Topline Customer Feedback Surveys
Increase sales and profits by giving customers what they want.
Challenging Business Environment
As business becomes more competitive, business owners and managers often struggle to generate enough income and profit to match the desired return for the amount of risk ventured. After more than 7 years, many markets have not recovered to levels prior to the GFC. The Australian economy has been flat during this time and although interest rates are at record lows; the Australian economy does not seem to be gaining momentum. The flat economy is here to stay for the foreseeable future and business will need to find new innovative ways to grow and generate acceptable profits.
Therefore, businesses are seeking simple ways to grow sales and profits without taking more risk. Fortunately, Topline Customer Market Research can provide the solution.
Why Undertake Customer Feedback Research?
1. Reduce the risk in decision-making and remove the guesswork
In order to reduce the risk in business decision-making, it is important to understand how responsive customers and the market is to your products and services. For this reason, businesses undertake market research to provide solid data to improve decision-making.
2. Businesses that perform regular market research grow faster and are more profitable
esearch has shown that businesses that perform no market research or occasional research consistently show lower growth and lower profitability than businesses that undertake frequent and regular market research.
3. Increased sales revenue and profit through better customer service and customer value
Independent market research provides businesses with unbiased customer feedback. Customer feedback can enable a business to change their products and services to better meet the customers’ needs and improve the value delivered. Better customer service and improved customer value will typically result in increased sales revenue and profit.
The Challenge with using Internal Teams
Many businesses have internal customer service teams that regularly get feedback from customers. Unfortunately research shows that feedback collected by internal teams is often not accurate and does not uncover the real issues. Customers often do not want to tell suppliers the truth.
Research shows that customer feedback surveys conducted by an independent third party treating customer feedback with confidentiality in an anonymous process enables customers to provide true and honest feedback.
What stops businesses undertaking regular independent research?
For small to medium sized businesses the major inhibiting factors preventing market research are the cost and the complexity of performing accurate and representative research.
Often, businesses do not know where to start and they find it difficult to translate the results of the market research into practical initiatives that will improve the business.
Topline Customer Feedback Surveys
Topline provides professional Customer Feedback Surveys that are:
- Low cost
It allows businesses to be more competitive in the market and increase sales revenue. It is common to increase sales by up to 10% by implementing simple professional customer feedback surveys.
Topline has created a new customer feedback research program for small to medium sized businesses that provides most of the benefits of typical market research programs for a small fraction of the cost.
The Topline program typically provides more than 80% of the benefits of complex market research programs but costs less than 20% of the normal cost.
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Other benefits include:
- Guides communication with current and potential customers
- Helps identify opportunities in the marketplace
- Minimises business risk
- Measures business reputation
- Uncovers and identifies potential problems
- Assists planning
- Identifies trends
- Determines your market positioning
- Identifies market needs