Solo purpose of any business is to earn profit by offering the product or services that satisfy the customers and to grow by involving more and more customers to the business. Market research is the most common and traditional way to identify the potential customers and to understand what they want. Market research help to know your position in the market in respect to your competitors. Here are few easy-to-follow tips for market research that can impact the accountability of the market survey.
1. Give the Research Purpose
Every market research comes with an objective. The very first tip for market research is to identify the main objective of the survey. Try to stick to one objective with one market research survey. Too many objectives are really tough to achieve through one market research and the survey may get diverted from serving its primary goal.
2. Incorporate Some Sort of Incentives
It is hard truth that rewards attracts people and it is the best way to involve more and more people to participate in the market research but too much cash reward can also lure some opportunists to earn fast cash and thus affecting the objective of the survey. Try to offer incentive or discount on the product which the customers are looking for rather than offering cash money prize.
3. Try Not to Use the Word “Research” or “Survey”
It sounds weird but words like “research” or “survey” actually freaks out people. Most of the people avoid participating in such surveys in fear of wasting too much time. Try to replace the word “survey” with “your opinion” or “feedback” or “advice”. These types of words help your market research to make more rounds, gathering more data from a large number of people. This wordplay seriously impacts both quantity and quality of the collected data.
Market research helps not just to gather data but also offers many unnoticed aspects of business that you can exploit to grow more rapidly. With a properly done market research survey, you also get to know about the quality and market position of your own product.
1. Give the Research Purpose
Every market research comes with an objective. The very first tip for market research is to identify the main objective of the survey. Try to stick to one objective with one market research survey. Too many objectives are really tough to achieve through one market research and the survey may get diverted from serving its primary goal.
2. Incorporate Some Sort of Incentives
It is hard truth that rewards attracts people and it is the best way to involve more and more people to participate in the market research but too much cash reward can also lure some opportunists to earn fast cash and thus affecting the objective of the survey. Try to offer incentive or discount on the product which the customers are looking for rather than offering cash money prize.
3. Try Not to Use the Word “Research” or “Survey”
It sounds weird but words like “research” or “survey” actually freaks out people. Most of the people avoid participating in such surveys in fear of wasting too much time. Try to replace the word “survey” with “your opinion” or “feedback” or “advice”. These types of words help your market research to make more rounds, gathering more data from a large number of people. This wordplay seriously impacts both quantity and quality of the collected data.
Market research helps not just to gather data but also offers many unnoticed aspects of business that you can exploit to grow more rapidly. With a properly done market research survey, you also get to know about the quality and market position of your own product.
No comments:
Post a Comment