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What is feedback and insight?

Feedback and insight is a marketing term that describes the process of obtaining opinions about a business, product or service.

Why is feedback and insight good for me?

Feedback and insight is good because it helps you to improve your business, your products/services and your overall customer experience.

What are the key benefits of feedback and insight?

Some of the key benefits of feedback and insight are as follows:

Improve a product or service

Listening to customers can guarantee you create a product or service that they actually want.

Customer feedback is used to ensure that the product on offer is something that solves a customer’s problem or fulfils a need.

In today’s competitive world, companies who can combine product development and feedback and insight will enjoy strong competitive advantages, customer loyalty and ultimately success.

Measure customer satisfaction

Measuring customer satisfaction can determine whether your product or service meets expectations.

Customer feedback surveys help you measure customer satisfaction.

Provide data that can be used to make better decisions

Decisions taken based on facts rather than on guesses deliver the best results.

Listen to what your customers tell you.

If a high percentage of your customers tell you they want something then listen to them.

How much time and money should I spend on feedback and insight?

This depends on how much you value the benefits of feedback and insight.

If you are willing to undertake a feedback initiative yourself then it will take up time and energy.

You have to ensure the questions and answers will provide the clearest data.

This is a low cost option in a world where free survey tools are readily available.

If you don’t have the time but are able to allocate a budget to employ a specialist or company to carry out the research then you could be looking at a wide and varied spend.

You could be looking to spend anywhere in the region of £500 to £5,000+.

Who can I survey?

The answer is anyone.

However, you might want to think about targeting specific demographics to focus in on specifics that are relevant to you.

How many questions can I ask?

There is no limit but you should not aim to have your survey take longer than 15 minutes.

How many people can I survey?

That is entirely up to you. You can look to set limits or you can look for as many viewpoints as possible.

Time and budget will play a role in deciding this, as the more you survey the more time and money it will take to analyse.

However, that can be offset by the increased accuracy and value of the data.

How long does the research take?

It depends on how long you run your research for and how much data there is to analyse.

What research methods would be useful to me?

The most common methods used are written, telephone and online surveys.

You could also utilise group sessions such as focus groups and face to face interviews.

A mixture of methods can help illuminate the data and add value to the research being conducted.

Can I do the research myself?

If you are willing to undertake a feedback initiative yourself then it will take time and money but the answer is yes.

If you don’t have the time but are able to allocate a budget to employ a specialist or company to carry out the research then you could be looking at a wide and varied spend.

You could be looking to spend anywhere in the region of £500 to £5,000+.

How does feedback and insight inform business decisions?

Feedback and insight helps you to make the right decisions at the right time.

Whether you are looking to launch a new product, re-brand your business or launch a new advertising campaign, feedback and insight will allow you to understand the thoughts of your target market before you hit the launch button.

Ultimately feedback and insight gives you the information you need to reduce risk and maximise return on investment.

How much can I trust the research to help me make business decisions?

In general research is a great way to get inside the mind of your target audience, helping you to make the right decisions at the right time.

However how reliable and trustworthy your information is will depend on how you gathered it and how many people you asked.

Your findings are going to be far more reliable if you sent it to a targeted audience of at least 50 people rather than asking a group of random people in the street.

How do I know when to stop researching feedback for a product/service and go for it?

You should stop researching when you feel comfortable that you have gathered enough information on the topic you are researching and you have a clear idea of how receptive your target audience will be.

There are some questions you can ask yourself to help you make this decision:

• Did you ask enough people?

• Were the people you asked your target audience?

• Did you try to influence their answers with the questions you asked?

• Were there common themes in the answers?

• Do you have enough information?

• If you launched tomorrow would you feel comfortable with the information you have?

• Has anything changed that may impact the launch?

What are the links between feedback and insight and marketing?

Feedback and insight and marketing are the perfect match as they help each other achieve their goals.

You can take hours, days, months developing a detailed marketing plan with clear objectives however if you do not take the time to understand the needs and desires of your target audience then you will be unlikely to succeed.

Feedback and insight can therefore be seen as the guiding light to keep your marketing activity on the right track.

