Customer Surveys are designed for almost all the stages of product lifecycle. Right from studying the target market to retiring your product, there is a customer survey for almost everything. But these surveys are expensive and often done by companies with deep pockets. When you are starting out with your small business you may not have the kind of resources conduct these surveys but you might have the feel of the market because of your experience. The big question then remains is how to go about your idea. You may have some rocking idea but you may want to validate it before investing your time and money in it.

When you encounter a situation where you do want a feedback on your idea it is always advisable to

1) Think Hard on all scenarios

2) Talk with your potential customers

3) Look for case studies

You need to put your idea into test and you need to do that diligently. But even when you come out with conclusion, no matter positive or negative, there are two common pitfalls which you can encounter

1) Customer many times don’t buy what they like- History is full of cases where customer have shown preference for something but have rejected it after launch. This case becomes more important where complex buying and decisions processes are involved. Additionally, Price remains always an important factor. This essentially represents a willingness on part of customer but the hinges involved are so complex that product never sell through

2) Customer reject idea but the product becomes hit- Your idea may not excite the customer but when it actually starts to provide value it becomes an instant hit. Customer sometimes are so much stuck up with a routine that they cannot visualize the impact it will have in their life. But when the product proves itself, it becomes nothing but an instant hit.

So the Question is à What to do in such Scenarios?

Simple –>Trust Your Instincts and Answer this Simple Question

What Value Your Product Provides and at what Cost ?

Think Google

1) Free Search Engine

2) Help You to navigate complex web

3) Keeps on improving itself with time

Think Apple

1) Excellent Quality

2) Cool to be with

3) Music Store and Fabulous accessories

Both the companies provided Maximum Value at free or affordable cost. And what more, they remained ahead of the curve.

It is Important to weigh value against price. If you are able to answer this question comfortably, the customer surveys are just waste of time and money.

The Two Pitfalls of Customer Surveys are for Real. All it forces you is to go by Your Instincts based on Value and Price.