There are a number of techniques available to small business leaders who are just taking their first steps into the world of market research, and Entrepreneur magazine recently provided a rundown of some strategies and tactics.
Despite the continued prominence of online marketing, traditional methods are still strong choices for small businesses with a need for insight into their consumer base or brand awareness. An envelope containing a direct mail survey could provide critically important data just as well as an online questionnaire.
Entrepreneur does warn, however, that the response rate for direct mail campaigns tends to be fairly low even for well-executed efforts, meaning that other methods may need to be employed as well. Phone surveys, for one, are also a good way to gather data on the cheap, the magazine says.
According to marketing experts, survey data can be used to provide a more thorough picture of a target demographic to a company, enabling marketing departments to provide more thoughtful and well-considered promotions across any number of media.