A survey is a great tool that helps companies better understand consumers and develop a wide range of analyses. A common misconception is that surveys drive insights. With numerous free survey services available and a growing set of panel providers, it’s easy to think that a simple input will yield a great output. For the output to be accurate and useful, there’s much more that goes into a survey. The setup and process of a survey—from design and sampling to team buy in to data review and analysis—are all critical to achieving successful outcomes. How critical is the setup and process? That all depends on how important it is to get the answers right or not. Because it can appear so easy and isn’t, it’s worth explain what goes into making them valuable.
As part of our consulting work at Stax, we frequently field surveys to support our commercial due diligence and corporate strategy engagements. But surveys are just one of many tools. Over the past 20 years, Stax has conducted thousands of consumer and B2B engagements, gathering exponentially vast sets of data points. Based on this experience, we have identified vital components to develop a survey and deliver in-depth, actionable insights very quickly.
Surveys are an extraordinarily valuable tool for generating deep customer insights quickly. They work as standalone efforts and even better when integrated with macro data, externally generated data and internally generated data. Like all good things, a little process and preparation helps you go faster and deeper to generate insights. By understanding that the entire process is what generates insights and not just the survey itself, you’ll ensure the output is meaningful and impactful.