Market Research
Nowadays with the rapid increase in competition, customers are always expecting a perfect service from your end when they are involved in business with you. You need to keep up with the changing needs of customers and the best way to get to know what they are expecting from you is by directly asking them. This is possible by sending out surveys or questionnaires to your existing or potential customers. Surveys are one of the most powerful marketing research tools available. Using Fynzo’s sophisticated and well-designed surveys you can attract your customers to answer your surveys, and discover opinions and attitudes about your company along with your competition from a large number of people.
All the tools you'll need
Regardless of the size of your company, you can focus on its growth by using Fynzo’s affordable surveys for developing new strategies for customer retention and also for attracting new customers. This will help you gain insights about your target audience and you can find out what your customers like about your brand.
Explore and analyze your target market
Your market budget must be undertaking a large number of expenses. Before fixating funds for your marketing plans you need to make sure that the strategies you are thinking of implementing, will bring you success. Using market research surveys you can get important inputs from your target market. It will help you analyze and figure out different aspects of it which in turn will help you improve your quality and services. From understanding the potential market size, to deciding on an optimal price for your products you need to have a sufficient amount of data to ensure that it will be a success. So, using Fynzo's surveys send out surveys to your target audience and get to know the changing needs of the market.
Acquire insights on your present or future products
Before commercializing your products you need to know whether it is in demand and whether customers will be willing to invest in it. For this, you can send online market research survey forms to your potential or existing customers to ask them about their opinion on the idea. After receiving the response you can go ahead with the idea if it meets the market needs. Also, getting feedback on your existing products is important. This will help you make product improvements, innovations, and will lead to efforts that result in the expansion of your sales.
Position your product
Knowing the appropriate market for positioning your product is important for its success. Placing it in an overcrowded market with strong competition is not a wise decision. This can be avoided if you conduct extensive market research by sending out surveys to your target audience who you believe may invest in your product. Using Fynzo survey, determine the correct market and position your product accordingly.
Figure out where you stand in comparison to your competitors
Market research surveys will help you to assess the waters before you plunge in. Find out about the buying habits of your customers, ask them why they think your products are better (or worse) than those of your competitors. This will help you derive insights on what exactly your target audience expects from your company and brands similar to yours. Analyze the competition and improve your products accordingly so that you can stay one step ahead of your potential competitors. This will prepare you to face and overcome the hurdles you may encounter in the future.
Determine which resources you will use in your next campaign
Send out frequent online surveys to your existing and potential customers and find out what type of advertisement are they more likely to be influenced by. Whether they usually respond to online advertisements, ads on your TV, or billboards placed on the road? Find out what email subject line is appropriate enough so that they will be willing to open it and go through it to the product page. These questions when sent out in a survey will help you gain a deep insight into the habits of your customers. When you know well about which platform you need to spend your money on, you will be in an advantageous position in the long run.
Conclusion
The above guidelines are some ways in which sending online market surveys will be beneficial for your company. It is important to learn which product is required in the market at present and about your current needs of your customers before launching a product. In Clay Christensen's book "Milkshake Marketing", it was mentioned that 19 out of every 20 products that are launched, fail. So to gain new business or keep your existing customers interested in your brand, you need to receive the right data which will be backing you up. Hence Fynzo's surveys, which will help to analyze the current situation of the market and customer needs, are the solution to this problem. Choose from the wide range of templates available on Fynzo’s app or personalize your survey according to your needs. Use Fynzo survey software and stay ahead of all your competitors through extensive market research from today!
