Without customer feedback it will be impossible to really know what is working in your business and what is not. Sales figures alone will not actually be the best marker as it may simply be that your marketing has been extremely effective over a period of time or for certain goods and services, but that the actual experience that customers have had with goods or with staff has meant that they will not return.
As such, doing some market research will help you see if your customers are indeed happy with the service you provide, what changes can be made and where you are placed when compared to your competitors.
However, there is also a hidden bonus with offering market research rewards. By offering customers survey incentives to take part in consumer research, you not only get honest and genuine feedback from a variety of different people, but the market research rewards they receive will actually also help to boost customer loyalty too. By offering rewards and showing that you genuinely care what your customers think, they are far more likely to return and give you another chance, even if their initial feedback was negative or their experience with your company not a great one.
It is impossible to improve any business unless you find out what exactly your customers want and listen to their opinions about where your strengths and weaknesses lie. After all, the customer is the one who will ultimately decide whether your business will be a long-term success or not and many businesses fail simply because they feel they have all the answers and don’t understand why customers start to turn away from them over time.
Using survey incentives to get genuine feedback can therefore help you focus your strategy towards the people that matter – the customers – without it having to affect your potential to generate profit.
For more information please visit – www.ovationincentives.com/market-research-rewards