Featured Coaching Training: Conducting Consumer Research: 4 Steps To Surveying The Market
Are you in the right target market? Do consumers want to buy your product? In this series, you will learn how to effectively create a consumer survey and analyze the results for your investor pitch presentation.
Featured Coaching Excerpt - Notes & Transcript, Part 1
4 Steps To Surveying The Market: 2. Administer Your Survey
Lesson Nugget: Not everyone will participate in your survey. Be prepared to ask more people than you need.
Action Step: Have each person on your team get 3-5 people to take your survey.
Lesson Nugget: Begin by asking friends, family, mentors, and other people you know to take your survey. After that, you can go to a public place to ask people.
Ask Yourself: Who can I ask to take my survey?
-Now we're going to get into step number two, administering the survey.
-Yeah, and while we're administering the survey, before we jump into this. You got to realize, if I'm going to get out there and I'm going to try to get this survey out to 100 people. I'm probably going to get 20, 25 people that'll stop by and say, yeah, I've got that time to do that.
So you've got to realize, regardless of how you're doing it. If you're sending it out via email, or if you're doing it on the street, or if you're doing it in your classroom, most people aren't going to do that, and that's OK. Because you have to know it's like a numbers game, right?
So while you're out there administering your survey you have to know, and don't let it get you down, because it's normal. It's going to happen. You have to get out there and hustle. You gotta talk to everybody, because if you talk to 100 people, you might get 25, maybe 35, if you're lucky.
You might have people say, yeah I'll stop for five minutes and fill out your survey. The majority of people won't do it. You just got to keep getting in front of people and keep getting in front of people until you get enough to make some data that makes sense.
-I've had the same experience when I've tried to ask those girls out on the street out on a date. Not a very good response rate for that either.
-That's a tough thing. If you're just going to go up to girls on the street, out of 100, you might get--
-Maybe half of one.
-Yeah, that's a cold call.
-That's a cold call. So, what are some very easy ways for us to get a lot of data very quickly. Now, maybe our Thrivers are working with a team of people. So, as an action item, I'd like to pose each person on your team, if you're working with other people. Just make it a commitment to getting maybe five people to take the survey.
Say, hey, I'm going to get is X, Y, and Z person to sign up. Hey, and you get A, m and C person to sign up. I feel like that's a very fast way to be able to scale getting a lot of data very quickly. Do you have any thoughts on this?
-Yeah that's a really easy way to do it. You have to determine what is the number we want to hit to say, this is pretty accurate data because we polled this many people. So if that's 25 people taking the survey, which is a very low number, really. But if you're saying we need to hit 25, and there's five people on your team, then everybody on your team needs to get at least five.
And what I would do if I were you, I would say, OK, we want to hit 25. Everybody on the team needs to get 10. Because not everybody on the team will get 10. And then you'll end up right around that 25 point where you want to be,
OK so like when I'm thinking through who specifically should I go ask? What places, what locations should I be asking? Off the top of my mind, who are people that I can ask?
-Well it's easier if you're asking people that you already know, or have some sort of idea of who are. Not just a complete stranger on the street. Kind of like the girl method that you're talking about. If you don't know you at all, kind of low,
-Low success rate.
-Low success rate. So if you ask students or staff at your school, your mentors, your family, your friends, people that already know and like you, those are going to be really easy ways to get feedback. Because they already know you, they already like you, they'll probably give you a chance.
Now, if you don't ask them, or maybe you already used all of them. Maybe you already used all of them, maybe you already got five or 10, but that's not enough for what you're trying to do. Maybe you're trying to get 100 results to get a really good idea of what this data is really going to show you.
That's when you're going to get out there and hustle. That's when you're going to have to get out to the mall where there's a lot of people. Or maybe outside of a baseball game where there's a lot of people. And that's when you're going to have to hustle.
That's when you'll be out there trying to get in front of 100 people to get those 20 results back. And that's how you're really going to get some good data.
-So if I have an online Google form. OK, so we walked the Thrivers through a Google form. What are some things that I can do to really maximize that form and get it in front of a lot of people?
-So you can start with the people you already know. Start with them, because that's the easiest way. By the way, a simple email to people that you already know, they still might not it out. So here's a insider tip here for you.
E-mail it, and then call them. So you email it.
-That's a super move.
-You e-mail it to them, and then you call them immediately and you say, hey, by the way, I just emailed this to you. It would mean a lot to me if you could fill this out. Because otherwise it's going to be one of those things like, I didn't really check my email. I saw it but I didn't have time.
But if you call them, and get them on the phone, and say, yeah I'll totally do it. You'll get a higher success rate that way. So that's one, that's with the people you already know. Two is the people that you kind of know. So those are all the people on Facebook who you're Facebook friends with, but you're not really, like good friends with.
Like maybe we were on a team at one point several years ago, and I kind of remember you. I know what your face looks like. We're not like good friends, right?
-Kinda like my baseball coach's son's brother's friend.
-Yeah, exactly. Kind of people you know, but you don't really know. That sort of thing. Yeah, so with those sort of people, you want to get out and Facebook, and get out on Twitter. And get out any social media platform that you are already on. And you want to start pushing that.
You want to get it out to them that way, too. Again, it's going to be a lower success rate than people that you already know that like you, but that just means that you need to get in front of more people. That means you need to get in front of maybe 500 people to get a good 30, 40 responses back.
-OK so now knowledge without application is meaningless. So Thrivers, as we're going through this, and we're teaching you, this is how to administer the survey. I would encourage you, just get out there and what can I do before the end of this episode, just to maybe like push a little link to one of these Google Forms out to somebody.
Or ask yourself, who specifically can I ask, after this episode, to fill out my survey?
-Yeah right after this episode is done. I would take about 10 minutes and just get it written down, or get it typed out. Who can I get this stuff to? Start with the people you know, because that's going to get you a higher success rate. And then come up with the ideas right after the people you know, who else could I get this out to that's going to make a difference for this result and what I'm trying to get.