Best Practices for Conducting New Product Market Research Surveys

So you have an idea for a product and think it’s ready for the world to experience. But will people truly enjoy the product? Is it ready to collect a loyal customer base? If it isn’t at its greatest potential, how can it be improved? These are just a few of the questions you should ask when conducting market research for your product.  

When carrying out market research, you can gather customer information in a variety of ways: social media, focus groups, online comments, emails etc. However, one of the most effective methods to capture rich data is by using in-person surveys. In person surveys work best as you are provided the opportunity to grasp a deeper understanding of your target audience as a result of being in direct contact with them.

A great way to gather valuable feedback to make your product better, is through a new product market research survey. The tips below outline how you can use market research surveys to learn about your target audience in order to improve your product.

market research, survey respondents, product market research survey

Keep it Simple

When creating new product market research surveys, keep them short and simple. People are busy and constantly inundated with information. They won’t be willing to complete your survey if it is time-consuming, or if the questions are long.

The goal is to ensure the questions are easy to understand and can be answered in only a few minutes. Research shows that longer surveys accompany higher abandonment rates. So keep the questions short and straightforward to prevent any frustration and confusion that respondents could potentially experience.

Furthermore, when it comes to presentation, use a plain and easy-to-follow survey template, while displaying questions one at a time. Otherwise, a more complex-looking questionnaire will be too overwhelming for respondents, causing them to give you unclear answers that make for weak, inaccurate data.

Create Questions Strategically

Craft your questions strategically to receive the most insight into the respondents’ thoughts about your product. Therefore, avoid asking polar questions, which are questions with only two answers- yes or no. These types of questions provide you with limited information, leaving no room for further interpretation.

Instead, ask multi-choice questions. Keep in mind though, that these types of questions are still close-ended and quite limiting. You can’t quite get into the consumer mindset to understand their preferences by constricting them to a list of provided answers when surveying. As a result, it is pertinent to include all possible answers in the multi-choice question for a successful new product market research survey. Add the answer choice of “Others- please specify” for any unique answers.

To dig deeper, use open-ended questions and give respondents the freedom to truly express their opinions and provide authentic answers. Essentially, these types of questions provide a space for respondents to comment in the form of free-reaction text. Respondents are then able to disclose anything they’ve been holding back. To ensure that potential consumers only explain what they believe is necessary to share about your product, instill a max word limit. Also, you only need to include about one or two open-ended questions, staying consistent with the ground rule of keeping the survey short.

Build an Email List

Gather customer contact information to help convert respondents into future loyal customers. You can keep survey-takers updated on exciting upcoming events as well as send promotions so that survey-takers continue to look out for your brand.

If you used any specific information provided by respondents to develop your product, send an email to thank them for the valuable feedback that was adapted product. Give them the acknowledgement that you listened to and answered their needs,  a reflection of your business values and priorities.

Further, you can use any personal information you have collected to engage respondents’ interest in your products. Email respondents separately based on their specific survey answers. For example, if someone listed “teacher” as their occupation, you can follow-up with them and suggest ways in which your products can be used to help educators.

Learning more about the preferences and needs of potential customers leads to an increase in customer satisfaction accompanied by a great product. New product market research surveys allow you to gather the necessary information that will aid you in this process and inevitably cause your business to grow.

 

 

 

 

 

 

Kiran Saini

Kiran Saini

Hey! I’m Kiran and I am the Marketing Coordinator at QuickTapSurvey. If you liked this article, follow us on Twitter @QuickTapSurvey and stay updated and informed through our daily posts!