We use cookies and other tracking technology to improve your browsing experience on our website, to show you personalized content, to analyze our website traffic, and to understand where our visitors are coming from. By browsing our website or clicking Accept Cookies, you consent to our use of cookies and other tracking technologies. Read our Privacy Policy
6 min

6 benefits of running an industry survey

Explore the 6 benefits of running an industry survey in this post

Mar 22, 2023
B2B market research
B2C market research


Business-to-business (B2B) and business-to-consumer (B2C) companies all face the same challenge: how to find new customers, increase sales, and improve the bottom line? An industry survey can be an excellent way to learn more about your target audience. It can also help to identify potential areas where you need to make improvements in order to achieve success.

1. An industry survey is a research method of gathering data about the performance of a business or an organisation

Companies can conduct an industry survey by collecting responses from customers, employees, and other stakeholders who are part of that particular industry.

The benefits of running an industry survey include:

  • Helps you understand your customers better by providing insights into their needs, preferences, and expectations. This information can help you identify opportunities for growth in your business.
  • Enables you to understand your competitors better, which can help you develop strategies to gain a competitive advantage.
  • Is a great tool to evaluate the performance of your business, employees, and other stakeholders. 
  • Enables you to identify areas for improvement so that you can take corrective actions.
  • Helps you identify issues that need your attention, which can help you prioritise and focus on the right things. 

2. An industry survey can help you identify trends and patterns in your industry

By collecting information from a large number of people, you get insights into what your customers want and how they're reacting to changes in the market.

  • You can use this information to inform your marketing strategy. If most people are using social media for marketing purposes, then maybe it's time for you to join them! Or if customers are having trouble finding products on your website, it might be time for an overhaul of your search engine capabilities.
  • An industry survey gives you insight into what competitors are doing. If one competitor has been successful with a new pricing structure or product line extension (or even just a new brand logo), then there's always room on the market share battlefield for another contender. Knowing where they've been successful can help guide how much effort goes into developing similar strategies at your company.

Surveys can also be used for gathering information about customer satisfaction, employee engagement, and more. Whether you're looking for feedback on your latest product launch or trying to expand into a new vertical, an industry survey is a useful tool.

3. Industry surveys can evaluate the performance of an industry by using different metrics

These metrics include customer satisfaction, employee satisfaction, financial performance, and others. The information gathered from these surveys helps companies understand their strengths and weaknesses. They can then develop strategies for improving their business performance.

The benefits of conducting an industry survey are as follows:

  • Provides a deeper understanding of the market and competition. 
  • Helps companies develop strategies based on industry trends.
  • Aids companies understand the needs of their customers.

4. You can use an industry survey to make strategic decisions about the future growth of your company

For example, let's say that you are looking to enter a new market or expand your current product line. Then, conducting a survey will help you understand what customers want so that you can serve them better in the future.

In addition to helping with strategic decision-making, surveys also provide valuable feedback on how well your products are selling in different areas of the country or world. You may find out that one particular type of shoe is very popular among runners but unpopular among cyclists (or vice versa). This type of insight helps companies improve their product offerings.

5. An industry survey allows you to compete effectively

Running an industry survey has several benefits for businesses. These include helping them learn about the current state of their industry, identifying important trends, and making strategic decisions regarding their future growth.

This can be particularly useful for new companies or businesses that are looking to expand into new markets. Industry surveys allow you to get a sense of what your competitors are doing right, and wrong so that you can compete with them effectively.

Industry surveys help you to understand the current state of your industry and identify important trends. They can also be used to make strategic decisions regarding your business’s future growth. In business, an industry survey is a type of research used to collect data about a specific industry or business sector.

An industry survey can be conducted by:

  • A private company for its own use.
  • An individual conducting the survey on behalf of another party (such as an employer).

6. You can use an industry survey for market research and competitive analysis

A survey is a great way to get information about your customers, competitors, and the market in general. Surveys can be used to assess how happy customers are with their experience with your business or product, and what features they like most about it (or least). They can also reveal what would make them choose one company over another in similar situations. They can also help you understand how other businesses are doing that offer similar products or services. This is so that you know where they stand in the market compared to your own company's performance.

A survey can be used as a valuable tool for market research and competitive analysis.

It will allow you to gauge the level of interest in your products and services. In addition, it can help identify potential areas for improvement. It can also help you identify the strengths and weaknesses of your business compared with competitors. This gives you an idea of how best to position yourself against them when it comes time for pricing negotiations or other business decisions.

