This blog entails how to create a market research survey on Outgrow.
This survey can be useful to understand your certain target audience and if your product/service idea could be successful with them. Moreover, you can check if they are currently satisfied with it provided your product is already in the market. Also, more detailed surveys can be helpful in optimizing your product and pricing it.
What is a Market Research Survey?
A market research survey asks users questions that help the surveyor understand certain attributes such as - consumer perceptions, attitudes, habits, etc.
Why Should You Create Market Research Surveys?
1. To Get An Understanding Of The Customers
A market research can give you an understanding of the ‘whats’, ‘whys’, and ‘hows’ of customers.
So, ask - What are their habits, interests, lifestyles, expectations?
Why is it like this? Because of their age, location, religion?
And how would you leverage that? Will your product/service suffice?
This ensures a more targeted and specific approach and reduces experimentation costs.
2. More Opportunities and Lesser Risks
After getting an understanding of your customers, you’ll be able to identify opportunities that weren’t visible earlier.
You’ll probably get an idea of what extra features your product could have that’d solve your customers’ problems better. Also, you could identify a whole new marketing niche entirely.
3. Making Your Marketing Relevant
The first rule of marketing is to understand the target audience and mold marketing efforts accordingly. Once you have a good understanding of customers and have created a kickass product/service for it, it’s time for marketing and optimization. And the best way to optimize your marketing is to make it relevant. That’s where market research comes in.
Not a bad idea to go for market research after all, right?
4. Competing Effectively
Market research also involves studying your competitors and how have they been approaching this market. An understanding of this helps you stay ahead of the competition. Say, you could identify an unattended customer requirement or an under-satisfied one and introduce a feature to your product accordingly.
You could also survey people about what they like about the competitors, how they'd rate us on different aspects like support, ease of use, etc. compared to other players.
This info can be used to improve your product/service.
5. Product Testing
Testing a product before its launch makes a lot of difference in 99% of the cases. The other 1% is Luck.
You can never be 100% sure of what’ll resonate with your customers - do they really need/want your product? Is it optimally priced? How long would the product stay in demand?
That’s where market research plays an important role and in our experience, market research has given surprising results every time..Seems important, doesn’t it? Good news is that these surveys can be made with Outgrow’s user-friendly templates within minutes.Let’s try creating a business service concept testing survey.
How To Create a Market Research Survey On Outgrow
1. Log in to your builder and select ‘outcome quiz’ as the content type.
2. You can build your own survey from scratch or simply choose one of the several survey templates available under the ‘Select a Template’ tab. Such templates include market research service, market research product, market planning survey, to name a few.3. You’ll be taken to the builder next. Select an appropriate heading, button text, and picture. Moreover, you can choose to use your own logo or not have one at all.
Inside the builder, you get this view:You can edit the question titles, their options and see the real-time preview of your survey. There’s a navigation panel on the left.
This is a ‘text input’ type question. You can change the question type to single select options, multi-select options, text input, date/time picker, etc.When you choose a single or multi-select options type, you can also choose how it will be displayed; namely: text type, image type, icon type.
5. Sections and Questions:
You can add sections to this survey and add relevant questions accordingly.Note: Try to keep your questions as accurately as possible. Short but useful surveys gain more traction.
6. Lead Generation:
Add a lead generation form and place it in one of the following places - welcome screen, before results, or with the results.Pro Tip: Placing the Lead Generation Form before the results generally result in the highest conversions.
Finally, you can display a thank you message as your outcome and include information about the next steps to be followed if any.
It’s recommended to add social sharing and social media feeds’ subscription buttons.
Next, go to the configure tab and set things for your survey as you want to. Next, you can change your survey’s URL or set up a Google and Facebook pixel for tracking it. Furthermore, you can choose to send an automated email to users and/or to self whenever someone takes the survey. You can also configure your embeds, HTML, and 3rd party integrations in this section.Find detailed explanations here.
Best Practices For Creating a Market Research Survey
1. Use Our Madrid Layout:
With the Madrid layout, you can add sections which can be helpful for a survey such as this.
2. Options Type:
It's advised to keep the type of your questions as multiple choice questions and avoid having text input questions.
Users are the most likely to drop out during a survey when they have to type in their responses.
If you need a text input question anyway, include it towards the end.
3. Optional Questions:
Keeping your questions skippable increases the chances of a user actually completing the survey. So, even if you don’t get answers to some desirable questions, you’ll at least have some information.
4. Add Your Company’s Email:
This is another way of boosting conversions. Just add an ‘email’ button or “write to us” button on the outcome page. You can also pre-draft a message with a subject line that differentiates such emails from others.
5. Ask For a Recommendation:
On the lead gen form, you can ask users to recommend the survey to someone who may benefit from it. This increases the chances of your interactive experience gaining more traction through word-of-mouth.
6. Add Social Share Widgets:
It’s highly recommended to add social media share icons and subscription widgets on your results page. Interactive experiences with social share widgets have naturally seen higher shareability and hence higher rates of conversions.Also, check out these market research questionnaires design best practices.To conclude, market research is vital for any business. However, it can be just as easy and fun to make. So, get started right away and if you ever have any questions, contact our team through the chat icon on the bottom left corner of our website.Sign up for a free Outgrow Trial here.