In our increasingly data-driven world, computer-backed decision-making is no longer science fiction. Indeed, it’s so common now that it’s barely a competitive advantage for companies; it’s a basic need.
Survey data collection software can crunch more information than you could do in your lifetime. More importantly, this kind of software can spot trends and patterns that would probably go unnoticed by the human eye.
It doesn’t mean you can use a computer program to run your business and enjoy an early retirement, though. Here’s how you can use survey analysis software to your business’s best advantage.
Industry 4.0
When analysts say that we’re living in a new industrial revolution, they aren’t exaggerating. The so-called “Industry 4.0” has ushered in a new era for several segments, with developments in AI technology, smart systems, big data analytics, IoT, and machine learning.
Recent IT developments allow companies to increase their productivity, save resources, automate tasks, and create innovative strategies for the future.
While there are already examples of companies that embraced technological evolution, countless businesses worldwide are still trying to catch up. Revolutions don’t wait; we’re already entering the Industry 5.0 era.
In the new stage, changes are less technology-driven and include societal goals, such as sustainability, the well-being of workers, and fair business practices, with the support of survey software for research and other technologies brought by Industry 4.0.
Tools of the Trade
If you want your business to have a fighting chance, you’ll also need to embrace technological innovation. The good news is that several tasks that were once complex and time-consuming can now be done in the blink of an eye.
For instance, you don’t need to spend hours replying to your customers individually if you have customer relationship management software. It saves you time that you can spend on more important tasks. A project management platform will be crucial when you need to handle several projects at once, with different demands and deadlines.
Indeed, professional survey software is one of the most useful tools you can employ. The best survey platforms search through several online surveys, mapping your market and competitors. The results provide you with invaluable information about current and future trends, allowing you to “listen” to the hottest demands of your target audience.
Top-notch survey solutions allow you to collect vast data, analyze the results, and even help you create your own surveys. Ultimately, market research survey platforms give you everything you need to make well-informed decisions backed by solid data analysis.
There are four main kinds of market research: primary research, secondary research, and quantitative and qualitative research. Each method targets specific sources, like polls, interviews, online sources, newspapers, and infographics. The quantitative and qualitative approaches involve questionnaires and controlled experiments.
Reasons to Believe
There are many applications for computer-backed market research. Here are the top five reasons to invest in the best survey software for your company. This kind of software gives a game-changing competitive advantage that can’t be matched by human expertise.
Knowledge Is Power
Your best chances of success rely on understanding and meeting the needs of your target audience. It means you’ll have to do careful market research anyway. This kind of software allows you to filter your data by geolocation, demographics, habits, and even the most common psychological traits of your target audience.
It’s much easier to develop successful products that will be accepted by a wide audience with this kind of information.
One of the biggest car rental companies worldwide, Avis, resorted to survey solutions to improve their sales figures. Firstly, they developed a customer survey to identify what kind of add-ons they liked most or disliked the least if you prefer.
The research pointed to the best moment to place pop-ups when clients are booking a new flight, resulting in a massive sales increase.
Budget-Friendliness
Market survey tools aren’t only for reading your clients’ minds. They are also helpful for cutting costs with acquisitions. It doesn’t matter how client-focused your products are: your target audience will always vary in tastes and purchase potential.
Any marketing campaign that disregards the nuances of its target market is bound to waste resources. Targeting large audiences is expensive, and your campaign will risk becoming white noise in the crowd.
Better Marketing Campaigns
By analyzing the results delivered by your market research software, you can create a detailed profile of your potential clients. Indeed, you can create multiple profiles based on their behavior, cultural background, interests, and purchasing habits.
For instance, creating a campaign targeting mobile users or users of specific apps or websites is possible. Canon, one of the most important big tech companies worldwide, managed to increase its ROI by 8-12:1 using similar strategies.
Brand Awareness
A well-developed marketing campaign can do wonders for brand awareness. There are several cases in history where big companies reverted declining figures with striking ads.
Maybe you remember the “Share a Coke” campaign in 2011. One of the most popular soft drinks worldwide was facing a decade of sharp decline in sales in the US. The company also promoted the hashtag #shareacoke, helping to create over 18,300,000 media impressions. Here, careful market research also played a key role.
Roadmaps
Your product must be updated as fast as the changes in market demand to stay relevant. That’s why your product should have a roadmap consisting of a plan of scheduled updates over time.
This roadmap is also vital for planning the tasks that will make such updates possible. An efficient survey research software can improve your map by providing insights about future trends.
Join the Revolution
The technological improvements brought by Industry 4.0 are now widely accessible. It’s excellent news for those who know how to use technology to their advantage. However, it’s terrible news for those who are resisting the adaptation. Survey solutions can save time and resources and deliver far more competitive results.
