Market research through formal surveys and focus group sessions can be extremely expensive, but thanks to the internet, online surveys provide a cost effective alternative to help you collect quantitative results. 
Naturally, you'll need to review your results with the understanding that respondents are coming strictly from your website and online business, and therefore, you'll want to make sure your online audience is the appropriate customer segment to answer your questions. For example, asking your online customers questions about telemarketing would not be a good use of your research budget, but asking what websites they visit frequently to help you with future online ad placements would be very useful. As long as your research objectives, results analysis and acommpanying conclusions take the limited demographics of your online customer respondents into account, your business can gather some valuable information from online surveys.
The most popular online survey tools are currently available through three providers:
- SurveyMonkey: Offers survey packages with pricetags of free to $200 per year. Clients include large and small companies such as Toyota and Campbell's Soup.
- QuestionPro: Offers survey packages with monthly pricetags of free to $249. Clients include large and small companies such as Microsoft and Qwest.
- Zoomerang: Offers survey packages with pricetags from free to $599 per year. Clients include large and small companies like Nike and Merck.
Online surveys and research can offer a multitude of information to help you develop your marketing strategies and reach your business goals. Below are just a few examples:
- Cross sell opportunities: By learning more about your online customers' internet habits and preferences, you can find companies and websites that could be potential partners in developing cross sell programs.
- Trends: Discovering trends in your business, industry and product as well as trends in your online customers' personal tastes, habits and preferences can help you tweak your marketing plan to meet the changing marketplace including advertising, new product development, direct response marketing, and more.
- Demographics: Creating a comprehensive demographic profile of your online customer base will help you select future advertising opportunities, particularly in terms of effective ad placement strategies.
- Areas for improvement: Online surveys are a great way to learn where your business is falling short in terms of online customers' expectations. Customer service, delivery, pricing and more can be evaluated through responses to questions using a satisfaction scale.
Most importantly, define your objectives upfront and make sure they are realistic given the audience who will respond to your online survey. Analyze the results in an unbiased manner keeping your original objectives in mind to ensure you make the most effective conclusions and get the highest return on your research investment.
Have you used an online survey tool on your website? If so, please share your story and tips or suggestions with MarketingBlurb's readers by leaving a comment.
For more information about online surveys, read How to Use Online Surveys from Entrepreneur.
When you listed the top online survey tools you forgot to mention InstantSurvey. Its just as popular as the other programs you mentioned, but I think its more user friendly.
Posted by: Jensen | August 15, 2007 5:30 PM | Permalink to Comment