Can feedback and insight help a small business?

Yes. In fact it is perhaps even more important for a small business to be able to get inside the mind of your target audience so that you can identify their needs and meet them, helping you to succeed in the process.

You may, however, not be able to afford to invest in a lot of market research.

If you fall into this bracket then we recommend you pick up the phone and call some of your most valuable and loyal customers and simply ask them some questions like:

• Why do you use us over our competitors?

• Who would you classify as our competitors?

• What do you like about us?

• What would you like to see improved?

This can be a quick and easy way to gain some insight into how you could develop your business.

How will I know if feedback and insights has helped my business?

You will know that feedback and insights has helped your business if you have directly benefited from the information you gathered.

For example, if you wanted to launch a new product but your research told you that it will not appeal to the audience you are targeting then the research has been a success.

Should I be wary of feedback and insight in case I don’t like the answers?

It’s better to get negative feedback before you launch a product or business.

Constructive criticism is valuable; it enables you to modify, adapt your product or service – or in the worst case, scrap it altogether, but this could prevent you making an expensive mistake.

If criticism reflects a general opinion you cannot afford to ignore it.

Work with it; use it to your advantage; benefit from it.

Can feedback and insight help my business grow?

Absolutely. Customer feedback and insight will help your business grow as it will allow you to make decisions and tailor your strategy based on accurate information rather than simply making assumptions.

This means that the decisions you make will have a much higher chance of succeeding.

What kind of areas can I seek feedback on?

You can seek feedback on anything from customer preferences to the success of promotions.

Some of the areas you can seek feedback on include your:

• Products/services

• Customers preferences

• Promotions

• Social media use

• Competitors

• Market

• Brand

• Pricing

• Marketing campaigns

Can feedback and insight help me understand our customers more?

You can find out everything there is to know about your customers using feedback and insight.

The key to success is to not jump in at the deep end.

Take your time to understand what information will benefit you the most so you can achieve the highest return on investment.

Can’t find the answer you are looking for?

Send us your question today!

Feedback & Insight Q&A banner mobile

 

What is feedback and insight?

Feedback and insight is a marketing term that describes the process of obtaining opinions about a business, product or service.

Why is feedback and insight good for me?

Feedback and insight is good because it helps you to improve your business, your products/services and your overall customer experience.

What are the key benefits of feedback and insight?

Some of the key benefits of feedback and insight are as follows:

Improve a product or service

Listening to customers can guarantee you create a product or service that they actually want.

Customer feedback is used to ensure that the product on offer is something that solves a customer’s problem or fulfils a need.

In today’s competitive world, companies who can combine product development and feedback and insight will enjoy strong competitive advantages, customer loyalty and ultimately success.

Measure customer satisfaction

Measuring customer satisfaction can determine whether your product or service meets expectations.

Customer feedback surveys help you measure customer satisfaction.

Provide data that can be used to make better decisions

Decisions taken based on facts rather than on guesses deliver the best results.

Listen to what your customers tell you.

If a high percentage of your customers tell you they want something then listen to them.

How much time and money should I spend on feedback and insight?

This depends on how much you value the benefits of feedback and insight.

If you are willing to undertake a feedback initiative yourself then it will take up time and energy.

You have to ensure the questions and answers will provide the clearest data.

This is a low cost option in a world where free survey tools are readily available.

If you don’t have the time but are able to allocate a budget to employ a specialist or company to carry out the research then you could be looking at a wide and varied spend.

You could be looking to spend anywhere in the region of £500 to £5,000+.

Who can I survey?

The answer is anyone.

However, you might want to think about targeting specific demographics to focus in on specifics that are relevant to you.

How many questions can I ask?

There is no limit but you should not aim to have your survey take longer than 15 minutes.

How many people can I survey?

That is entirely up to you. You can look to set limits or you can look for as many viewpoints as possible.

Time and budget will play a role in deciding this, as the more you survey the more time and money it will take to analyse.

However, that can be offset by the increased accuracy and value of the data.

How long does the research take?

It depends on how long you run your research for and how much data there is to analyse.

What research methods would be useful to me?

