Web-based market research is important for businesses that are actively engaged in online commerce. Web-based research is also important in engaging with existing customer relationship online. The process in itself is a significant part of a positive and enjoyable interaction with customers and employees.
Most businesses today are engaging in web-based market research through vendors. Outsourcing your market research is not only less stressful for the business environment but also offers a lot of cost savings.
Web-based research is the best method to reach out to customers that are online most of the time. It gathers data in a multimodal approach which uncovers customer stories in different angles. People tend to be more candid online because they feel safety in providing their stories to businesses. It does not create confusion and does not intrude in personal moments compared to phone surveys and research.Â
However, market research on the web is far from perfect. There are vendors that commit mistakes in obtaining data.Â Here are some common pitfalls that vendors and businesses alike commit when doing market research:
Making unwise assumptions. Most businesses think that they know best than their customers. They often would assume that a particular price point is acceptable to the market and it becomes a disaster when they are proven wrong. Making assumptions is a common mistake that some marketers do. Vendors that have been in the business for so long will be able to correct this notion quickly. That is why it is best to pick a vendor that has the experience and expertise to tell the client that assumptions can be the poison that will kill the joy of the experience.
Doing research when there is no need. Most businesses fall in love with research because they have obtained great results from it before. Yet there are times that there is no need to conduct a research and doing so will just be a waste of money. There are occasions that you already have the necessary data that can give you valuable intelligence. Data such as sales, demographics and purchase history are already available to you. A great vendor will be able to give you advice if there is a real need to do web-based market research for your business.
Asking the wrong questions. To get reliable data it pays to ask the correct questions. After all garbage in is garbage out. If you want to have meaningful research it will all start with the question that you will be asking your respondents. Never ask things that your business has no intention to change. This may lead people to get their hopes up and lead to false expectations.
As you know well, market research is a great tool to get in line with your customers. It will give you better grasp on the market that will make you do wise business decisions. However, some businesses do it wrong and it may end up hurting your enterprise more. It is wise to have a great market research partner that has the competence to guide your efforts in market research.