Understand Your Buyers Using Market Research | Qualtrics UK

Understand your buyers using market research

To design amazing experiences, you need to know what your customers value – which means understanding who they are and what makes them tick.

From gut instinct to true visibility

While most businesses have some intuitive sense of who their customers are, surprisingly often these ideas differ from reality when things are objectively measured up.

In addition, the way a business views its customers can lag behind the true picture as markets evolve and consumer expectations rise in line with technological advances. The people who make up your customer base today may be quite different from who they were a year or even six months ago.

Knowledge as a long-term asset

Because your knowledge of your customer informs every part of your business, from branding decisions to product design to marketing, it’s crucial to set up a buyer segmentation and profiling process that gives you a clear and detailed picture of your customer, both currently and over the long term.

Test your assumptions with data

Businesses today have the benefit of a wide range of data sources, from CRM and social media feedback to survey responses from customers and prospects. Collating and interpreting this much data can seem like a daunting task. With a unified system like Qualtrics Product Experience, you can bring everything together into a single view and use inbuilt data analysis and statistics tools to produce straightforward, actionable results.

Surveys and beyond

A survey is an invaluable tool in market research, because it can be customised to target exactly the information you want. It can also provide a mix of rating, ranking and text-based responses from your customers, depending on how you structure it. However, survey data is even more powerful when combined with other sources.

A survey’s participants will always be biased towards those who are motivated to contribute, either because they are part of a panel or because they have something especially good or bad to say.

Data gathered through social media or review sites will give you a broader range of inputs. You can also bring your existing data from past transactions, including sales records and customer service, into scope. With Qualtrics, these can be integrated seamlessly via an API.

With a range of inputs and a regular flow of data over time, your market research process can act as a lens to give you a complete view of your buyer’s interests, priorities and values.

Get started with your buyer research today