Marketing · Marketing Strategy

What is the best way to do market research and get the most data?

Anonymous

September 17th, 2015

I am starting a online marketplace business and run already a market research survey with my contacts and the results are great but I got feedback from investors that I need much more survey results to validate the market. How do you do a mass survey campaign without being a spammer or run into issues? How did you validate the market for your business?


Forget about “build it and they will come.” Products without scalable distribution channels will fail to gain traction. Instead of hiring an expensive marketing team, take this course to learn SEO, content marketing, retargeting, viral loops, email marketing, and sales funnel optimization.

Peter Johnston Businesses are composed of pixels, bytes & atoms. All 3 change constantly. I make that change +ve.

September 17th, 2015

Customer Feedback is not quite the same thing, Victoria. A mass survey covers people who are not customers, perhaps never will be customers, but who still shape the market. Customer only surveys can skew your results and send you the wrong direction, but that is the route many people choose for exactly the problems outlined here - you have no direct relationship with these people so they are likely to see your approach as spam.

In the past this was done by getting companies like Millward Brown or Neilsen to do research but that is prohibitive for startups.

But a lot of data is out there. Find some surveys which may at least partially match your needs. By the way Business Schools and Universities often have much more extensive libraries of past survey data - build a relationship with someone who has access.

Patrina Mack Experts in global commercialization

September 17th, 2015

Buy nationally representative sample from the online survey houses and run your survey - try aytm.com and surveymonkey.

And yes this topic was covered quite recently so searching for past posts is a good idea.

Félix Arseneau Conseiller stratégique en gestion de l'information au travail. Reconnu comme expert en gestion des courriels. Efficace.

September 17th, 2015

How about sharing a (well-designed) online survey in LinkedIn groups where you can find your target market? I have experienced it with a partner, added to announcements in our various online networks and blogs, and one of our surveys reached 200 participants. You said "more survey results": what is your target? How many participants do you need to convince your investors?

Anonymous

September 17th, 2015

Hey- here are other great discussions relating to your topic that you should check out >> http://members.founderdating.com/discuss/topic/Customer-Feedback. Always try searching your topic first in order to save yourself some time. Hope this helps! 

Phil Benham

September 17th, 2015

We validated our idea by SELLING a watered down version of the final product iteration.  

Instead of the full web app we had planned, we used some code files and video tutorials our users could upload to their own servers.  Everything worked...it just wasn't hosted on our app.  

We focused our promotion efforts on a subset of our target market (one-man-shop online entrepreneurs who want to increase their email click-through rates).  These one-man-shops knew how to upload files to their own domain...and our video tutorials walked them through the process.  We also showed them how to modify and customize the graphic elements they purchased.

We built a one-page sales page and focused very succinctly on the benefits with a quick outline of the features.  Then we ran traffic to it from an internal list.  Finally, we took to Twitter to reach out to some of the influential 'product hunters'...and we got featured on ProductHunt.com!

Within a week, we had over 100 buyers!  Product validated!  

Now, we're spending the time and effort to build out the originally planned web application.

Christina Huan

September 17th, 2015

Great question. I also just ran a research on my target market using aytm.com but I opted to link the survey to Amazon Mechanical Turk. I paid a lot less than I would have if I had used survata or aytm.

Andrew Lockley

September 17th, 2015

YouTube, cint and "the big q" all distribute surveys