4 Hidden Perks Companies Can Get from Market Research

4 Hidden Perks Companies Can Get from Market Research 

According to the Australian Bureau of Statistics, over 2.3 million businesses actively trading in Australia as of June 2018. Small businesses and large conglomerates contribute to the thriving economy of the country. But to ensure the steady success of these businesses, owners must rely on an Australian market research agency to help them come up with strategic decisions for their operations.

Market research companies help businesses reach their full potential. Its’ services are often useful in improving an enterprise’s marketing and strategic methods. But there are several unexpected perks that all businesses can get from hiring a credible market research firm in Australia.

Hidden Perk #1: Find New Uses For Past Research Findings 

If businesses get excellent ratings in their latest customer satisfaction survey (CSAT), they can find more uses for it aside from gauging the views and opinions of the customers.

Companies can also use their CSAT and net promoter score (NPS) as their marketing campaign. They can feature these findings on their websites, blogs, press releases, and other marketing materials. By highlighting the scores from these results allows businesses to boost their credibility in their industries.

Hidden Perk #2: Combine Feedback into Preferred CRM Tools

One of the main roles of an Australian market research agency is to tie in the results of their research with customer experience (CX) data using Customer Relationship Management (CRM) tools. These tools are crucial for every business to boost their productivity and increase their profits.

The survey results can be linked to the fields in their database using a unique ID or customer record. It helps save time and effort in creating survey questions. It also allows companies to combine the fields in the database into the data analysis.

Hidden Perk #3: Training Tools

Plenty of businesses in Australia use customer feedback from their reliable market research agency as part of their training tools. These useful tools could either come in written comments indicated in a survey or recordings of calls used in follow-up surveys.

The feedback gathered from the surveys is very valuable for every company because it came directly from the customers. The managers can take advantage of the data to develop better processes and training for the team. They can study various scenarios using real-life situations to help the staff provide better services to their target market.

Hidden Perk #4: Case Management

A credible market research firm in Australia can help develop a system that will determine the customers that meet particular criteria automatically using a customised CX program. It will pinpoint who among their customers will most likely invest their money in the company’s product or service in the near future. It could also let the company figure out the customers who are not exactly satisfied with their offerings.

The case management indicators will let the company’s leaders instruct their team to reach out to the market. It can make it easier for them to connect with a customer immediately if they are not happy with the product or services. As a result, the company will have a chance to avoid lower satisfaction ratings.

Michael tell that Investing in the services of a reliable market research firm in Australia will be highly beneficial to achieve a company’s business goals. It is extremely important to find the right market research agency that will provide everything necessary to understand the customers better.

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