New businesses are blooming around the country, and with new technology and online platforms, it is much easier for regular individuals with no business qualifications to try their hands at running a business. With a good business plan and sound financial backing, it’s possible to succeed, but statistics show that 50% of startups in South Africa fail within the first two years. A really good way to avoid this is by understanding consumer behaviour through consumer surveys.
Make Strategic, Meaningful Decisions
Consumer surveys will give you answers to key questions about shoppers such as their demographics, their spending ability and preference, and which brands they like and why. This information is vital to your planning and the overall development of your brand, which experts say is crucial for your long-term success. Building a brand that consumers can identify with will give you the customer loyalty you need in a competitive market.
Entrepreneurs have limited resources and cannot spend heaps of money on market research. Making decisions that are not based on research is simply not an option, as the effects can be disastrous and can lead to your business’s imminent failure. Consumer surveys provide a cost-effective solution to this as they can be done effortlessly through online platforms on a mobile phone, tablet or computer. The results you get are still reliable and will give you data that is relevant and quantified.
Save On Valuable Time
New business owners often multitask to save on the cost of a big workforce. For example, the owner will often do his or her own marketing and social media, so doing market research is definitely not something that will fit into a jam-packed schedule. The benefit of consumer surveys is that they are quick, and give you on-point answers when you need to make important business decisions in a short space of time.
Arm your business with trustworthy data that can help you make better-informed decisions to meet customer demands with consumer surveys done by Research Online. We specialise in fast, cost-effective online surveys that allow new businesses to thrive by understanding what consumers are thinking and what they want out of brands. Our clients love our hassle-free, seamless approach to market research, and so will you. Contact us here to get started.