Finding out what your customer thinks about your existing product or how they might react to a new product is one of the most important market research surveys you as a business can do. It can help you fine-tune your product and avoid wasting money on something that wouldn’t sell.
Why Market Research Is Important
No matter what your business goals are, you’re more likely to reach them when you understand your target customers. This is where market research surveys come in. Whether you are designing a new product or want to get some feedback on an existing product, asking your consumers what they value, will help you make key strategic decisions. And with online surveys, doing market research is easier than you might think.
Market Research Survey Tips
When creating your market research survey, make sure to include the right mix of survey questions about your product, the product category in general, your ad campaign, and the customers themselves. This sounds like a lot, but with our template, you get all this information in 10 questions. Adapt the details to make it your own and you’re good to go.
Use the tips below to create your perfect market research survey.
New Products vs. Existing Products
Our market research template allows you to really understand what your customers are looking for. You can ask similar questions whether you are testing a new product or an existing one.
When testing a new product, make sure that your description is detailed enough to give participants a good idea of what it will look and feel like. When testing an existing product, make sure you know whether your participants have used it before and how familiar they are with it.
Ask About Your Competition
If similar products already exist in the marketplace, ask the participants to evaluate your product in comparison to your competitors’ products. This will help you understand how strong your product offer is and where you might need to step it up. If there is no direct competitor, ask about other products your target customers may use to fulfill the same need instead.
You’ll want to understand how potential customers feel about your product overall. But don’t forget to ask about specific product features and how important they are to the customer.
While you or your engineers might think that a certain feature is essential, your customers may tell you they care more about the colors of the product. You never know until you ask.
Test Campaign Ads
If you are far along in the product development process, you may already have some ideas about how you want to advertise them. If you do, include a question or two about a possible campaign you have in mind.
Try out a new tagline or a new logo. See what your customers like about it or how you can improve upon your ideas before you launch. This type of campaign testing can save you a lot of advertising dollars down the road.
Understand Customer Segments
Maybe more than with any other type of survey, it is essential that you understand who your customers are. This will help you segment them and tailor your offering (and advertising) to the right group.
So, include some key questions about your participants’ backgrounds in your market research survey. Depending on your business and product or service, this can be gender, ethnicity, location, how often they are online, or what their favorite magazine is You name it.
All this information will help you cluster your customers and make better decisions about your product and marketing.
Our Market Research Survey Template
With our market research survey template, you can find out what your customers think about your product or how they might react to a new product before you invest in creating it.
You can customize the visuals and product description and have tailor-made market research ready to go in no time. Here are some highlights and tips that will help you customize this template or create your own from scratch with our survey maker.
One Question at a Time
Our market research survey template asks one question at a time. As a result, the survey is less overwhelming and holds your participants’ attention much longer. This allows you to ask a few more questions and get better data. Better data means you can make better decisions based on real customer input.
With market research, visuals are key. When asking about how a product come across to your target customers, it’s best to include pictures of the product, so your customers know exactly what you are talking about.
Adapt our market research survey template to your product by adding a few of your pictures to the appropriate questions.
Sharing Your Survey
Our survey tool gives you many options for getting the survey to your potential customers. You can send a direct link to the survey via email, embed it anywhere on your website, create pop-ups, publish a link on social media, and more. Choose whatever works best for you and your business.