5 Ways Online Surveys Can Increase Your Franchise's Revenue

Posted Jul 31, 2015 at 11:25am By Kim Parr

Category: Editorial

In this day and age, franchise owners have a multitude of technology at their fingertips. By taking advantage of one of the many low-cost or free online survey providers available, businesses can use the results to grow and increase sales. Here are five ways online surveys can increase your franchise's revenue.

tablet survey

1. Determining Customer Base
Online surveys can show franchise owners the makeup of their customer base. There is no point offering early bird specials to seniors when the majority of your customers are 24 to 35 years old, for example. By determining who is frequenting your business, you can allocate marketing money more efficiently to capture the target demographic. 

Obviously, not every customer will take the time to fill out a survey, but those who do are invested in your company and want their opinions to count. Make sure data from online surveys is reviewed regularly and that customer suggestions are not ignored. 

2. Repeat Business
When offering online surveys, businesses can include an incentive for customers willing to provide feedback. Offering a discount or free product with a future purchase means repeat sales. While it's always important to bring in new business, it's much easier to keep existing customers happy than to recruit new ones. 

The incentive should offer value to the customer and not be something obscure that doesn't appeal to your target audience. Also, continue to take advantage of technology and make the incentive easy for the customer to redeem. For example, if the offer is for a coupon, allow customers to use a smartphone instead of having to print something at home.

3. Event Feedback
Offering an event to the public can be an expensive endeavor. A smoothly run promotional event can bring in business or drive it away if customers don't perceive value and a high level of service. Online surveys are an easy way for customers to give their opinions on what worked and what didn't work with regards to promotional events. Franchise owners can use this knowledge to be more efficient and better prepared in the future. 

4. Online Surveys Save Time
In business, time is money. Using old-fashioned paper surveys meant that customers had to use their time to fill out a survey and return it to the business, either physically or via snail mail. Then an employee had to take more time to tally results and present the information to the franchise owner. 

The Internet saves employee time and allows the customer to fill out the survey at their convenience, sending it back with one click. Online survey companies can also provide the results in an easy-to-understand platform so they can be applied right away. 

5. Employee Feedback
While most people associate online surveys with customer feedback, they can be a valuable tool for employees as well. Allowing employees to anonymously express opinions gives franchise owners a way to improve relationships and working conditions so employees are as productive as possible. 

When employees don't feel their actions or opinions are valued, it creates little incentive to provide outstanding service. By using online surveys, employers can determine what is important to employees, thereby reducing turnover and creating a more positive workplace. 

Online Surveys Increase Revenue
Conducting online surveys is an economical and efficient way to gather feedback from customers and employees. By using the information to make positive business changes and trigger repeat business, franchise owners keep customers and employees happy, which increases revenue.


About the author:

Kim Parr is a former small business owner who writes about financial and business topics at Eyes on the Dollar.
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