5 Ways Small Businesses Benefit from Survey Research Analytics
Written by Jacob Haney
19 April 2018
Surveys have become a key tool on the belt of online marketing experts over the past decade. The Internet has made it very easy for companies to survey their prospective customers. And you know what? There is no reason why you shouldn’t take advantage of this!
Surveys benefit small businesses in two ways: they show customers that their opinion matters and they help gather valuable information that can be used to enhance their services. In short, small businesses can benefit greatly from survey research analytics. Here’s why.
Surveys are Inexpensive
Online surveys have a very low cost per respondent compared to paper and phone surveys. That means small businesses can get thousands of responses for a fraction of the cost. The most effort comes from creating the survey. The great news is once that’s done, further attempts are minimal. In fact, the entire process can be automated, so no time to waste.
Provides Extensive Information
Naturally, the information provided by a survey is directly affected by its quality so you want to make sure that you create an efficient inquiry. Accomplish this and you’ll gain access to extensive information that no other form of research can cover! This gives small businesses an edge because they have a chance to get more insight to targeted results and use that to make important decisions.
There are a lot of different ways that small businesses can administer surveys once they are created. Paid online surveys, social media, and email marketing are the three most common outlets that online businesses use. This makes it possible to gather information from current customers, your competitors, and a random sampling of people from targeted demographics. Surveys provide you with a wide range of data from a variety of sources.
Surveys are Dependable
Surveys provide small businesses with the opportunity to cultivate the perfect questions for potential consumers, so they will generate more focused data than other sources. The trick with research is to ensure that your information is accurate. Such questionnaires are usually the best way to get consumers provide honest answers because they really have no reason for them to lie. Just be sure to specify that the survey is anonymous.
Personalize the Customer Service Approach
Finally, surveys provide you with the information to improve your customer service approach. Small businesses must feel more personalised than their larger competition. It’s the main advantage that they have and the reason why a lot of customers will choose their business. You can find areas within customer service that you might be lacking. This will allow you to take action to improve the quality of your business.
The Two Most Common Type of Surveys
This post has shown you some of the benefits of surveys, so I feel that describing the two most common types of surveys will be useful.
This type of survey is popular for small businesses looking to get into a new market, but it can also be used to discover what a current market prefers. Either way, market analysis surveys have questions based around the experience customers have interacting with products within the market, be it your product or your competitors’. This is usually done in the form of paid surveys.
This one is all about the survey sent to customers after they have made a purchase. Pretty much every major business in the world uses this type of survey, usually offering a discount in exchange for your opinion. This is probably the most important type of survey because it allows you to gauge the experience of customers who are willing to spend money on you.
The type of survey that your business uses will depend on your goals, but it’s important that all small businesses invest in this powerful form of research.
There are loads of awesome platforms out there that enable creating engaging surveys with ease, take Typeform, for instance, for a really friendly Q&A experience. You can even place it on your website to get more insight on every stage of the customer journey.
You can also go pro and let marketing professionals handle these surveys because they can be so much more objective and they have the sophisticated skill set to deliver the best results. If you’re planning to invest money in marketing, then surveys are the best place to start.
Every small business needs to make market research a priority. With so many options out there, having a small budget is no longer a viable excuse. You can position your business for the best possible growth starting from today!
About the Author: Jacob Haney is a content marketer presently working with Research Optimus, a business research outsourcing company. A writer by day and a reader by night, he is loathed to discuss himself in the third person but can be persuaded to do so from time to time.