysis survey tool can give companies a competitive edge in converting prospective customers into existing customers. This type of survey tool can also help you identify market segments and niches that are worth your while in pursuing.
It's also easier to paint a more accurate picture of what a prospective customer looks like, by obtaining relevant and up-to-date data and information about the characteristics, beliefs, needs, and wants of prospects.
Uncovering existing relationships between prospects and existing customers and identifying high potential prospects according to your most profitable current customers are just two of the important benefits of using prospect analysis surveys. In addition, a prospect analysis survey built with survey software not only helps you to identify prospects, but can ensure that you are targeting and marketing to the most valuable potential customers.
Knowing the true sales potential and real profit possibility is a key factor in deciding not only how to prioritize which markets to pursue, but in what order. Prospect analysis surveys can be used to accurately determine the real size of a market niche in terms of both profitability and sales volume.
A potential customer analysis survey can also help you predict the likelihood to purchase across all prospects, which is useful in direct mail, telemarketing, or an online marketing campaign. Once valuable and insightful information is obtained from a prospect analysis survey, a marketer can use the data to develop up-sell, upgrade, cross-sell, or even affinity strategies.
Whether you organization is looking for its first set of customers or desiring to diversify its customer base, you certainly want assurance that the money you are spending on advertising and marketing is being spent looking for the "right" customers.
In today's highly competitive business environment where the tug-of-war to capture customers -- and keep them -- is fierce, companies need to have everything they can in their market research and marketing toolbox to have a competitive edge. And a prospect analysis survey is one such tool.