How do I research my market online?

Researching your customers on the web has many advantages and the costs are lower. Find out how to do it.

This article was translated from our Spanish edition using AI technologies. Errors can occur due to this process.

Opinions expressed by Entrepreneur Contributors are their own.


If you want to know more about your customer or want to ensure the success of a new product or service, you can opt for a Online market research . The advantages are manifold: There is no longer any need to employ staff to process questionnaires and information, project times are shortened and costs are significantly lower.

How does it work? By companies that offer this service through websites. And which, for a set fee or an annual fee, allow access to a range of tools to prepare surveys, send them to a database (with emails) and get an analysis of the responses received.

This system is ideal for small and medium-sized companies that usually have low marketing budgets and for traditional market research.

This type of analysis is usually commissioned: a Studies or consultants, Or, you can do it yourself using the following techniques:

  • In detailed expert interviews, you will learn more about the most important aspects of the industry.
  • Focus groups to understand the perception of potential customers in relation to a new product or service.
  • Surveys that reveal potential customers' willingness to buy.

Once you have the results, you can:

  • Generate research hypotheses that can be quantitatively verified.
  • Generate useful information for survey preparation.
  • Evaluate new products.
  • Generate innovative ideas for existing products.
  • Interpret quantitative results obtained previously.
  • Know and understand different emotional reactions to brands.

When you have all of the information from your quantitative research, you can estimate the demand and forecast of financial statements so you can present the information in bar charts, foot charts, or histograms.

It is important that you highlight the objectives of the research or survey because the results should answer each of the questions originally asked in the market survey and provide the basis for more accurate decision-making.

The goals, methodology and results of the market survey can be presented as an attachment to the business plan.

Do it yourself

1. Design. Remember that before you prepare for the survey, you need to define the purpose of the research, what information you need to receive and who will be the target audience. The prefabricated probes offered by the portals are very useful here.

2. Send. Surveys reach consumers via email and their responses are received on the same website and in real time.

3. Analyze. Since the studies are mainly quantitative, the respondents' answers can be graphically displayed on these pages. With this statistical information you can analyze your current customers or your potential market in more detail.

FURTHER OPTIONS FOR MARKET SURVEYS ON THE INTERNET

21 Posts Related to How do I research my market online?