Small Businesses Benefit from Survey Research Analytics

March 29, 2018

Surveys have become an essential item in the tool belt of online marketing experts over the past decade. As the internet has made it very easy for companies to survey their prospective customers, there is no reason why you shouldn’t take advantage of this.

Surveys benefit small businesses in two ways: surveys show customers that their opinion matters, and help gather valuable information that can be used to enhance products and 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 when compared to paper or phone surveys. That means that small businesses can potentially get thousands of responses for a fraction of the cost. The most effort comes from creating the survey. Once that’s done, the effort is minimal. In fact, the entire process can be automated.

Surveys provide extensive information

Naturally, the information provided by a survey is directly affected by its quality, so you’ll want to make sure that you create a high-quality survey. Accomplish this and you’ll gain access to extensive information that no other form of research can touch! This gives small businesses an edge because they have access to targeted results that can be used to make important decisions.

Surveys offer flexibility

Once surveys are created, there are many different ways that small businesses can administer surveys, with paid online surveys, social media surveys and email surveys the three most common methods. Surveys provide you with a wide range of data from a variety of sources, including your current customers, your competitors’ customers, and a random sampling of people from targeted demographics.

Surveys are dependable

Surveys provide small businesses with the opportunity to cultivate the perfect questions for potential consumers, which will provide more focused data than other sources. The trick with research is to ensure that your information is accurate. Surveys are usually the best way to get consumers to provide honest answers because there’s really no reason to lie. However, be sure to specify that the survey is anonymous.

Personalize the customer service approach

Finally, surveys provide you with the information you need to improve your customer service approach. Small businesses must have a more personalized approach than their larger competitors. It’s their main advantage and the reason why many customers choose to do business with them. You can find areas within customer service where you might be lacking. This will allow you to take action to improve the quality of your business.

The two most common types of surveys

Now that we’ve covered some of the benefits of surveys, here are the two most common types of surveys:

Market analysis surveys are 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 that customers have interacting with products within the market. These products will usually be your products and those of your competition. This is usually done in the form of paid surveys.

Customer follow-up surveys are sent to customers after they make a purchase. Pretty much every major business in the world uses this type of survey, often offering a discount in exchange for their customer’s 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.

 

Written by Jacob Haney