10 Most Common Market Research Surveys You Need to Use
There are a ton of different market research surveys you can run. Basically, if you can dream it, you can do it. But more choices don’t always lead to more decisions. Sometimes it’s wiser to know what the majority of other market researchers are doing and go from there. By focusing on tried-and-true categories like product research, customer satisfaction, and brand awareness, you can cover a broad range of feedback that will give you valuable insights for building a more solid business strategy.
Here’s a list of the 10 most commonly used market research survey types that’ll help you to gather valuable insight, ensuring your efforts produce results in your attempt to understand your audience and tailor your strategy.
1. Market Discovery Surveys
General market research helps you build a “map” of your entire marketplace. Where is it? How big is it? Who’s shopping? These market discovery surveys allow you to determine growth potential, your positioning among other competitors, and your share of the market. Armed with this data, you can better identify who your target market is, what they want, and how best to reach them. From there, customer segmentation allows you to further break down the market into smaller groups (like demographics, geography, psychographics, and buyer behaviour) for more targeted marketing and personalized experiences.
2. Product Development Surveys
Conducting initial research about customer responses to new products is a great way to gauge performance before formal release into the market. Concept test studies allow you to collect likes and dislikes about new product ideas, as well as the potential for purchase. To delve further, you can even conduct new product acceptance surveys to estimate demand and performance. In addition, keeping tabs on your existing products through product feedback will help you perceive changing buyer behaviours before they become widespread, while continuing to improve the product as the market changes.
3. Usability Testing Surveys
Habits and uses surveys give you insight into all customer usage situations, including when, where, and how the product is typically used. Usability testing can also help you determine whether the product is achieving its intended uses and promises of quality. This can be conducted for both physical and digital products and is especially effective in prototyping or beta versions, as it allows you to work out any bugs before the product hits the market.
4. Brand Awareness Surveys
Some of the most beneficial market research you can conduct isn’t about your customers or your product/service at all, but rather about your brand as a whole. This includes brand awareness, identity, characteristics/values, and even associations with other products and concepts. How do customers (and even non-buyers) perceive your brand? What sort of brand equity do you have in the market? What sets your brand apart? By determining the characteristics that differentiate you from competitors, you can funnel the insights into future campaigns and branding efforts that most appeal to your target audience.
5. Advertising/Campaign Effectiveness Surveys
Just because you pay for advertising through a particular channel doesn’t mean your audience is seeing the messages or responding in the way you want. That’s why it’s wise to conduct campaign effectiveness research to evaluate whether your marketing and advertising efforts are reaching the right audience and driving them to take action in some way — such as increasing brand/initiative awareness, learning more about the product, or purchasing. In uncovering this information, you’ll also be able to determine if your advertising dollars were used effectively and how to better market in the future.
6. Lead Generation Surveys
Lead generation surveys aren’t as much about collecting traditional research as they are about collecting information on new audiences and potential customers. Lead generation surveys capture prospect information in an organized way, ensure timely follow-up of leads, and provide a more effective way to track leads. But more than a typical lead generation form, surveys can help you uncover pains, hone your strategy, and discover intent to buy, all with a few simple questions. More and more marketers are using lead generation surveys on top of traditional lead forms to generate greater engagement from the outset and create more effective nurture strategies.
7. Customer Attitude Surveys
Customer surveys are directed at better understanding current buyers in their motivations to buy, product intent, attitude, expectation, and loyalty to or trust in the brand. Perhaps the most important market research you’ll conduct- these surveys give you an inside glimpse at what customers think about your product/service and brand. Net Promoter Scores help you gauge customer loyalty, while CSAT surveys measure customer satisfaction. As customer satisfaction scores will help you make better short-term decisions to improve interactions and conversion, understanding your customers’ loyalty will give you more accurate information for forecasting the long-term success of your business.
8. Customer Service Surveys
Customers are highly influenced by the interactions they have with your brand and the service professionals on the front lines. If your representatives aren’t properly trained to answer customer questions, or aren’t helpful and inviting, you may need to make certain changes in your business which have nothing to do with the product being sold. By conducting customer service surveys, you’ll have a better idea of where to make tweaks across your entire customer lifecycle and the processes you’ve put in place at the operational level.
9. Pricing and Forecasting Surveys
Pricing research measures what potential buyers are willing to pay for your product/service and helps you determine demand and elasticity. When faced with the opportunity to increase profit margins or change price, you’ll have the survey data to determine the overall value of the product and better validate your decisions. Looking to the future, forecasting surveys combine customers’ reported future purchasing behaviour with expert opinion on the market to determine future viability and growth.
10. Competitive Analysis Surveys
Competitive positioning not only allows you to understand how the market views your product/service in relation to those of competing brands, but it gives you deeper insight into the strengths and weaknesses of your competitors. A key component to any business strategy, understanding the competition is essential to safeguarding your brand and determining your competitive advantages for future growth.
Whether you’re launching a new product or testing an ad campaign, market research surveys help you get better answers because they’re an affordable and reliable way to gather information from your target markets. QuickTapSurvey gives you the tools to create visually appealing, comprehensive research surveys that customers can take wherever they are — no internet connection needed. With a number of question types, conditional logic, international language support, key analytics, and more, QuickTapSurvey helps you easily set up effective surveys to gather invaluable insights to drive more leads.
Originally published at Survey Blog Online | QuickTapSurvey.