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4 Ways You Can Use Surveys To Boost Your ROI

It's kind of amazing just how useful surveys can be for businesses.

What's even more amazing is how many companies aren't taking advantage of them.

With so much data out there now about how useful customer knowledge is when it comes to converting customers and getting more sales, one would think that surveys would be a basic tenant of all marketing strategies.

After all, what better way to know what your customers want than to ask them?

Surveys are useful in a myriad of ways and can be adapted to the specific needs of your company and the specific data that you need to acquire.

More than anything, surveys help you to make more money, because they don't take a ton of investment and have a huge payoff if you give them a chance to work and do your part to correctly analyze your findings.

In this blog post, we talk about 4 major ways that you can use surveys to boost your ROI and help that bottom line.

#1 Figure out who your audience is and what they want

One of the most common ways that people are using surveys is to help them understand who their customers are.

Knowing your customer is a proven way to increase your ROI, as it not only helps you to create targeted marketing campaigns that help you directly speak to your consumer.

Discover, here, 5 ways to perfectly know your visitors. 

Messy marketing that does not have a targeted audience in mind is a waste of everyone's time and money, and can lead to a confusing brand identity and a ton of other marketing fiascos.

Knowing your customer is essential to making the most of your brand, and enriching your CRM data with the right stuff.

If you haven't done research in this department, a survey is a great place to start.

#2 Figure out who your audience is NOT

One of the less expected benefits of using a survey is that it helps you understand who your product currently isn't selling to, and this can inspire new opportunities for expanding your market.

Lego is a great example of a company who used surveys to achieve this aim.

A few years ago, Lego conducted a customer survey in order to figure out who their demographic was.

The results of the survey showed that only 9% of their market was girls.

This led Lego to decide to launch a marketing campaign geared at getting girls interested and included in the Lego brand.

Instead of seeing the survey as data about their product as writing on the wall that they should only market to the boys that buy their product, they saw it as an opportunity to expand their market reach, and it paid off big time.

Now there are lego sets that are more catered to girls, in bright colors and different set-ups, and Lego has in general become more girl friendly and inclusive.

Successfully including an entire gender and half of the kid population- that's a 100% increase in market reach! 

 

A lego kit targeted for female consumers. Source.

 

#3 Reduce churn

Nobody likes losing customers, and if this isn't one of your major concerns, then read these statistics on why losing current customers is one of the absolute worse things for your ROI.

Surveys are essentially a customer loyalty machine.

When you are reaching out to your customers and asking them what they think about your product, how they'd like to see it improved, and what they would like in general in order to stay loyal customers forever, you are doing your customers, and your company, a huge favor.

Ultimately, you and your customers want the same thing: You both want a quality product that your customer can't live without, and make your brand a trusted source of comfort in their lives.

Surveys help you to stop all the guessing and accomplish this more directly while making your customers feel cared about and important in the process.

Successful companies use customer surveys as a way to stay updated on the wants, needs, and observations of customers who already use their product, and who may have suggestions on how to make it better. 

Frito-Lay is an example of a company that used a social media survey to determine which new flavor of chips they wanted to market.

Allowing their followers to select which flavor they'd want to eat, they created new interesting flavors that they already knew they had a consumer base for.

And at the same time, they engaged their customers and helped them feel included, which brings us to number 4. 

 

Use Surveys To Boost Your ROI

 

#4 Increase engagement

Lastly, one of the secret powers of surveys is their ability to increase your customers online engagement.

In the world of digital marketing, companies are spending millions on simply getting their customers to notice, share, and care about their content.

Getting your customers to care enough to engage is a struggle for any company, but surveys are an easy way to deal with this.

As mentioned in this blog post from Kissmetrics, online surveys that you stick on a "thanks for signing up" page do two things:

  • They get your customers to continue clicking on and engaging on your website, which is great for SEO analytics,
  • They start to create a feeling of attachment and loyalty in your customer that will make them start following you on a more regular basis.

Imagine you were one of the Frito-Lay customers who clicked to vote on which flavor chip you wanted on social media, and a few months later, you see the flavor you voted for at the grocery store.

This will make you feel excited, important and respected, and make you want to continue your online engagement and interest in this company.

You may even become a brand advocate and share the new flavor online with your friends and family.

Engagement, interaction, and communication is something all consumers crave with the companies they love - give your consumers a survey and allow them to feel like they are more than just a number on a sales sheet.

Don't lose your current customers by not giving them a platform to voice their opinions or concerns. They will walk away, and take your revenue with them. 

 

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