Surveys are a vital source of data in any industry because they provide valuable and insightful information.
According to Edward F. McQuarrie, professor and author of The Market Research Toolbox, “a survey takes place when a fixed set of questions is asked of a large sample of customer” and “…the sample is carefully selected to represent the total population of interest.”
Surveys help businesses, marketers, and researchers identify what customers want through the use of technology, analytics, as well as feedback from the desired or targeted population.
Surveys provide businesses with information that gives them several advantages, such as business growth. Companies can use surveys to get the information they need to reach a specific target audience and understand different aspects of the market to improve and make quality decisions.
In the retail industry, surveys help retailers gain insights about an existing or future product, product development, and customer satisfaction. They also give retailers insight into how the customer views and interacts with the brand and where the business stands from the customer’s perspective. Surveys help retailers determine their level of competitiveness compared to their competition with their target customers or audience.
Retailers rely heavily on customer satisfaction surveys to determine how they are performing with customers, and if they are meeting, they need in the products and services they offer. Retailers provide customer satisfaction surveys to customers for their completion, most commonly online and via email after customers purchase products or services to gather this crucial and valuable piece of information.
However, one of the main reasons surveys are unsuccessful is due to not being completed. Customers do not complete surveys if they believe the survey is too long or has too many questions. In fact, according to Marketing Charts 2018 article, “Medallia Reasons Abandoning Customer Feedback Survey,” 57% of consumers who abandoned a customer feedback survey done so because of a “long survey.”
The successful completion of the survey is the most crucial factor in utilizing surveys to conduct market research. Surveys must be concise to retain the customer’s attention to complete it entirely. According to the 2020 Qualtrics article, “How to increase online survey response rates,” in addition to the length of the survey, the factors that make surveys more successful and impact the quality of the data include:
Customer satisfaction surveys are a great and effective way for retailers to quickly obtain information and feedback from their customers about their product, service, and experience interacting with the brand. Surveys must include instructions and questions that are clear and easy to understand and should be in the right type for the targeted audience. It is equally important that the topics are appropriate in terms of its sensitivity and not too personal, and the flow of the survey should be simple, organized, and easy to follow.
Surveys that appear more meaningful to the customer will increase their motivation and willingness to complete the survey to its entirety. In turn, retailers will gain quality data that will lead to their achieving optimal results.
Did you enjoy this post? Read about critical factors for conducting qualitative vs. quantitative data in my last post!