3 Great Ways To Carry Out Market Research

Carrying out market research is crucial when launching a new product and to gain feedback on your current products. market research allows you to gather information on business markets and also find out what specific user groups are saying. Once you have gained accurate and reliable market research you can begin to plan your business strategy and set achievable goals.

Online and Offline market research can be used in conjunction with each other to gain an in-depth knowledge of your market and there are a variety of different tools that you can use. Below is the top five tools I would recommend for carrying out successful market research.

Online questionnaires

Online questionnaires from websites such as Survey Monkey allow you to design and build questionnaires to be answered by your customers. In recent years online surveys have soured in popularity as they allow you to gather quick and cost-effective market research. When choosing an online surveys website make sure that they have built-in analytics that will allow you to analyse answers and gather all of the information that you intend to.

When using online surveys I find that they work best with my newsletter subscribers as I can quickly send the survey to a lot of people at once for free and the majority of them will be willing to fill in the survey. Another method to distribute online surveys is to share them via your social networks such as Facebook and Twitter.

Photo Booths 

Placing a Photo Booth in a public or at your launch event will allow you to gain market research from real customers and unlike with questionnaires, you can gain more varied feedback and customer opinions. What I like about Photo booths being able to analyse in-depth and fully explained customer opinions and this market research can far out-way the cost of renting a photo booth.

Focus Groups

Focus groups involve gathering small groups of customers and potential customers to ask them what they think of your products and engage in open discussions to share opinions and gather information from groups of customers at the same time. To make the most of focus groups you should plan your questions before and encourage people with opposing opinions to discuss their opinion to gather as much information as possible. There are many companies that will set-up a focus group for you and also carry out the session if you do not want to do it yourself.