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Anatomy of a Business-Building Survey

Here at MarketVolt we recommend surveys to clients all the time. They’re a great way to take the temperature of clients, learn more about prospects and generally get some easy engagement going (ask questions, get results, share/discuss, rinse & repeat). Well I put my money where my mouth was and dropped a survey into my Valentine’s Day message to clients.

Nothing major, just a quick little 11-question piece just checking in to see how things were going to try and identify any nagging problems, look for business opportunity and solicit some easy engagement with clients who might not otherwise reach out.

I sent the email out to 267 clients and got nine respondents – in some circles a 3% response rate could seem pretty paltry – but I wasn’t discouraged and here’s why…nine folks told me enough to make it worth it!

I asked how often my clients were using our system, if they’d used support (many had) and how that went (as we thought, our support team is awesome) and even what types of add-on services they had (or wish they had), their ideas on how we might improve MarketVolt, even if they would be willing to refer us (100% said yes) and if there was anyone top of mind they could introduce us to.

From just nine responses, I learned:

  • There are a few folks I need to reach out to that either haven’t used, or forgot how to use, one of the add-on features in MarketVolt. While that was disappointing to read – it is also a great opportunity to re-engage clients to save a relationship that could sour (I’m paying for something I never even used). That means better customer retention and keeping revenue that might have been lost.
  • Five clients have interest in additional services. That’s five opportunities to strengthen the bond with clients and to increase the revenue we earn from them.
  •  Several things we could do to improve our application. Six folks offered suggestions on things that they would like to see from the software in the future – some ideas that are just over the horizon (further developing our API for greater integration capacities) and other ideas that we hadn’t completely dug into yet (some ideas around scheduling). Several excellent suggestions – all ideas that came from just six people.

I talk a lot about the difference in marketing between hunting and farming. I didn’t have to hunt and chase to get find folks who will give me a referral, stick with us for another year, and increase their contract with us. I planted the seeds with a survey and reaped the harvest with very little time and effort. Farming at its best. 

Speaking of that “paltry” 3% response rate, here’s why it was great – I gained something important from each and every one of them. Be it direct revenue from those wanting to add tools to identifying clients that are having troubles that I can reconnect with and keep happy (retention), even those suggestion that help us to better develop our email software to make existing (and future) clients happier – that 3% response more than paid me back for the time and effort put against building the survey and sending it out.

So how would this play out if I had gotten more responses? How many more add-ons, suggestions or issues might I identify? I’ll have to let you know because I’m going to resend the survey out to everyone who didn’t already take it to see if we can find out…I’ll add an update later and let you know!


 

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