You post your reviews and opinions on a survey form or participate in a focus group discussion. You share your thoughts, usage history, and experience with a product with the brand. And in return, you get some reward in the form of a coupon, PayPal credit, or cash from the market research agency you associate with.

What if you mentioned only the good points in a product satisfaction survey and forgot to highlight the flaws? Suppose no one on the panel sheds light on an unexplored issue you only know about. Then, the product’s drawback still exists in the market. And it might eventually explode as a major problem.

That’s why your honest and conscious opinions play a huge role, and the art of crafting effective responses is crucial. This blog post explains how, as a panel member, your opinions are vital and why you should understand the value of your opinions.

Why Market Research Matters

Brands delve deep into innovative ideas, design the concept, and launch their product. But this journey takes a long time from idea conception to market launch and in between several other phases. For each of these to go smoothly, brands need opinions from their (future) users.

So, in partnership with a market research agency, brands conduct studies to improve their existing products and services and to make their new offerings competitive, saleable, and unique.

To Face the Competitive Market

Suppose a brand wants to launch recruitment services, which is a highly competitive market. To achieve success, they study the market and learn about the gaps in the recruitment domain. So, they survey various employers, hiring managers, HRs, and employees to understand what both sides need.

Accordingly, they design their services and try to include most of the requirements in their offerings. This also covers how they design their websites and position themselves on social media and the market.

Read how users like you helped us conduct a health and fitness brand survey.

To Establish the Missing Benchmark

Similarly, if a company is designing an innovative product, they already know what the market is lacking from their studies. They might study the audience for pricing and explore the deeper requirements as the idea is new and doesn’t have a benchmark.

To Refine the Existing

A brand seeks opinions from its users to understand what they need and want in the existing products. For instance, cameras in smartphones evolve every year. And the brands keep enhancing them and offering new features to hook the wider audience and keep the old customers loyal.

During all these stages, market research with users comes into play.

Why Your Voice and Opinions Matter

For all the market research intents mentioned above, you and your opinions matter the most. You help a brand chisel out a product to make its features unique and useful within the affordability range.

Brands look for panel members who are either their customers or potential customers. They reach out to them and conduct surveys to seek their thoughts on their products and learn what users need, what they appreciate in a product, and what they expect to change. Such market research also helps them analyze the gaps in the market and the price range their product should fall into for the target consumers.

Whether a product is still in the design phase or has already launched, customers’ reflections and requirements help companies shape their offerings.

By Swaying The Purchase Decisions

Your opinions—whether selections on a product satisfaction survey form, comments on social media posts, or product reviews on eBay and Amazon—can make or break a brand or a product. No, this isn’t an exaggeration but a truth.

Imagine this. Out of 50 mixed reviews, one completely negative review for a product is sufficient to pull down a product’s rating on the review websites and marketplace. It’s sufficient to sway a determined buyer to shift their decision from buying to discarding the product.

That’s how important your opinions are. Not just to brands but also to fellow users.

By Offering Data-Driven Insights

Most companies collect deeper user sentiments through a consumer insights survey with qualitative feedback. Such studies help them collect data on what went wrong and what worked well for you and other users. With qualitative feedback analysis, they derive solutions and make bigger business decisions.

For Marketing Plans

Sometimes, brands need your thoughts on marketing. For A/B testing their products, they conduct live surveys in malls and outlets by observing users’ responses to packaging and first impressions of the products.

It might also happen that a product exists in the market. Still, with the lack of or inapt marketing, users don’t even know about it. In such cases, as a user, you can help them by mentioning how you learned about the product, where you bought it from, and what requirements it fulfills. All such inputs help a company chalk out its marketing strategies.

For Redesigning and Relaunching

A product might be designed for one need. But it might have another scope in the market. Sometimes, your input helps a brand learn what a product can serve better. For instance, the mobile phone was launched with the intent of connecting people. Eventually, it evolved to serve as a clock, the weather guy, a map, a camera, and even the tiny bank in your pocket.

How Opinionest Helps You Share Your Opinions

Opinionest, one of the best survey programming companies, works with several companies in healthcare, automobile, and IT. When you join our panel as a member, your data will stay secure, and your opinions will reach out wider. You get a chance to monetize your sentiments about products and brands by filling out surveys of your interest. So, why wait? Join Opinionest now.