Whether you are a startup owner, an entrepreneur, or a part of a large corporation, you might have thought that market research is for big organizations since it requires a huge budget, expertise, and time, but that’s not true anymore.
Unlike traditional surveys, online surveys leveraging AI power have changed how market surveys are conducted and analyzed. Nowadays, anyone can create and distribute surveys through online tools to better understand their target audience and boost their business. AI-powered tools like Theysaid have entirely transformed the online market survey process by creating surveys in minutes, getting smarter and faster responses in no time, and translating feedback into actionable insights.
This blog is your guide to the best online market survey strategies to boost your business. It also discusses how Theysaid has simplified the survey process by generating questions automatically and providing actionable data for informed decision-making.
What is an Online Market Survey, and Why Does It Matter?
An online Market survey is a questionnaire that is distributed electronically to gather information from the target audience. This type of online market research provides valuable information on the target market, buying habits, customer satisfaction, and product feedback.
The main benefit of an online market survey is that it provides you with first-hand primary data to produce better products and customize your marketing strategies according to customer’s needs. Some of the key benefits of online market surveys are:
- Market surveys help you predict shifts in market trends and consumer behavior for proactive decision-making.
- Compared to traditional methods, online market surveys are cost-effective and reach a wider audience in minimum time.
- Unlike static surveys, Online market surveys with the AI-driven Theysaid tool can make the feedback process very engaging and uncover deeper insights with conversational AI feature.
- Theysaid allows you to create an entire survey with a single click. Using AI, you can set up everything from a quick pulse to a full-scale market survey in no time.
Common types of online market surveys
Following are some common types of online market surveys that can provide valuable insights and drive strategic decision-making for your business.
Competitor analysis survey
A competitor analysis survey helps businesses understand how their competitors are performing in the market compared to them. It evaluates the strengths and weaknesses of a company, how competitors have positioned their products, and how to stay ahead of them.
Brand personality survey
Brand personality surveys aim to gather insights into how customers perceive your brand.
This survey allows brands to refine their identity according to customer’s expectations and emotions.
For example, coca-cola has maintained its happy and optimistic personality for a long time. With brand personality surveys, coca-cola has understood the audience's emotional connection with them. This lets them introduce marketing campaigns like “Open Happiness” and “Taste the Feeling,” all while staying true to their brand identity.
Buyer persona survey
A buyer persona is a representation of your ideal customer based on market research, and it leads you to understand buying behaviors, pain points, and motivations of a specific market segment. A Buyer persona survey typically includes demographics, background, firmographics, marketing messaging, and goals and challenges.
Brand awareness survey
Band awareness surveys are a simple way to determine how well your customers recognize your brand. Businesses run brand awareness surveys to measure the effectiveness of their marketing campaigns and benchmark their brand equity. There are two types of brand awareness.
Unaided brand awareness: In unaided brand awareness, participants recall your brand name without mentioning it. It determines the number of people who can recall your business and products.
Aided brand awareness: In Aided brand awareness, participants recall your brand in a list of logos and brand names. It's a way to gauge how familiar people are with a business when they're given some cues.
Price testing survey
Price testing surveys are used to determine the optimal price for your products and services in the market. Price surveys include questions that determine how much your customers are willing to pay for your products, which features have the highest impact, and how your potential customers value your brand.
10 Best Online Market Survey Strategies To Boost Your Business Growth
Here are 10 best strategies businesses can use in online market surveys to boost growth:
Use AI-Powered Survey Tools
Use AI-powered survey tools like Theysaid instead of traditional online survey platforms that are time-consuming and less effective for getting deeper insights.
Theysaid simplifies the survey creation process by
- Generating questions automatically
- Conducting AI-driven interviews
- Delivering actionable insights via AI-driven conversations
Use Online Survey Panels
Increasing the diversity of participants guarantees accurate statistics. Online survey panels provide access to various demographics, helping your results better represent your target market.
Use Templates for Surveys
Pre-made templates guarantee consistency and save the time and effort required to create a survey. Using a customer care survey template, you can measure loyalty, find pain points, and gauge customer satisfaction. Similarly, different templates can be used to gain insights into numerous aspects of the client experience efficiently.
Get a better understanding of your target market
Knowing your target market helps you make more innovative products, craft effective marketing strategies, and let you focus on resources that yield the highest returns. Businesses can identify and comprehend their target market by leveraging tools like TheySaid, which guarantees a customer-centric strategy that propels success.
Gain insights into your product
Sending an online product feedback survey to your target audience will provide you with data that will drive product change and, eventually, boost sales.
For the product feedback survey, ask questions such as: "What changes would you want in our products?" or "What do you like most about competing products currently available from other brands ?"
Target the Right Audience
Reaching out to the right participants is key to gathering relevant data. TheySaid integrates with survey panels, enabling access to a diverse and specific audience that aligns with your target demographic.
Define Clear Objectives
Defining clear objectives is the first step to a successful market survey. Research objectives generally include the information researchers hope to get from surveys ( brand image, consumer attitudes, product satisfaction, or purchase intent), as well as understanding market trends and evaluating product concepts. This will ensure your survey is focused and the results are accurate.
Analyzed your competitors
Competitor analysis helps you identify your direct and indirect competitors, what products they sell in the market, and how they are compared to you. This will help you find gaps in the market and reduce guesswork and uncertainty while making decisions.
Incorporate AI Analytics
AI-powered tools like TheySaid analyze responses in real-time, offering:
- Trend and pattern identification
- Actionable recommendations based on feedback
- Automated suggestions for follow-up
Offer incentives or discounts
By offering them some incentive or discount, you are giving your respondents a tangible benefit for their effort and time which will lead to a higher response rate and more representative samples.
Suggested read: The Role of AI in Enhancing Survey Experiences
Wrapping up
Gathering Market insights is challenging most of the time. It requires crafting a survey that grabs your audience's attention and keeps them engaged throughout the survey process.
Theysaid can help you create compelling and engaging online market surveys. It starts by scanning your website and automatically generating questions relevant to your target audience. These questions can be embedded anywhere on your website or social media platforms.
Evo, our AI chatbot, handles follow-ups with customers, making the process seamless and efficient. Once responses are collected, TheySaid provides real-time analysis, highlighting trends, results, and actionable insights to help you make informed decisions.
Sign up today for free and start optimizing your market surveys!
FAQs
What is a marketing research survey?
A marketing research survey is a type of survey that acquires data about the target market and consumers. These surveys help you understand customer needs and preferences for making informed decisions.
What are tips for creating an effective market survey?
Following are some of the tips for creating an effective market survey:
- Define your goal
- Specify your target audience
- Use simple and direct language
- Question about one thing at a time
- Design with flair
- Avoid leading and biased questions
- Speak your respondent's language
- Consider adding incentives
- Use AI-powered tools Theysaid for smarter insights
What are the types of online market surveys?
Some of the common types of market research surveys are:
- Brand personality survey
- Market survey
- Digital Customer Behavior Survey
- Customer demographics survey
- Price testing survey
- Competitor analysis survey
What are the benefits of AI-powered survey tools?
AI-powered survey tools like Theysaid simplify the survey creation process by creating a survey with just one click, providing real-time analysis of responses by conversational AI feature for strategic decision-making.
