Online Survey for Better Market Understanding and Increased Profit
There are many applications of software based technologies. Out of those applications online survey has become one of the important applications. It the world of business an untested idea is considered a bad idea. This is because when a company is investing their valuable money and time on a project they expect a handsome profit from that investment. So before launching a product in the market the company first has to figure out what exactly the customers want and is their product good enough to meet the consumer’s expectations. To know these important facts and much more they need to ask potential customers some questions which will help them to determine the odds. They can do it online to enjoy many benefits. This is known as online survey.
Statistics say that companies in America spend billions each year on these kinds of surveys. They encourage the users to state their view about the company’s product and features. They ask online focus groups which flavor does they like and why, or which logo is the most eye catching. They can also learn about areas that need to be improved. They take the quantities and qualitative information and think out an effective strategy to ensure maximum profit.
According to Yahoo Small Business many companies are choosing online market research over offline surveys. These online surveys can be easily conducted using e-mail. The cost of e mail survey for 200 persons varies from $2500 to $5000. To get the same from traditional survey method will cost the companies somewhere between $5000 and $7000. Phone surveys can cost even more. They can cost as high as $15000.
Companies often reward the customers for taking part in the survey. At popular websites consumers get money or points for participating in a survey. The points can be used for getting discounts in various products, gasoline gift cards and free airline miles.
The online survey using Software Technology is a potential win-win situation for both the customers and the customers. The company gets valuable information from the market research they conducted on their targeted customers. The consumers get discounts or freebies for participating in the survey.
The survey data can come in various forms. It can come as objective numbers. For example of it how many times customers buy a product each year. Or number of times the consumer uses the product. It can also be subjective opinions. For example how the product does help the customers or how and when are they used by the customer.
Suppose the company wants to sell chewing gums. So, the number based survey will ask questions like how many gums you buy each day. The subjective one will ask when you use it before lunch or after lunch. After the data is collected online it is then inspected for statistics and patterns. It helps the company to determine the key facts. The process of evaluation is much easier if done online using software.
Customers who take part in the survey are called survey panels. Statistically the bigger and more targeted the survey panel the better the accuracy and efficiency of the survey. So, contacting a reputed online Customer service survey - iResearch.com can that has a large survey panel can be great for your business.