An Easy Technique for Market Research

The best way to understand market needs is to learn from your buyer by asking questions and listening to the answers. It’s a hard thing to do because sometimes you don’t like the answers. However if you listen to enough answers, then you’d be surprised by how much you can learn. Here are a few best practice recommendations for this kind of market research:

  • Start with specific questions.
    For example, rather than asking “How big is your baby”, you should ask “How much does your baby weigh?”
  • Ask questions that flow together.
    You’ll get the most natural and candid responses by having questions that transition easily from one to the next.
  • Use multiple choice.
    The answers to multiple choice questions are easier to analyze, and you can always add an option for additional comments, in case you’re missing something important.
  • Maximize the amount of time you have.
    If you only have a few minutes, don’t spend all the respondent’s time getting a lot of contact details.
  • Focus on consistent comments.
    Unfortunately, you can’t be everything to everybody. So look at the bulk of the comments that are similar and do a high level of assessment of how you can address them.
  • Respond to the survey-takers.
    Nothing is more frustrating than providing input and not getting any follow-up. Ideally your response will be an action plan on addressing the items raised in the feedback – either cost-effective or high-impact solutions, but it can be as simple as a thank you.

Lastly, note that one survey is usually not enough. Surveys are most valuable when you’ve done enough of them to start noticing trends. So put together a longer-term plan with a timeline. That’s how you can get consistent and objective feedback from some of the most important people to your organization – your prospects and customers.

This entry was posted in Market Research, Marketing Insight, small business and tagged , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *