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Here, we discuss marketing and the tools that are helpful including B2C surveys and commercial due diligence
B2C surveys are part of research conducted on a company, products/services, a market, or an industry. For instance, if a firm is looking to acquire a company in another geography and needs more information about its products, it will conduct B2C surveys. Through a B2C survey, the firm can survey the end customers of the product or service. In this way, it can get information about pricing, features, behavioural patterns of consumers, etc. Hence, marketing consultants use B2C surveys in this process. This streamlines the decision-making process in the marketing department of a business.
Other than marketers, PE firms use commercial due diligence and that includes B2C surveys too. If you would like to know why PE firms use market research, you can read the article by ResearchLive. Here, the context is slightly different than marketing. For instance, the financial services industry also uses B2C surveys. Apart from finance, industries like retail, healthcare, real estate, and IT companies have also used B2C surveys. In fact, GrapeData recently helped an educational institution reshape its learning strategy. The institute was looking to get data on how students feel about hybrid learning, after the pandemic. We used B2C surveys to gather this intel and delivered results to our client in just two weeks. To find out more, check out our case study on B2C surveys.
B2C surveys have information about a company’s top consumers, products, and sales funnels. Additionally, they can also have a country-level breakdown of profits and demographics. Other than B2C surveys for commercial due diligence, legal due diligence or financial due diligence can also be conducted.
B2C surveys have been popularly used by marketers over the years. Let’s look at 5 reasons marketers run B2C surveys for commercial due diligence:
A B2C survey is useful in delivering insights about consumers. Marketers looking to understand how consumers behave can use B2C surveys as a data tool. Through the B2C survey, marketers can get information about what customers like and dislike. This can then form the basis of new product launches. In addition to this, sentiment analysis can give marketers an idea of what to improve in their product offering. Using the information that they got from the B2C survey, they can make data-based decisions. Making any improvements to their existing product offering might even result in revenue gains.
B2C surveys are a useful tool in brand positioning. Let’s look at what brand positioning is. In the customer’s mind, there's always an idea of what a company stands for. Imagine if someone says ‘Microsoft’. What is the first thing that comes to mind? For most people. It’s Microsoft's logo and that’s how they have created an image for themselves. B2C surveys can help gather what customers position your brand as. Sometimes, there’s a mismatch between how you position yourself as a company and how consumers see your brand. As a result, it may result in customers not buying from your brand anymore. So, marketers can use B2C surveys for brand positioning, in this case. B2C surveys can instantly provide data from thousands of customers. Marketers can then use this information to make changes to their positioning.
Marketing consultants are always on the lookout for how best to improve their communication with customers. B2C surveys can help these marketing consultants achieve exactly that. Let’s understand this with the help of an example. Say that a major fast food chain discovers that the user engagement actions are not being received well. The usual practice for them is to send out emails, but the click rate on the emails is very low. What can they do to solve this problem? They can use B2C surveys to find out what customers’ preferred method of communication is. After the B2C survey is conducted, they find that customers like to receive text messages. When they implement this practice, they find that their conversion rates increase. Therefore, they have successfully achieved an engagement goal.
Similarly, B2C surveys can also help improve advertising campaigns. Gathering customer data can help improve how ads appear to customers. Marketing consultants can use B2C surveys to modify their messages in ad campaigns. B2B market research also functions in a similar way to advertising. The difference is that the target audience changes from consumers to professionals. For an in-depth read on how B2B market research is used in advertising, you can read our blog post in detail.
Not only can B2C surveys help in engagement, but they can also help with the content of the messages. Markets have to be very careful about the language of messaging that they use in all communications. Using B2C surveys, marketers can learn the cultural connotations and language preferences of their customers. With the help of targeting messages, marketers can also drive more people to their business.
B2C surveys help marketers forecast trends in their industry. With the covid-19 pandemic and the ongoing economic climate, businesses need to have a lot of foresight. Marketers need to know how best to position their business and carry out all communications. B2C surveys can be one tool to gather this information. Other forms of market research such as competitor intelligence surveys can also help in this arena.
At GrapeData, we know the ins and outs of B2C surveys. We are an industry agnostic survey panel provider that can help source the right respondents. If you’re a marketer, or a business consultant looking to conduct B2C surveys, we have got you covered. Since we cover all industries and 100+ countries, we can provide the best survey panel for your survey. You may be wondering how we do this. Below we explain how we streamline the process of B2C surveys for your business.
GrapeData targets respondents using intelligent technology. Sourcing the right survey respondents is one of our core USPs. Using AI and geolocation, we recruit the correct profiles for your B2C survey. If you want to learn more about how we do this, check out our contributors’ page on survey respondents.
Survey programming and scripting are imperative for a B2C survey. It is the best way to ensure that only relevant respondents are sourced for B2C surveys. Programming refers to translating the survey requirements into questions so that respondents can answer them. Survey scripting is the process of asking the right questions so that the right data can be collected. For any B2C survey, survey programming and scripting are crucial.
At GrapeData, we aim for the best survey respondents in the quickest time possible. Our survey respondents are thoroughly screened before they are allocated a survey. Also, our technology-powered app provides a pool of 300k respondents for your B2C survey. Our end deliverable is of the highest possible quality so that you can get all your data needs in one place.
To sum up, B2C surveys are a useful tool for marketers and business decision-makers. B2C surveys can gather useful insights for customers. Using B2C surveys, marketers can modify marketing content and lead to increased revenues. Marketers can also predict customer behaviour patterns to get ahead of the competition. Ultimately, B2C surveys are useful to predict the market and reduce uncertainty in any market. If you need any additional information on B2C surveys, don’t hesitate to contact us at firstname.lastname@example.org.