Market research is designed to allow businesses to understand their customers’ needs and requirements, as well as responses to historic events, products or services. Online surveys measure these needs and requirements better than any other tool available on the market, which is why they are so incredibly important.
Through online questionnaires, you are able to collate both qualitative and quantitative data. These are the two principles behind good market research. Online surveys are one of the only tools available that can measure both at the same time. Qualitative is a focused, in-depth question or concern. Quantitative is a statistical piece of data. Through a questionnaire, it is possible to ask closed questions, where respondents have one of a set amount of options, which is quantitative. At the same time, it can ask open questions, offering customers the opportunity to express a personal opinion. This is qualitative data.
However, there are more benefits as well. Through online surveys, the reach of potential answers to the questions is unsurpassed, without the need for a huge financial investment. Non-online market research may involve taking time out to conduct one to one interviews. At the very least, there will be the cost of printing questionnaires, the cost of postage to your customers and the cost of returns postage. By opting for online surveys none of this is needed, meaning time, resources and efforts can be significantly reduced, yet still yielding the same – if not better – results. After all, consumers are usually more inclined to answer something quickly on their computer, rather than having to find a pen, write things down, fold pieces of paper, place them in an envelope and take them to a mailbox. People are not inherently lazy, but they simply do not have the time in their busy schedules to deal with this.