Do you know why Aleksandr Kogan’s thisismydigitallife app was a great success?
It’s an online survey that made Donald Trump a public figure.
He is the president of the world’s strongest economy, i.e. the US, today.
Hats off to his mastermind! Nobody has ever imagined that a few cute questions can end up at the personality profiling. Isn’t it an incredible idea to ask-which Pokeman you are and what your most used words are?
It’s actually terrific. People are quizzed through interesting survey questions. Subsequently, their deep analysis proves a game-changing strategy. Like other trends, an online survey through a mobile app is all set to take the market by storm.
Why don’t you implement the same idea to conduct market survey for a startup company? It can change the typical pitching completely. You don’t need to line up product-based queries in a straight forward manner. Just let your brain play innovatively.
But, you should always draw an outline in your mind. It is what your motto comprises of. Don’t you have an explicit picture of your aim behind online survey? Catch on these three points that can help you a lot:
Why does a startup conduct an online market survey?
- What’s the size of the target audience?
- Is his idea worth to sell?
- Is my target audience willing to pay for my product/service?
How does a market survey help you know your target audience?
So! Yours is a startup company. Make sure that you have an idea of what your target market is. Let’s say, you want to gear up for launching a mobile phone app. You won’t take more than a sec to realize that the android and iOS app stores, software and application stores would be your target market.
But, it can’t be possible unless you have a list of target companies who you can sell to. It’s true that you know your product. You know whom you’re going to sell to. But, who wants your app- it’s a big puzzle. The probability will not work here. You need a full-fledge proof. In the nutshell, you require the data.
Be ready with your completed homework, first. Thoroughly observe who your target audience is. It helps you to identify why your target market will trust upon you.
After all, you’re a newbie in the market. If it comes to you after being an experienced player, you will do the same thing. All in all, your search terminates at the data. That is what an excellent market survey does.
So! What should you ask? Do you have any plan to make it happened?
Make sure that your survey should cover these verticals at least.
1. Demographic vertical
A demographic detail reveals the gender, age, household income and region etc. If you plainly ask, people will ignore your market survey because you are a new one in the market. So, play with strategies. Take out some creative and extremely innovative idea to ask upon.
This vertical should essentially be covered. The respondents would be your target audience. Thereby, you would have an estimate about who would like to have your product/service.
2. Behavioral vertical
As aforementioned, you can blend a hot topic with your product/service, just as Kogan did. Let’s say, I want to sell a social handle. I can draft a few questions smartly. For example- What is your dream feature to be integrated into your social handle? Do you like to shop for your besties via your social handle?
The interested respondents will not only reply, but they will also come up with their own ideas. These smart ways would unfold the behavioral model.
At the end, you need to sift through the collected data. Scrape the data that you don’t need. Finally, you would have the names that you can target and they will love to buy from you.
It’s an irresistible aspect of your market survey. It circles around the demand identification of your product/service. First, extract an idea of the current market players.
For instance, you can ask a few names of your niche, like which is your favourite social app. You don’t wonder seeing a huge list in response. They’re your competitors. Spin a few more questions that answer how long they have been their favourite.
Your target audience stays neutral, if you’ve just entered the market. They won’t open up about your product because they haven’t used it. But yes, they have a lot to say about their trustworthy brands. You can integrate a goldmine of ideas with your product/service.
Cater a first impression of your launch in the next question. If you don’t want to goof up, embed what pinches them the most. Tell them how your launch can heal them. These points would strike at their core. Keep it short, sweet and to-the-point that can be understood in 20 sec to 45 sec. Go for the A/B testing via CPC ads. The underneath thought is to gain awareness. Recognition will come automatically as you outperform.
This part is the crucial one. You’re going to ask at what price they would like to buy your products. However, your survey audience could not accurately answer because you’re a new player. It’s ok. You can throw 2 or 3 questions with a randomized value.
Begin this way…
How much you’re likely pay for a new brand? Align a few choices, like 25% lesser than $50 or 10% lesser that $75 per piece. You can employ a guess work in estimating costs. The point is to verify whether customers are willing to pay to.
Afterwards, you can run your survey on Facebook, Twitter or any other platform. If you want to save efforts, invest in SurveyMonkey or SurveyGizmo. Both survey platforms will be economically benefiting. Alongside, throw a cursory glance over the performance analysis of your survey. It’ll enrich you with many thoughtful ideas that can put your brand on the progression.