The most common methods used are written, telephone and online surveys.

You could also utilise group sessions such as focus groups and face to face interviews.

A mixture of methods can help illuminate the data and add value to the research being conducted.

Can I do the research myself?

If you are willing to undertake a feedback initiative yourself then it will take time and money but the answer is yes.

If you don’t have the time but are able to allocate a budget to employ a specialist or company to carry out the research then you could be looking at a wide and varied spend.

You could be looking to spend anywhere in the region of £500 to £5,000+.

How does feedback and insight inform business decisions?

Feedback and insight helps you to make the right decisions at the right time.

Whether you are looking to launch a new product, re-brand your business or launch a new advertising campaign, feedback and insight will allow you to understand the thoughts of your target market before you hit the launch button.

Ultimately feedback and insight gives you the information you need to reduce risk and maximise return on investment.

How much can I trust the research to help me make business decisions?

In general research is a great way to get inside the mind of your target audience, helping you to make the right decisions at the right time.

However how reliable and trustworthy your information is will depend on how you gathered it and how many people you asked.

Your findings are going to be far more reliable if you sent it to a targeted audience of at least 50 people rather than asking a group of random people in the street.

How do I know when to stop researching feedback for a product/service and go for it?

You should stop researching when you feel comfortable that you have gathered enough information on the topic you are researching and you have a clear idea of how receptive your target audience will be.

There are some questions you can ask yourself to help you make this decision:

• Did you ask enough people?

• Were the people you asked your target audience?

• Did you try to influence their answers with the questions you asked?

• Were there common themes in the answers?

• Do you have enough information?

• If you launched tomorrow would you feel comfortable with the information you have?

• Has anything changed that may impact the launch?

What are the links between feedback and insight and marketing?

Feedback and insight and marketing are the perfect match as they help each other achieve their goals.

You can take hours, days, months developing a detailed marketing plan with clear objectives however if you do not take the time to understand the needs and desires of your target audience then you will be unlikely to succeed.

Feedback and insight can therefore be seen as the guiding light to keep your marketing activity on the right track.

Can feedback and insight help a small business?

Yes. In fact it is perhaps even more important for a small business to be able to get inside the mind of your target audience so that you can identify their needs and meet them, helping you to succeed in the process.

You may, however, not be able to afford to invest in a lot of market research.

If you fall into this bracket then we recommend you pick up the phone and call some of your most valuable and loyal customers and simply ask them some questions like:

• Why do you use us over our competitors?

• Who would you classify as our competitors?

• What do you like about us?

• What would you like to see improved?

This can be a quick and easy way to gain some insight into how you could develop your business.

How will I know if feedback and insights has helped my business?

You will know that feedback and insights has helped your business if you have directly benefited from the information you gathered.

For example, if you wanted to launch a new product but your research told you that it will not appeal to the audience you are targeting then the research has been a success.

Should I be wary of feedback and insight in case I don’t like the answers?

It’s better to get negative feedback before you launch a product or business.

Constructive criticism is valuable; it enables you to modify, adapt your product or service – or in the worst case, scrap it altogether, but this could prevent you making an expensive mistake.

If criticism reflects a general opinion you cannot afford to ignore it.

Work with it; use it to your advantage; benefit from it.

Can feedback and insight help my business grow?

Absolutely. Customer feedback and insight will help your business grow as it will allow you to make decisions and tailor your strategy based on accurate information rather than simply making assumptions.

This means that the decisions you make will have a much higher chance of succeeding.

What kind of areas can I seek feedback on?

You can seek feedback on anything from customer preferences to the success of promotions.

Some of the areas you can seek feedback on include your:

• Products/services

• Customers preferences

• Promotions

• Social media use

• Competitors

• Market

• Brand

• Pricing

• Marketing campaigns

Can feedback and insight help me understand our customers more?

You can find out everything there is to know about your customers using feedback and insight.

The key to success is to not jump in at the deep end.

Take your time to understand what information will benefit you the most so you can achieve the highest return on investment.

Can’t find the answer you are looking for?

Send us your question today!

07523708876
info@vertigo39.com
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