It is essential to get feedback and insights from your market to help you make business decisions. We’ve all seen businesses open and close within a short time, when it was obvious they had misjudged their market. Many times this could have been easily avoided by doing a little market research. But Market research sounds complex.
Yet market surveys can be easy, and don’t have to be complex or expensive. The return on investment is huge and can increase your focus and keep your business in tune with your target market.
Success Depends on Understanding Your Market
No matter how great your new ideas for products and services, they will only succeed when your target market can see and understand what you offer. Market feedback helps you stand out from your competitors and ensures your product and service continues to offer more value and benefit in the eyes of your customers. Feedback helps you pay attention to those things that may not please your customer.
Conduct a Simple Market Survey
A simple survey gives you all the information you need, allowing you to make better choices along the way of starting, developing and expanding your business.
Listen to Your Customers – Make Your Business Grow
Tesco learned through listening to their customers that placing sweets for sale at the checkout while increasing short term sales this caused frustration and dissatisfaction amongst the customers who had to deal with the ‘pestering’ of their children.
Tesco listened and acted to improve the overall shopping experience. This together with many other initiatives like offering a range of different sized shopping trolleys is what has contributed to Tesco’s rise to become the largest grocery retailer in the UK.
How Well do you Understand Your Target Market?
How well do you understand your market place? Are you confident you fully understand your customers needs and wants as well as those who buy products and services that you could supply? You may want to speak with a Market Feedback Specialist and explore how to understand your target market better.
Resources to Help you get Market Feedback for Your Business
Whether you’re planning a new business, a new product or are already established and want feedback from a specific customer group or a niche market sector, you will find resources and support here. You will find template surveys with ideas you can use for your own research, together with support to help you implement your own market surveys.
Get Started – Get Feedback and Insights for Your Business
To get a better understanding what your competitors are doing, and how your market is responding and evolving. Make informed decisions and make the most of opportunities. We can help you set up and run bespoke market surveys for target groups of any size and across any market sector. Its quick, easy and cost effective. Contact us to learn how you quickly and easily can check and understand your competitive position, market visibility and the market choice and preference in your market.