What do you need to conduct a successful industry survey? 

Running a successful survey requires a lot of planning and effort to ensure that there are no errors in the results obtained from the participants in your study.

In order to conduct a survey, you will need to:

  • Choose an appropriate sample size for your industry survey. This can be calculated using methods such as simple random sampling or stratified sampling.
  • Draft a questionnaire that covers all aspects of running an industry survey, including how long it takes to complete, what type of questions should be asked, and whether they should be multiple choice or open-ended questions (or both). You might also want to include an introductory paragraph explaining why this study is important and why people should participate in it too!
  • Choose a method for distributing your survey. You could use email, or social media or simply post it on your company website and ask people to fill it out. If you are using an online survey tool, then you probably won’t have to worry about distribution.

Some industries require more frequent surveys than others. For example, retail stores need to measure how well they are doing every two weeks, while manufacturing industries may only require one or two surveys per year. Depending on the type of business you run, it may make sense for you to conduct surveys more frequently than what's typically recommended by experts. It's also important to note that the frequency of your surveys should be based on the type of data you're after. 

Some other ways that you can use an industry survey

An industry survey is a great way to understand the needs of your target audience. You can use industry surveys to gain insights into what your customers want and how you can better serve them. Here are some ways you can use an industry survey:

  • Identify pain points.
  • Find out what your customers think about your product or service.
  • Understand why certain products or services sell well and others don't.
  • Industry surveys are a great way to find out what your customers want, how they're using your product, and what kinds of problems they're having.
  • Find out how your customers feel about your product or service. You can ask them questions like: "How do you feel about our product?" or "Do you think we should change anything?"
  • See if there's demand for a new feature or product. If your customers are asking for something, it might be worth making it!
  • Find out what kind of support they need from you. If they have trouble understanding how the product works, maybe you need to improve the user interface.

You can use an industry survey to create a customer list

This is a great way to get your company's name out there and start building relationships with potential clients. When someone fills out the survey, you can add them to your mailing list so that you can send them updates about upcoming events or promotions. This can be especially helpful if you're trying to reach people who aren't already familiar with your brand (like new customers). It'll give you an opportunity to introduce yourself before they buy anything from you!

An industry survey can help you expand your knowledge about your competitors 

Running an industry survey can help you expand your knowledge about the competition and which companies are doing well. You can also use this information to make better business decisions in order to ensure that you don't fall behind in the field.

For example, if one company has recently launched a new product that is already selling well, it may be worthwhile for your company to follow suit with something similar.

A survey can be an excellent way to expand your knowledge about your competitors in the field. This can help you understand their strengths and weaknesses. In addition, it can help you find out what they're doing right that you should be doing too. An industry survey will allow you to compare yourself against similar companies within the same industry. This gives insight into how well or how poorly those businesses are performing compared to yours!

You can an industry survey to develop marketing strategies and business plans for your company

One of the biggest benefits of running an industry survey is that you can use the results to develop marketing strategies and business plans for your company. Asking customers what they want from a service or product will help you focus on providing it, which makes them more likely to keep coming back.

Researching your niche market is crucial for success in any business venture

You're probably wondering why you should run an industry survey. The answer is simple. Research helps you understand your customers. This will help you create products or services that are more in line with their needs. It also allows you to make better decisions about how much time and money to invest in marketing campaigns. Knowing who your audience is will give insight into what messaging has worked best for them in the past.

In addition to helping with marketing strategies, industry surveys can provide valuable information about the state of your industry as a whole (and sometimes even the economy).  Suppose there's been an uptick in demand for certain types of products within an industry over time. Let's say that this trend persists even during periods when overall economic conditions are less favourable. It could be a signal that there may be room for growth within those products going forward! This kind of data would not have been available without conducting an extensive survey.


As you can see from the above list, conducting an industry survey is a great way to learn about the current state of your industry, identify important trends, and make strategic decisions regarding your future growth. The information gathered during this process can also be used to develop marketing strategies and business plans for your company. There are a number of ways that you can use an industry survey.

The most common way is to gain insight into how your competitors are doing in the market, as well as how you compare to them. This is helpful for knowing what kind of services and products your audience is looking for so that you can make sure you're providing those things. Another way that an industry survey can be used is to gain insight into how customers feel about your brand. This can help guide your marketing efforts and inform how you interact with customers both online and offline. For further reading, check out: the 3 types of industry survey a company could run.

Seamlessly submit surveys on the go.

Bring your experience to your mobile via our app.