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How To Increase Your Conversions By Asking Good Survey Questions

Businessman holding digital tablet with questionmarkYou might have built up a healthy list of customers or you may be  you have a growing list of email subscribers that are yet to convert to paying customer. So what types of questions should you be putting to these groups to help increase conversions?

“We have two ears and one mouth so we can listen twice as much as you speak”. This quote from Stoic philosopher Epictetus has always stuck with me. It is a powerful reminder for the need to listen to what our customers want. Rather than just assuming we know the answers and telling them what they want we should instead ask questions and listen to their responses. [Read more…]

Overcoming the Challenges that Come with Conducting Online Surveys

Conducting Online SurveysSetting up your online survey and collecting data seems easy enough, right? This can be true with an increasing amount of online survey tools at your disposal. Software like SurveyMonkey and DataCracker have taken the pain out of data collection and analysis. Although it is simple enough to create some survey questions and ask people to complete a survey there are also some hidden challenges that need to be overcome.

How do you attract meaningful and honest responses? Have you considered the way that your questions will be interpreted? Have you thought about the problem of predicting behaviors? These are just a few of the challenges that you will need to consider if you intend to uncover real insights that you can use. [Read more…]

How Many False Discoveries Have You Made? Putting Rigor Into Stat Testing

How Many False Discoveries Have You Made? Putting Rigor Into Stat TestingIf you look hard enough, surveys are filled with “insights”. There are always differences that could be interesting.  Men may like your product more than women.  Older people may buy your product less frequently.  Awareness may lift when you rejig your website.

The challenge with analyzing surveys is that many things that look like insights are probably wrong.  Statistical testing has been developed for just this problem.  The purpose of a “stat test” is to work out if a result in a survey that seems to be interesting is likely to be a one-off fluke, or, is a true insight. [Read more…]

Show Me The Money: The Secrets Of Getting Responses To Your Online Survey

If you’re contemplating sending a survey to your existing or prospective customers chances are you’ll be sending it via email. The act of creating the online survey itself has been made relatively easy using tools like SurveyMonkey and SurveyGizmo. The hard part is getting people to respond to your email survey request. [Read more…]

Clouds with Silver Lining: Freemium Text Analytics

Tom CruiseWorking out how to analyse text data is one of the most difficult problems in data analysis.  To get your head around how difficult it is, look at the table below.  This shows the answers of 20 people to the question “What do you dislike about Tom Cruise?” [Read more…]

They Say “Know Your Target Market”, but Which Target Market? (Market Segmentation)

Market segmentation with DataCracker

“Know your target market” is one of the mantras of modern business.  It is shorthand for saying that its a good idea to design your product and communications so that they can be found by, and appeal to, the customers that you think are the best prospects.

If you are an established product working out your target market can be as simple as profiling your customers and can be done using predictive modeling.  However, if you have a new product, or, are struggling and suspect you are targeting the wrong target market, you need to segment your market prior to deciding who to target.

Market segmentation is the term that marketers use for breaking a market up into parts and developing different strategies for the different segments.  Almost all businesses segment their markets.  Nevertheless, there are two quite different logics of segmentation and it is important to have a clear view of which you are trying to employ. [Read more…]

Implementing the 80:20 Rule with Predictive Modeling

80:20 rule, predictive modelingIt has lots of names.  The 80:20 rule.  The pareto principle.  HVC.  Power Laws.  Zipf laws.  Whatever we call it, the idea is that around 20% of our potential customers will account for 80% of our upside.  While the numbers can move around a bit, this basic idea applies in all aspects of customer management.  It applies among your customers: a small proportion of your customers will provide most of your profit.  It also applies among your prospects: a small proportion of the prospects have the potential to deliver much more profit than the rest.

If the 80:20 rule describes your market, how can you leverage it?  Fortunately, it is pretty straightforward! [Read more…]

Using Market Research: How To Analyze Survey Data Test and Refine Your Business Idea

shoppingBefore spending thousands of dollars on developing a product and committing to months of exhaustive customer acquisition strategies it is worthwhile hedging your bets and learning how how to analyze survey data , use basic market research to test and refine your idea. A useful strategy to implement at the idea conception stage is concept testing. [Read more…]

Introducing DataCracker

Data analysis software that everyone can use.

DataCracker is a new web-based survey analysis tool that makes it easy for anyone to find and share insights from their surveys.

DataCracker was built on the idea of democratizing data analysis. We set out to build data analysis software that everyone can use.

There are many excellent online tools for collecting survey data such as Survey Monkey and Survey Gizmo but they lack the powerful statistical testing, segmentation and predictive modelling tools found in DataCracker.

At the other end of the spectrum there are statistical programs like SPSS and Wincross. These programs are very powerful but they are overly difficult to use. Most time-conscious professionals and entrepreneurs do not specialise in one field like market research. It is not feasible to pay for and learn to use software like this for a one-time research project. DataCracker is the easy solution to finding insights from your survey data.

You can sign up or learn more about DataCracker here.