Online Survey Creation and Analysis for Market Research
Executive Summary:
GRASPED Survey Savants is an online market research firm specializing in survey creation, analysis, and reporting. Our aim is to provide our clients with accurate and actionable market insights that will help them make informed business decisions. With our state-of-the-art survey tools and expert analysis, we aim to become the go-to survey provider for businesses of all sizes.
Market Analysis:
The market for online survey creation and analysis is vast, with businesses of all sizes requiring market research insights to make informed decisions. According to a recent report, the global online survey software market is expected to reach $5.3 billion by 2023, growing at a CAGR of 11.25% from 2018 to 2023. This indicates a significant opportunity for GRASPED Survey Savants to establish itself in the market.
Services:
GRASPED Survey Savants provides end-to-end survey creation and analysis services to its clients. Our services include:
- Survey Design: We help our clients design surveys that are tailored to their research objectives.
- Survey Distribution: We distribute surveys to the target audience via email, social media, and other channels.
- Data Collection: We collect and collate data from respondents using our state-of-the-art survey tools.
- Data Analysis: We analyze the data collected from surveys and provide clients with actionable insights.
- Reporting: We provide clients with detailed reports that summarize the findings of the survey.
Marketing Strategy:
GRASPED Survey Savants will use a multi-channel marketing strategy to reach potential clients. We will leverage social media, email marketing, and online advertising to reach our target audience. Additionally, we will establish partnerships with businesses that require our services, such as marketing agencies and research firms.
Revenue Model:
GRASPED Survey Savants will generate revenue through the following channels:
- Subscription-based model: We will offer clients subscription plans that allow them to create and distribute surveys on an ongoing basis.
- Project-based model: For clients who require one-time surveys, we will offer project-based pricing.
- Analysis and Reporting Services: We will offer clients the option to purchase our analysis and reporting services separately.
Financial Projections:
In the first year of operations, we expect to generate revenue of $500,000, with a net profit of $100,000. By the end of the third year, we expect to generate revenue of $2 million, with a net profit of $500,000.
Conclusion:
GRASPED Survey Savants is poised to become a leading provider of online survey creation and analysis services. With a strong focus on customer service, expert analysis, and actionable insights, we are confident of establishing ourselves in the market and generating significant revenue in the coming years.
Target Audiences based on Executive Summary:
- Small business owners: Small business owners often have limited resources and may not have the expertise to conduct market research. GRASPED Survey Savants can provide them with affordable and accurate insights to help them make informed business decisions.
- Non-profit organizations: Non-profit organizations rely heavily on surveys to gather information from their donors, volunteers, and other stakeholders. GRASPED Survey Savants can help them design and analyze surveys to better understand their audience and improve their programs.
- Human resources professionals: HR professionals often use surveys to gather employee feedback and improve their workplace culture. GRASPED Survey Savants can provide them with the tools and expertise to conduct effective surveys and analyze the results to make meaningful changes.
- Marketing agencies: Marketing agencies may need to conduct surveys on behalf of their clients to better understand their target audience. GRASPED Survey Savants can provide them with the tools and expertise to conduct accurate and actionable surveys.
- Academic researchers: Academic researchers often rely on surveys to gather data for their studies. GRASPED Survey Savants can provide them with the tools and expertise to design and analyze surveys to meet their research needs.
- Government agencies: Government agencies often need to conduct surveys to gather information from their citizens. GRASPED Survey Savants can provide them with the tools and expertise to conduct accurate and actionable surveys to inform policies and programs.
- Healthcare providers: Healthcare providers may need to conduct surveys to gather patient feedback on their services. GRASPED Survey Savants can provide them with the tools and expertise to design and analyze surveys to improve patient satisfaction and outcomes.
- Educational institutions: Educational institutions often use surveys to gather student feedback on their programs and services. GRASPED Survey Savants can provide them with the tools and expertise to conduct effective surveys and analyze the results to improve their programs.
- Market research companies: Market research companies may need to outsource survey creation and analysis to a specialized firm like GRASPED Survey Savants to ensure accuracy and actionable insights for their clients.
- Product development teams: Product development teams may need to conduct surveys to gather customer feedback on their products. GRASPED Survey Savants can provide them with the tools and expertise to design and analyze surveys to improve their products and increase customer satisfaction.
So, there you have it, a sample business plan for a business that specializes in online survey creation and analysis for market research.
It is noteworthy that while the specific figures and details may vary depending on individual circumstances, the outlined business model is feasible for success in this industry. Your success will depend on how effectively you position your business in the market.
