Slides for the seminar on market research for startups and small businesses. Outline of DIY and full service market research tools which are either free or affordable for startups and SMEs. Todos and howtos for understanding customers and reducing business risks.
4. 40%
Â
26%
Â
22%
Â
12%
Â
How do they spend those 31bln?
To understand their customers
and reduce their risks
Understanding:
U&A, qual, CRM
Risk reduction: pre-tests, modeling
Ad tracking
Other
5. Understand
âąâŻ What do customers need?
âąâŻ Are they ready to pay?
âąâŻ What colors they like?
âąâŻ What messages are relevant
to them?
âąâŻ What services they expect?
âąâŻ What and why they would tell
their friends?
Reduce risks
âąâŻ Whatâs size of my market?
âąâŻ Who will pay my price?
âąâŻ Which design will sell better?
âąâŻ What they understand
from my ads?
âąâŻ Is free delivery necessary?
âąâŻ Who will recommend me?
6. Well, maybe you wouldnât
mind to understand and
reduce risks too?
7. Why startups
and SMEs are
not in the game?
It used to be expensive!
It used to take months!
14. Distribute link for your survey
Max 100 responses for free
Still those are YOUR responses,
you have to ïŹnd them
SurveyMonkey: ïŹnd responses
15. See summarized
and raw responses
Pre-deïŹned charts
and tables on per
question basis
No export for free
No analysis at all
SurveyMonkey: analyze data
17. What questions to ask?
â⯠It just seems easy to ask questions
â⯠But usually takes a little more time than you expected
â⯠Not only your questions â introduction, proïŹle, branch logic
â⯠Question types are confusing
â⯠SurveyMonkey questionnaire designer is for professionals,
which is great if thatâs who you are
â⯠Results are quite sensitive to questionnaire wording, presentation
and a lot of other little things
â⯠Bottom line: you have to learn new things to design
your own questionnaire
18. How to ïŹnd responses?
ââŻYouâve launched your survey, now what?
Data collection takes
surprisingly a lot of time,
even if you have an
active customer base.
1.5-2 weeks is average!
And what if you donât?
19. How to interpret results?
For any non-trivial
questions answers
and percentages
itself are
meaningless.
You need action
standards and
benchmarks.
Both are usually
a byproduct of
previous research
experience.
21. Write questions
Find respondents
Get results
Analyse results
Select target
Write questions
Get analysed
results
Select target
Get analysed
results
Select target
Get analysed
results
Up to 24 hours
$0.10 - $3.50
per respondent
ÂŁ7 - ÂŁ40
per respondent
ÂŁ1.70
per respondent
25. Google Consumer Surveys
is good for âŠ
Measuring market size
Do you own a dog?
Understanding customers
Which quality do you look for most when
purchasing a dog toy?
Timely questions
Which of the following messages do you like
most for a dog toy company?
27. ZappiStore brings SMBs expertise
of global MR companies
TNS Conversion Model
helps you identify and size growth opportunities
for your brand
MillwardBrown eStatic
helps you select the best creative for your brand
Mmr Impackt
helps you to optimize your packaging design
29. ZappiStore is good forâŠ
All situations when you have to show your
results to any outside parties
ââŻYou buy research product endorsed by
recognized analytics brand
ââŻStill it costs thousands of pounds, though
much cheaper than the same products bought
directly from traditional agencies
30. Proved.co is about testing ideas
Start-up ideas
Product ideas
App ideas
Product features
Promo ideas
Product claims
Price points
ââŻGet feedback from
potential customers
ââŻBenchmark your
ideas against
thousands of others
ââŻ2 hours to get
the resuts
ââŻÂŁ 35 â 170 per idea
35. Proved.co is good for
ââŻValidation of any business-related ideas
ââŻNew business / new product
ââŻNew marketing campaign / new promotion
ââŻNew price strategy / price promotion
ââŻQuick choice between two and more
ââŻDirections, concepts, ideas, messages, etc
ââŻInvestment opportunities, etc.
37. ââŻWhatever you do, itâs investment â of your
money, your time, your passion
ââŻItâs time to understand your customers and
reduce your risks, like big guys do, because
your investments are much more precious and
risks are much more disastrous
ââŻResearch your market, test your ideas.
ââŻYou can do it yourself and learn a couple of
new things in the process.
ââŻOr use a new generation of research tools:
easy-to-use, fast, accurate and cost-eïŹective.