Tracking studies are a tool used by merchants to track a group of people to see how their views change over a period of time. This is helpful to the merchant so that they can keep track of changing trends. These studies use questionnaires that are given at a given interval such as weekly or monthly. These questionnaires are the same thing each time they are given so that the merchant can see how those trends change during that time period.
These studies are an effective way of checking trends and keeping up with the changes. This can help the merchant track how advertising works, brand studies, comparisons to competitors, and how customers perceive the company, and to see how those perceptions change over time.
What Can Businesses Learn from These Studies?
Goals and Objectives
The business can see if its goals and objectives are made for a time period such as a month or quarter. They will be checking for customer satisfaction, how profitable they are during that period, how the community perceives them, and how to keep employees, just for starters.
Benchmark Data
Benchmark data is a point of data to see where you start, to give you a starting point for your data. This data is then compared to future data to see how much you have improved or how much you still need to improve. The benchmark becomes your baseline, used to compare future data.
The Ability to Fix Problems as They Happen
If you are tracking things on a regular basis, you can fix problems as they appear. By watching the surveys, you can see when and where customers are not satisfied and see what you can do to immediately solve that problem. This allows you to keep your customers satisfied and keep them coming back.
The Ability to Change Survey Questions
If you are monitoring the surveys every so often, you can add or take away questions depending on their relativity. If something comes up – such as a pandemic or even something smaller like a new competitor – you can add questions that are meaningful. You can also check the questions and see if there are any that are outdated and remove them.
See How Successful Your Sales Campaigns Are
By using monthly surveys to track your sales campaigns, you can see how successful – or not successful – the campaign is. If it is working, you can continue to keep it going. If it is not working, you have time to change things up to make it more successful. This can help you to stay pertinent in the market and to keep customers coming back.
Save Money
This type of tracking saves you money overall because it is cheaper than other types of marketing studies. Sometimes the survey companies offer discounts for long term use, and if you use a variety of surveys to track your success. This will also save you money on your tracking budgets, helping you out overall.
Types Of Tracking Studies
There are many types of tracking studies that you can use, and you can use more than one at a time. There are online customer surveys, non-customer surveys, employee surveys, receipt tracking surveys, and ad effectiveness surveys.
Online Customer Surveys
This type of survey measures customer feedback to see how they change over time and how they change their opinions, emotions and buying habits. These surveys here also track changes in brand perceptions, product awareness, competitor comparisons, and other things. If you see problems occurring in any of these areas, you will be able to fix them quickly.
Non-Customer Surveys
These surveys are for those people who are not yet your customers, just the general public. They measure things such as brand switching, price and vendors, and how well do consumers know your business. If these surveys are done on a regular basis, you can see how the consumers change their attitudes about business in general and your business and products in particular.
Employee Surveys
These surveys measure the happiness of your employees because happy employees are ones that stay with your business longer. Employees who are happy and engaged means that the customers will be happier and will likely stay with your business longer. These surveys measure many things such as work engagement, compensation, and benefits.
Receipt Tracking Surveys
These types of surveys measure customer feedback and give you information about how they are feeling about a particular product or service. There are ways to ensure that the customers have recently been to one of your businesses and then you can send them a survey through email, text, or phone. That ensures you that the people you are surveying have used your products or services.
Others
There are other surveys that your business can use to get the information that you need. You just need to pick the one, or ones that best help your company get the information you are looking for. Surveys are one way to ensure the success of your business.
