Grow the Value of your Business with Industry Surveys

Industry based surveys can be hugely beneficial to both your business and the community you service. It’s really a win/win arrangement and here are the top 3 reasons why…

1. Understand your Clients and Potential Clients Needs

The first and most obvious reason why you would want to survey your industry is so that you can gauge your clients and potential client’s needs. A well-crafted survey will help you understand the changes in your industry and the wants and needs of those to whom you wish to do business with. Surveys can help you gauge what would be of value to your industry and allow you to craft your products, services, packaging, marketing etc. accordingly.

2. PR and Media Opportunities

Survey results can be the basis of stories that may interest media publications. If your survey identifies interesting changes in industry trends or uncovers unexpected stats in the market, you may end up being a source for statistics and quoted in relevant articles in the media. Likewise you may release your own findings with each survey to the press, creating stories for your business.

3. Create Value for your Industry

A regular survey can create value not only for you, but for everyone who services that industry. This is an opportunity to be of service to whole communities that are connected to you in some way. Some companies rely very heavily on the findings of market research and a regular survey with comparable stats can give be a wealth of information that could be of value to your industry.

It’s important that your survey is consistency and attracts the right type of participants. If you’re running an annual survey keep your question set comparable from year to year to measure differences in responses and to spot trends.

If you do decide to run a survey, here are two quick tips
Tip#1 – Test your survey before launching it

Ask some members of your target audience to review the survey and give you feedback to make sure the questions are clear and straightforward.  Ask them to time how long it takes to complete so that you can let your respondents know. Aim for it to be quick and easy to complete.

Tip #2 – Offer an incentive to increase the response rate

If you have a prize or something that would be compelling for your target clients, offer it to increase number of participants.

We ran a survey in August 2010 on “Small Business Websites: The Good, The Bad and The Ugly” in conjunction with Websurvey. The survey revealed a lack of confidence in using online marketing methods.

Your comments and responses are welcome!