Tips for Startups: How to Create an Industry Survey?

 

Are you thinking about an industry survey to yield legitimate results? Market surveys are often the best way to find out more about the supply and demand, potentially successful products and services, customer needs, and more. However, the accuracy of results depends on the way you organize the questions and target audience.

 

Overall, there are 4 main factors a startup should consider when developing an industry survey. Their importance is proved by the statistics shared by the Coschedule.

 

  1. Marketing Strategy. Those startups that pay attention to this element are 538% more likely to achieve the expected results.
  2. Marketing Processes. If you wish to be 466% more accurate with the results, it is better to document the marketing processes.
  3. Marketing specialists who set S.M.A.R.T. goals are 429% more probable to succeed with the industry surveys. Besides, setting goals help to determine the further course of actions.
  4. Audience Research. Targeting audience accurately is one of the obvious success factors in industry research, and startups that manage to do so are 242% more likely to present the findings of such study minimum once per quarter.

 

Without a meaningful industry survey, a startup will not know what people are thinking about the offered products and/or services. Thus, it risks producing useless goods for a while. Here are some tips to overcome this scenario.

 

Decide How the Data Will Be Useful

 

What type of information would you like to report? The structure of the survey depends on this question. You should take the steps described below.

 

Think about the question formatting. A good example is using tables, graphs, and charts. Without having the questions that pull in some numbers or ranges, it would be impossible to retrieve those visual elements. Do not use approximate value – make it specific like “1-10” or something like that. Open-ended questions are useful in case a person wants to prove his opinion with the help of respondents’ quotes later.

 

Do not forget about consistency. It is simple with the annual reports, as it is enough to include almost identical questions. It will help to compare the results. Avoid replacing most of the old questions with the new ideas.

 

Mind the respondents’ demographic data. The demographics of the surveyed population play a great role. The difference in cultures has a great impact on the way people market in various parts of the world. It is important to come up with two different approaches to, for instance, the US market and industry worldwide.

 

Targeting the audience is always important. It will not make any sense to ask children about politics or conduct a survey on the favorite basketball production for the females above 50. These people have different interests. Consider gender, age, location, marital status, and other important details when targeting the audience. Come up with several screening questions and add them to the opening. It will help to rule out more or less perfect respondents.

 

Draft a Primary Outline to Get Quick Buy-In

 

Before starting to work on a survey, make sure the stakeholders have an opportunity to share what they really want to find out from your research. Check whether all of the shareholders take part in the question drafting and approval procedure. Make sure you have the necessary tools and equipment to implement each of the questions.

 

An interview with the company leaders and stakeholders is an integral part of the survey drafting process. As mentioned in a book Influence, people will most probably approve things written in their own words.

 

Choosing Survey Methodology

 

While selecting one of the available survey methodologies, weigh their pros and cons. Online surveys might be the cheapest solution, but they do not often provide 100% accurate results. As for the phone surveys, they may cost you a good share of money and last for a long time, but they are usually quite accurate. You may initiate a focus group, but such qualitative methods often give subjective results. Besides, it is impossible to cover a large share of the population this way.

 

Avoid Structural Mistakes

 

Such errors may include:

 

  • Leading questions – Check whether you come up with the questions that do not lead to a particular answer.
  • Assumptive closes – Those are questions that suppose a response at the outset. Ignore questions that start with “What if?”
  • Direct answers – Do not include questions that give direct hints to the replies.
  • Enforcing/Provoking questions – Do not offer questions that may force the respondents to buy. For example, “Will you buy a teddy from our company the next Valentine’s Day to prove your girlfriend or wife you really love her?”

 

One more thing: Minimize the friction in the survey questions!

 

Use Various Helping Tools

 

Many different survey tools are available online. While some of them are paid, others are free of charge, so why won’t you try? Those are FedStats, SurveyMonkey, Loop11, Userlytics, Temper, Wow24-7, Typeform, and more. While some of them help to recognize the most suitable questions for your potential customers, others help to explore the already existing statistics and survey examples or templates.

 

Motivate People to Answer

 

Not many people are ready to get involved in some surveys without a good motivation. Many companies waste a plenty of money to make respondents want to answer. The questions should be enjoyable and simple. People hate writing long answers. It is better always to offer some of the possible answers to let the respondent reply with the help of tick in a checkbox. Cash, swag, or an opportunity to become a winner in some contest is another perfect idea.

 

Think about Realization Ahead

 

It is important to evaluate the possible ways to report the obtained results. It could be a brilliant press release or colorful business presentation supported by a powerful speech. A detailed report submitted to the CEO or stakeholders is, perhaps, the most popular option. Often, a summary is enough to show just the basic findings that give an overall picture. Visual elements such as graphs and charts prevent your colleagues form reading a lot of text so that they will adore it.

 

If you have any other questions concerning industry surveys, customer support solutions, do not hesitate and contact us right now!

 

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