Here’s a quick overview of how to do your own market research surveys to help you design and market your product.
Online product surveys can be an extremely cost-effective way of getting early-stage feedback. Questionnaires can be highly structured for statistical analysis (quantitative results), or open text responses (qualitative). Given the speed and affordability, there’s very little reason not to do surveys when developing a new consumer product.
Should you do your own product surveys?
If you have the time and inclination, then at least attempting your own survey is a great way to learn more about your market and the product R&D process.
The main arguments against going the DIY route include:
- Misleading results. Inadvertent biases in your questionnaire design or survey sampling (respondents) might actually point your product development in the wrong direction.
- Low trust. Giving potential investors and partners confidence in your product idea is a major benefit of surveys conducted by trusted professionals. Self-run surveys may be viewed with some suspicion.
- Takes time. Conducting proper surveys is normally time-consuming, and more so when you’re still learning how. As an entrepreneur, your time may be put to better use elsewhere.
But since you’re an innovation entrepreneur, it’s nearly certain that you’ll do it yourself anyway! So here’s how you can get the best results on your own, doing marketing research surveys “from scratch”.
Survey result presentation
Even if you do an incredible job with the survey, others may not trust the results if the presentation is lacking. So if you intend to share your results, we recommend putting in the extra effort to make your final report look professional.