Last week we discussed how to design a survey however, I know there are additional questions surrounding surveys. I wanted to dig dipper into the subject by discussing key elements in survey research such as sample size and what types of measurements you can do using surveys.
Wha is the ideal sample size for my survey?
More is usually better… until it stops being better. Surveys are probably one of the most cost-efficient methods to get information from our customers. However, they still have both monetary cost and time cost. So, what is the ideal sample? It depends on the size of the population that you want to reach, and luckily for you, there is also a formula that this video wonderfully explains the process to calculate the ideal sample size:
I would always recommend you use 1,96 and a 5% margin of confidence.
What are some of the types of measurements can my company do?
Next here is a list of elements that you can effectively measure using surveys:
- Customer satisfaction: Compare the number of customers satisfied vs not. And how satisfied or dissatisfied they are. Also causes that are generating this perception. Check out some examples in Hubspot!
- Segmentation studies: Used to identify different clusters of customers that follow certain behaviors. For example, you could identify people that have pizza only with friends and others that only get pizza every Sunday.
- Product usage and/ownership: Does your customer really use it? What type of customers uses your product? For instance, I work with technology marketing and identifying traits that classify uses as innovators or early adopters is extremely useful.
- Brand Image and perceptions: How is your brand perceived by both customers and the population in general? What causes that perception?
- Purchase intention: Measures how many people actually intend to buy your product in a period of time. It is useful to prepare a sales forecast.
- Tracking: It requires multiple surveys across time it measures effectiveness or impact in campaigns. It’s used in political marketing or in behavioral analysis of trends and preferences.
- Media and readership usage: They identify what consumers watch certain types of content, also content producers such as tv channels and magazines use surveys to identify their viewer’s preferences.
As you see there are many types of studies that can be conducted using surveys. If you place close attention, they are useful to in a sense take a picture of what is going on at a time and place. However, if you need to dig deeper to really understand the why then it could be more advisable to conduct interviews or a focus group.
Now after discussing deeper in survey development you might still have questions. If that happens don’t hesitate to reach out in the comment section below or by contacting me directly. In the next week, I will discuss marketing experimentation and how it can help your marketing efforts. Keep tuned!