There are countless marketing questions that need to be answered in order to help improve business results. Here are a few frequent problems and how they can be solved for your business’s benefit:
You are doing worse than a competitor in your market. The key question here is, “Why?” To solve this you can ask people why they buy at your competitor’s store. You can ask them to suggest improvements. You can ask your customers how you can improve your products or services. The best way to do this is to employ a survey, either online or offline. You can couple a survey with physical research to check out for yourself why competitors are getting more business than you. Issues can range from better customer service, to better products, or simply better locations. You have to do your research to determine the issues.
You aren’t providing what your customers need. Your customers may not know what they want or need until they see it. The iPod is a great example of this. The market didn’t know that consumers would go crazy over it. As far as they were concerned the CD player was what they wanted – until Apple gave them something better. There also may not be a current product or service available to fit their needs. People are just waiting for a hover car!
The point is that your market may need something better than what is currently available. Say your business is sales consulting, and you provide clients with an overview of how to sell a product. But, what they really need to sell products and services is just someone who can send more leads to them. To figure out your markets need, consider a survey or a focus group. Ask your customer and potential customers what they would like to see in your product or service. Don’t be afraid to find out something that is currently beyond the scope of your product or service.
You may be wondering how best to reach a market for the first time. If you are launching a new product or service, or even a whole set of products and services, you know there is a need. But, you might not know how to reach all the people who have that need. The question here is, “How should I sell to my market?” A survey is best used here, as well. You want to launch your product or service in a way that will get attention. Figuring out exactly how a consumer will use your product or service is essential, as well.
You think you are undervaluing your product or service. You can get the answer to this question by simply asking your market if they would pay a certain price for a certain product or service. You may even want to see if they would pay more for a specific product or service, or if they would pay more for a bundle of products and services. You could ask them through a survey or by direct interaction.
You may wonder what exactly goes through your customers mind during the buying process. Maybe you are losing leads halfway through the buying process. Maybe your customers don’t want to fill out a form. Maybe they would rather do business online than with a robot on the phone. You can figure this out by having your customers take quality surveys at the end of a purchase process. You can ask them if they liked or disliked certain aspects of the buying process. Make sure you map out the buying process as best you can so you can get insight on each step from your customers.
There are so many potential questions that a business would want to know about their marketing efforts, and there is a common theme to getting the answers – ask your customers. Surveys are a great way to do this and a great source of primary research. However you get the answers, they can help you make an informed business decision.
Author Bio: Gabriel Nelson works with the National Business Research Institute. NBRI is a business research company that specializes in many different surveys like customers satisfaction surveys to help businesses improve revenue. Gabriel has written and produced many different content pieces on the internet. Gabe likes to read, write, travel and play video games on his days off. If you have any questions don’t hesitate to ask.