5 reasons why online survey software tools are a must have for startups

5 reasons why online market research tools are a must have for startups

Over the last few years, online survey software tools have deeply penetrated the Indian market. While several startups have to quick in adopting these new age softwares , thanks to their cost saving and DIY benefits, a large number of startups are still to open up to these critical tools.

Here are 5 reason why every startup needs to adopt online survey softwares :

1.) Market research cannot be ignored anymore

Many software platforms by startups depended on “too good to fail” theory. They felt that as long there is a solution, the problem can be highlighted. This was the very basis of utility apps like food ordering and cab apps. However, more and more startups are venturing into adventurous markets in India such as tier 1 and tier 2 cities and the journey is bound to be rocky without knowing the terrain. This is why a thorough and fail-proof plan based on data captured through market research is critical.

2.) Cost saving to the core

Even when you begin to flirt with the idea of market research, many wonder is the traditional route might the best way. This usually includes hiring a research firm or building a team in-house or to simply buy reports. All the 3 will cost your business thousands of dollar (several lakhs in rupees), and this is an amount that could be better spent on other essentials in your growing startup. Online survey software, combined with offline data capture mobile apps are free to use (unless you want to pay for more features and functions), requires zero man power, is fully DIY and allows you access to your account in realtime and from anywhere!

3.) Data analytics on the go

In a typical market research report, the most cost intensive part is not the data capture as many might think. It is infact the data analytics which often requires hiring analysts, purchasing the right supporting software or paying to outsource the complex analytical work. But with online survey tools, startups now get access to powerful data analytics in the same platform. Infact the entire process is automated and data analytics takes place instantaneously without any delay.

4.) Zero data processing time

Startups are known to work at lightening speed. Entrepreneurs and their highly motivated teams work intensively to conceptualise, create and launch products, especially when there is investor pressure. Online survey software platforms like QuestionPro work in sync with their speed with absolutely no data processing time between survey data capture and data analytics. As soon as the survey information hits your screen, you can view the resultant analytics without a moment’s notice.

5.) Learning niche facts about your target audience

Often startups feel that they already know their audience. And if you are a resident of the same country that you are launching your product, chances are that you do understand the market quite well. But in the world of mobile apps, websites and clicks, even a small and niche knowledge about your target audience can give you a major advantage over your rivals. These facts can only be known through comprehensive market research tools that allow you to dig deep into your demographics and explore meaningful data.