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December 2, 2010

Ask Your Target Market – Get the Answers You Need

Social networking is being used to help people find friends, advertise discounts, and promote their latest projects on the web. Now, thanks to the release of an application called Ask Your Target Market – or AYTM for short – social networking is being used to help companies with market research, too. Instead of paying thousands of dollars to put together focus groups and surveys, AYTM offers a way for companies to get all the information they need right from the web.

The way AYTM goes about gathering its market research data will depend on the type of information your company needs. Define your target market by inputting the personal data of your preferred clientele. WithAYTM, you can select from nine demographic parameters – including gender, age range, income, education, employment status, and geographic location – when choosing the people who will take your survey. Create a title for your survey, select how many responses you’d like to gather, and then start writing the questions you’d like to have answered. AYTM lets you upload an introductory video or commercial as a way to prep respondents on what kind of information you’re looking for. When you’re finished creating your survey and editing your videos, it’s time to checkout. Buy the number of credits necessary to launch your survey, and then sit back and relax as the answers start rolling in.

When a new survey is launched, it’s automatically sent to the members of AYTM’s consumer panel who match your demographic requirements. Within just 24 to 72 hours, you’ll have all the responses you need to get a clearer picture of what your desired consumers think. With that information in hand, it becomes easy for companies to make smart business decisions based on fact and data rather than feeling and emotion.

Practical Uses:

  • Find out what consumers think about your new TV show idea
  • Perfectly time your next product release
  • Make smarter decisions based on information provided by actual consumers
  • Get important marketing questions answered quickly, rather than waiting days or weeks

Insider Tips:

  • Filter survey responses by geographic location
  • The more credits you buy, the more surveys AYTM will send out
  • Charts and graphs are continually updated as new results come in
  • AYTM’s “TrustScoreSM” algorithm evaluates how truthful respondents are being

What we liked:

  • Companies can get marketing questions answered quickly
  • AYTM lessens the need for in-person focus groups
  • Users can get their data crunched and analyzed by AYTM
  • Most users can get all their surveys completed within a 72-hour period

What we didn’t like:

  • Companies in small counties may not be able to get access to consumers in their local area
  • AYTM limits surveys to 25 questions

Alternatives:

Company Info:

Costs:

  • Free surveys for non-profits and startups
  • Surveys start at $29.95 for a three-question survey with 50 respondents

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