These Are Answers To The 5 Most Common Market Research Questions in Your Head
We all understand the importance of asking survey questions in B2C. It helps businesses understand their customers, who are ordinary people. The solutions that a B2C company offers only satisfy the needs of an individual.
However, when it comes to B2B business, you will be dealing with experienced professionals. They are looking to meet the needs of an organization and not just their own. To understand them better, you must frame your marketing research questions in a much more effective manner.
This blog will list some common market research questions that help you create a better B2B marketing strategy.
What is Market Research?
When you provide a new service to a customer, you need to measure the viability of the service. Without such proper analysis, you cannot simply expect your service to receive excellent feedback. Luckily, there are many ways of understanding your potential customers. One such method of understanding your target audience better is through a process called market research.
You can conduct this kind of research in-house or even outsource it to an agency specializing in market research. The following are how you can go about conducting it:
- Market survey questionnaire
- Product testing
- Focus groups
- Face-to-face interviews
- Phone research
These are only a part of market research. For marketing research to be successful, you should interpret the collected data and use it to your advantage. The later part of this process involves generating reports, and these reports then help decision-makers find the optimal solutions in product development and implementation.
Why Surveys Are The Most Popular Option?
Among all the above-listed methods of conducting market research, marketing survey questions are the most popular. Many marketers find it a cost-effective and straightforward process of understanding the perception of the target audience.
The following are the reasons for market research survey questions to be the popular choice:
1. Surveys are Swift
When you look at other methods of performing marketing research, you will see that they are pretty time-consuming. For example, a face-to-face interview demands your time and your target audience’s time.
On the other hand, an online survey takes only minutes to complete, and you can attend to multiple customers simultaneously and get instant results grouped together automatically.
2. Surveys are Affordable
Not every company has the luxury of setting up a massive meeting with its target audience. But, they do need to perform market research. Their best bet is to go with marketing survey questions. By far, it is one of the most affordable ways of getting to know your target audience. Also, you do not need much labor to process all the data. Using appropriate software solutions, you can automatically collect and process data.
3. Surveys are User-friendly
When you arrange a focus group, many participants will hesitate to take time off from their routine. But, answering a marketing questionnaire doesn’t take much time and is easy to understand, and it is just a list of questions for them to respond to. Also, your target audience will be answering at their own time and pace.
4. Surveys are Quick to Develop
You only need to identify the primary goals of your research, and you are all set to conduct marketing surveys. You can take a look at few questions to ask for market research for your niche online. Now, you can simply use an online survey-creating platform to host your surveys and share the link with your target audience.
5. Surveys are Selective
Imagine you only want a particular group of people to answer your carefully curated marketing research questions. In case of an event, you cannot save the lost time in interviewing the wrong audience. But in the case of marketing survey questions, you can find whether the candidate is right for your market research.
You can do that by adding an evaluation form before redirecting them to the surveys. Not only does it save time, but it also improves the quality of the results obtained from the market research questionnaire for a product.
Common Market Research Questions to Conduct a Market Survey
Marketing plays a vital role in making your product a success. And marketing research survey questions should serve as a tool that fills up the blank spaces in your marketing efforts.
Don’t you think that you should use it wisely? That is why we have put together some common questions that you should incorporate the next time you conduct a market survey.
1. Demographic Questions
Demographic data consists of things such as age, race, gender, and income group. This data is especially crucial to categorize your audience. In both B2B and B2C, you should collect these data for understanding your customers better. However, B2B might consider things like role in an organization as demographic data.
The following are some marketing research questions examples that uncover the candidate’s demographic data: (These are primarily suitable for B2B businesses)
- What is your business sector?
- What kind of customers matches your ideal buyer persona?
- On average, what’s the revenue outcome of your business per year?
- How many employees work in your department?
- What’s your role in your company?
These are good market research questions to ask potential customers if you want to know their demographic data. Using the collected data, you can customize their journey in the sales funnel.
2. Benefits Questions
These questions will help you narrow down what features your target audience is looking for. In other words, you can understand the current market demands. Here are some market research questions to ask your target market when conducting a market research survey:
- What would you like for our product to do for your current process?
- What kind of discounts would you expect a company to offer you?
- What problems are more prevalent in your existing workflow?
- What sort of post-sales support do you expect from your service provider?
These are some sample market research questions that you can relate to your brand and the service you will be providing.
3. Buying Pattern Questions
Buying patterns vary from company to company. But, you can establish a common ground for your target audience if you survey enough people. These questions will make sure that the business attending the survey is a valid lead.
The following are some excellent marketing research questions examples for understanding the buying patterns and power of the company:
- What was the last purchase your company made?
- Did your company invest in similar solutions in the previous few months?
- Who’s your go-to service provider when it comes to digitizing your business?
- How frequently does your company embrace new changes?
- What was the allocated budget for the past purchase?
These are some questions to ask for market research and to understand the buying capability of a company. For instance, if their company has recently invested in a product similar to yours, you can compare your product to theirs, and it’ll help you find where you lack from other competitors.
4. Decision Making Power Questions
Sometimes, you only want your target audience to make purchase decisions for a business regularly. In that case, you can ask these questions to determine whether the person answering the surveys has any kind of purchasing power.
Here are a few good marketing research questions examples for you to consider adding to your marketing research questions:
- Are you responsible for making purchase decisions within your organization?
- What is your allowed budget limit?
- What is the cost of the recent purchase decision you made for your business?
- Usually, how many days does it take for you to make the final decision?
- What kind of details do you expect before making the final decision about the sale?
A marketing research questionnaire of this sort will definitely bring out whether the candidate is right for your survey report consideration.
5. Feedback Questions
Assume that you have already rolled out the first version of your project management software, and it didn’t reach your expectations. Now, you would need to perform a market study to understand what went wrong. In this case, you can select candidates who experienced your product already.
The following are some market research questions examples that you can use to get constructive feedbacks:
- What project management features would be helpful for your business?
- What’s your go-to project management software?
- For what part do you constantly use the project management software?
This is only a market research questionnaire example that you should use as a reference.
To frame excellent marketing research questions, you must fully understand your own product/service aspects. Especially for B2B, asking the right questions can mean uncovering new and unexplored challenges in your industry. By knowing what your customers truly want, your brand could be the next prominent innovator in your niche.
While you use this to help your company conduct a market survey, you can use your expertise as a marketer to answer surveys and earn extra income.
Read this blog to know more: https://blog.theexpertcafe.com/earn-money-by-answering-surveys.
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