How Market Research Surveys Opens up Opportunities 06 Dec 2013

Reaching New Markets: How Market Research Surveys Opens up Opportunities

The only way to attract a customer is to know what he or she wants. Guessing is not an option, especially if you are looking to break into new markets. Whether you want to promote yourself to a new demographic in your home country or to an entirely new region of the world, you will need to utilize market research surveys to gather data about your targeted consumer.

Market research, which includes social and opinion research, as well as information about the size and needs of the marketplace, provides information for you to make smart business decisions.  Market research surveys include qualitative market research such as focus groups, individual interviews and observations and it can include quantitative market research involving online surveys, face-to-face interviews, telephone interviews, longitudinal studies and systemic behavioral observations.

Unlock the Power of Surveys

Before you reach a new market, you should unlock the power of surveys to understand buying habits, get feedback and measure awareness of your company and competitors. Here are some ways that marketing professionals use surveys in new markets:

  • Create product offerings or pricing options: In this case, marketers would likely ask questions such as: what would you like to see in our product? Or, what do you like most about competing products currently available from other companies?
  • Social media strategies and campaigns: You can post your marketing survey URLS on Facebook or Twitter to survey customers and gauge interest in product categories. If all your responses come from one source, then you also know which area to focus your future marketing efforts on.
  • Market research and analysis: A market research online survey can help you analyze the potential market size for your product, whether it should be sold on or offline, and the price at which you should offer it.
  • Gain insights into customer demographics: To get to know your new market, you can survey on sex, age, location, income, where they shop, what they do for fun, how many children they have, and so forth. You can then target your messaging and campaigns directly to them.
  • Market segmentation: Segmenting by demographics, geography, lifestyle, product usage, and brand affinity allows you to target your market appropriately.
  • Branding, positioning, and naming testing: Survey your audience to test branding and naming concepts. Get to understand their attitudes motivations, and preferences, especially in relation to your competitors.
  • Increase traffic, boost conversions, and grow sales: Survey your consumers with questions like, “Why did you come to our site? Did you find what you needed? If not, please tell us what information you were looking for.”

If you are not an expert at surveys, you can outsource your research needs to Research Optimus. We can help create surveys that give you the information you need to make smarter decisions for your business.

Talk to our “analyst on hire” today to get started!.

– Research Optimus

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