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.Sign Up to Watch
-Well, let's dive on in. So step number one, designing your survey. Dan, tell me what does a good survey look like? What questions should I be asking? What things should I be looking for? How do I set this up to get effective data coming back from the survey?
-Well, you have to think, first of all, who am I going to ask, right? So if you want to get a good survey, you want to get as many people as possible to answer this survey. So if you're getting as many people as possible, more than just like the very-- you know, your friends or your family, you probably want to think, how much time do I have with these people? It's probably not a lot.
So you want to keep your questions short. Keep them short questions. And they need to be easy to understand. They can't be things that like-- if it's hard for me to understand your question, I'm just not even going to do anymore because it's work for me. You want to make it easy for them to understand, a short question, and they need to be closed-ended questions.
They need to be yes or no or multiple choice. They can't be, write me a paragraph about what you think about where I should-- they can't be like that. They need to be, do you like A or do you like B? Give me your opinion on A or B. You know, like give me a yes or no on those sort of things.
-OK. Now, how many questions am I asking these people? When I go out and do a survey, how many questions should I have?
-Again, you've got to think, you don't have very much time with these people. So 10, 15 questions, that's all you're going to have time for if you're lucky. So go around that range, 10 questions to 15 questions.
Sometimes, you know, back in college Mazzio's Pizza would have us come in and have us take surveys of their stuff, and they'd give us free pizza for it. That's how they got all the college students to come in and do their service, right?
So you might need to do something like that. You might need to partner with somebody to say, hey, we'll give you something free if you fill out our survey. Otherwise, you need to keep those questions to a minimum, like 10 to 15 really solid questions that mean a lot.
-So are you telling me one of these super moves in getting people to take your survey is maybe offering them a free product or a free service just for taking that survey?
-Absolutely. That is the super move. And what you'll see right now if you go to a fast food place, they'll say fill out this survey at the bottom and maybe you'll win $500. You've seen this. I've seen this.
-I'm still trying to win that $500.
-Like multiple times a day maybe, right? Yeah. But does anybody win the $500? Maybe. But it doesn't really inspire me to go fill out that survey very often. Sometimes, maybe if I'm feeling lucky, maybe. But something physical, something tangible, if you have the ability to partner with somebody that can provide those physical, tangible things, that's going to help you a lot in getting those surveys.
Because if you can give me something, if you can give me a free slice of pizza, then yeah, I'll take five minutes to fill out a survey because I'm getting a slice of pizza. That means more to me then a chance to win $500. Because I don't know, A, if you're really giving that away, and, B, I don't think I'm probably going to win.
-OK. So then the next thing that you got to explain to me is, what information do I need to know about the people that I'm surveying? What types of questions do I ask them about that?
-So when we're talking about our ideal buyers earlier, right, our 100 most ideal buyers, we need to know who these people are. So you need to find out their age. You need to find out their gender. You need to find out their ethnicity. You need to find out things about their income or maybe their family situation.
You want to know who these people are, because as you get more and more results from those surveys, you'll be able to start noticing patterns. You'll be able to start noticing, all right, males from 24 to 30 think this, while females 18 to 24 think this.
And that's what's going to help you start narrowing down your target market. That's going to help you find out who it is that will actually potentially buy from you. But that only happens if you know who those people are.
-OK. So I know who's answering these questions on the survey. What questions do I ask as it relates to, specifically my product and my service?
-So for specifically your product or service, you need to ask questions, since you only have 10 or 15, that really are going to tell you a lot about what you're trying to do. So when, where, and how a customer might use your products.
Questions about product design. Do you like it in this color? Do you like it in this size? What about if this feature was included? Does that matter to you? These sort of things. How much would you be willing to pay for a product like this?
Maybe you have a prototype out there that says, here's my wallet, how much would you pay for this wallet? So you can get a good idea of what the range is that people think that's pretty normal, pretty acceptable.
But when you're doing all these things, one thing you need to keep in mind, everything you put out there questionnaire, survey-wise, they've got to be free of errors. So grammar errors, spelling errors, punctuation errors. If you have those errors in anything that you're doing, people aren't going to take you very seriously.
They're not going to take you as legitimate buyer or seller or person that's trying to provide something to the market. If you can't have an error-free document that says, this is what I'm all about, if there's spelling errors all over this thing, I'm probably not going to buy your wallet even if I like your wallet because I'm not going to take you very seriously.
-I'm going to go ahead and give the Thrivers a couple different resources on how to put together this survey. How do I physically and tangibly get that survey in front of people, OK? And so the very first and foremost thing is very easy, is Microsoft Word, OK?
And we're actually going to go ahead and include a downloadable for all the Thrivers to be able to download and say, hey, you just plug-in your different questions here and it's going to be more or less like a worksheet for them. It's a nice little downloadable.
DAN MCKENNA: Yeah.
-But what are some other options, OK? One of which is Zoomerang, OK? It's an online survey and poll creator, OK? You can get there to Zoomerang.com. You can get to Survey Monkey. Survey Monkey is another really good resource. It's an online survey generator, and that's at SurveyMonkey.com.
And you can also use Google Forms. Google hosts a very free version of hosting online surveys, and we're actually going to walk the Thrivers through using a little bit of that, OK?
-So you can actually get to it by going to google.com/forms/about. So if you just Google Google Forms. And you're going to need to go ahead and log into the very specific Google account that you're using to create this, OK? So you go to Google Forms and then you get to this landing page, you click Go to Google Forms.
So now it's going to pull up this page where it's going to ask us, hey, let's create your first form. So down here in the bottom right-hand side, do you see this little plus sign? When you click on this plus sign, it creates a new form. Now, we're going to want to conduct our consumer market research, so we're going to go ahead and title this form Conducting-- oh man.
DAN MCKENNA: Oh man, here we go.
MARSHALL: Oh man. Spelling in front of millions of people--
DAN MCKENNA: Oh man.
MARSHALL: It's just really, really difficult.
DAN MCKENNA: This is high pressure stuff.
MARSHALL: Conducting Market Research. Oh buddy. Here we go. Conducting Market Research. OK. So now we have the title of our form and we can put in a little description. Let's say, Dan McKenna's shoe company. Very cool. Dan McKenna's shoe company.
DAN MCKENNA: Absolutely.
MARSHALL: So we're going to want to put in all of our different questions here. So what age are you? Are you below the age of 18? Are you 18 to 24? OK? So what age are you? What are you?
DAN MCKENNA: What are you?
MARSHALL: What are you? What age are you, OK, as being a potential good first question.
DAN MCKENNA: Sure.
MARSHALL: And then we want to plug-in our options, OK? And we're just going to do one of these questions just to show the Thrivers here, but you could put below 18. OK? Then click and add an option, you could say, 18 to 25. OK?
DAN MCKENNA: Yup.
MARSHALL: Click to add another option. You could do 25 to 35. And then the last option being 35 plus. Now we have a very, very easy very first question, OK?
DAN MCKENNA: Yeah. This is a great example of how to set all this up and it really is that easy. You just need to come up the questions that are going to matter to your product or your service and then get those all out there on something like this.
This is really easy to do and you could see as Marshall was punching it in there, it's probably going to take you 15 minutes to put the whole thing together. It's not a lot of work. It's definitely worth doing.
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