The internet has enabled businesses to now have their own websites, advertise online and even obtain valuable feedback online. This online feedback from clients and customers is crucial to the success of any internet marketing campaign. Online market surveys serve this purpose, providing companies and businesses with valuable insight along with hard data. Data once collected through these online surveys, can then be analysed for market trends and consumer behaviour patterns to make informed decisions on how to design better products and improve their internet marketing efforts as well as their brand management. Here in this article we will take a closer look at why online market surveys form an essential component of your internet marketing campaign.
Internet Marketing: Why Invest In Online Market Surveys
Here are some of the major reasons why businesses should be investing in online market surveys as part of your internet marketing and brand management efforts.
- Faster and Cheaper: Online market surveys can be easily conducted over the internet or through emails and are cheaper and faster as compared to other approaches. According to Yahoo Small Business, the costs associated with an email survey covering 200 people are somewhere between $2,500 and $5,000. For achieving the same number of responses using phone surveys would cost you as high as $15,000 while postal mail surveys will cost anywhere between $5,000 and $7,000.
- Higher Incidence Rate: Another major reason why businesses should consider online surveys as part of their brand management and internet marketing efforts is that emails have a high incidence rate as compared to other survey methods. The incidence rate denotes the percentage of people who respond to the survey. More people usually tend to respond to online and email surveys as they can complete them at their own convenience, unlike phone surveys. Also emails are free from the hassle associated with filling out and sending back snail mail surveys.
- Get Actionable Feedback: Online market surveys can help you get a hold on the customers’ pulse by giving you constant actionable feedback about their preferences and satisfaction levels. A monthly online satisfaction survey sent to your customer mailing list will help you chart progress over short periods and also show the impact your changes make. You could even send in a brief online survey following an event, interaction or sales transaction to get immediate feedback from your customers, while their experience is still fresh.
- Uncover New Ideas: Online surveys can help you cast a wider net for new and innovative ideas. You can get your customer’s feedback regarding ideas of new products, whether customers will be interested in those products. Through these online surveys you could ask for improvements and additions you could make to your present offerings
Online surveys can be a powerful yet subtle internet marketing tool for your products and services. Also, in today’s competitive market, consumers expect a lot from the company they do business with. When you send an online survey to your customers, it goes to show that you care about their feedback. This in turn helps build customer loyalty apart from providing you with valuable input from customers.
Planning to develop online market surveys for your customers? Contact us. The Toolbox is an internet marketing toolbox which integrates high quality, low cost and strategically relevant services required for a successful online business.