A marketing research survey is a questionnaire used to gather data about a target market and their perceptions of a product, service, brand, or competitor. The data can be used to inform your marketing strategy. And if you want to profit from your advertising campaign or new product launch, conducting market research surveys is essential. And regardless of your company’s size, you can expand and thrive with the help of low-cost surveys to inform marketing decisions that bring in new clients and retain existing ones. Here are the benefits of market intelligence surveys.
1. Better Understand Your Audience
Because they are essential to your company’s survival, your audience deserves your undivided attention. And by conducting an online survey in Singapore, you can find out what your target demographic likes and dislikes. Knowing what you’re doing well and where you can improve is a must. It’s possible, for instance, that you’ll find some unfilled niches in the market and fill them with new products and services.
2. No Conformity
Individuals’ responses to market research surveys in Singapore are more difficult to influence than those of a focus group because of the presence of a dominant personality. Because the survey gets completed anonymously, respondents feel less pressure to carefully select their words than they would in a face-to-face conversation, resulting in more open and honest answers.
3. Gauge Brand Awareness
Building a recognisable brand is essential for any company. You need people to remember and associate with your brand. Further, find out how people feel about your brand through conducting market research in Singapore. It’s perfect for gauging consumer reactions to your brand, image, products, and marketing strategies.
4. High Accuracy
Most questionnaires used for market research in Singapore are highly structured, with only a few possible responses. Unlike qualitative research methods, quantitative studies can conveniently and accurately analyse the collected data using specific formulas and patterns, despite having fewer response options.
5. Audience Segmentation
The members of your audience have varying requirements and preferences. You will not have a successful marketing campaign if you try to appeal to everyone with the same message. Market researchers can use online survey data in Singapore to understand their target audience better and develop targeted strategies. In addition, audience segmentation organises people into subgroups based on their shared characteristics. Some examples of these shared characteristics are demographics, geography, hobbies and interests. It facilitates the formation of tighter-knit subcommunities that share common goals and interests.
For more questions about market intelligence surveys, visit Milieu Insight to address your inquiries.