Online Survey: New Profit Channel for Your Business
Online Survey: New Profit Channel for Your Business
A carefully constructed survey can be a powerful tool for striking up a personal conversation with your customers to learn exactly how they feel about your company, products, and services -- valuable insights that give you the opportunity to turbo-charge your profits ... all without the typical costs associated with offline surveys, all within a matter of a few days (or even a few hours)!
Of course, writing and distributing surveys has become a bit of a science. Questions need to be carefully worded to avoid biasing the respondent. Formatting issues need to be addressed before you can start writing as this will affect the layout of your questions. And questions of how you will distribute your survey need to be carefully researched to avoid some dangerous (and potentially costly) pitfalls.
Before you launch your survey on a wide scale, do a small test to a handful of participants to make sure all your questions are understandable and not offensive in any way. If the wording or layout of any questions need to be tweaked, it's better to find this out before you send your survey to your entire opt-in list.
Then, once the results are in, don't let this valuable information sit idly, gathering dust on your desk. Use it as a guide for improving the vitality of your business. Now is not the time to be sensitive or offended if some of the answers appear overly critical or unreasonable. Take deep breaths and make objective decisions about whether or not there are areas of your business that could be improved.
At the completion of the survey collection period, it's time to process the data. Online survey tools should provide a robust analytics engine to extract and view the data base
on answers to a specific set of questions, role groups, geography, market sector, size of company, etc.
Once the statistical data is cross-tabulated into report format, the data is ready to be interpreted and analyzed for actionable steps. Statistics alone do not tell the story - they are merely the factual marketing foundation to support the business recommendations.
A survey enables a company to quantify a market trend, need, preference or condition within a target constituency. Surveys with closed-ended question formats, lend themselves well to statistically sizing a business opportunity or stature within a market. Typical applications of surveys include:
* Measuring market receptivity to a new business concept
* Scoping and prioritizing new product features/capabilities
* Identifying/quantifying market needs
* Testing receptivity to new pricing models and price point elasticity
* Benchmarking brand awareness and strength
* Measuring competitive awareness
* Calibrating customer and partner satisfaction
* Testing reaction to market positioning and strategic messaging
* Qualifying sales prospects
Even small changes to your sales copy, your packaging, your web site design, etc... Can make a BIG difference in the sales you close. Use this competitive intelligence to stay on top of how your customers and subscribers are feeling about your offer and your business. And then use this information to prosper and grow!
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