For decades, surveys have been a fixture of B2B companies’ thought leadership and content marketing. Survey data and insights can be the source material for a range of thought leadership, from annual flagship reports to pulse surveys and longitudinal studies, to name just some of the potential content.
Companies turn to surveys in large part because administering or investing in one, and analyzing the results, yields proprietary information that strengthens their position with clients, the media, and the business world at large. Or at least it should.
But are companies getting as much out of their investment in survey research as they could? In our experience, when done well, the content developed from the findings of a survey is a powerful differentiator. But survey research can be expensive and time-consuming. And for companies that may not have an established research arm, process, or a team skilled in conducting surveys, attempting to compete can be a challenge. Approaching things a little differently, though, can help them reap far more rewards.
Retooling the traditional approach to surveys
Although surveys can check a lot of boxes, they also typically require a lot of energy, resources, and expertise. For example, to develop an insightful survey, companies need subject matter experts to shape its focus as well as the knowledge to structure questions in a way that yields proper insights.
And that’s before companies identify and work with an external vendor to field the survey. Gaining access to the right kinds of respondents can be expensive—as much as six figures if you’re aiming to hear from hundreds of C-suite respondents. Crunching the data to extract the most notable findings also isn’t for the faint of heart.
Translating the data into a compelling narrative is critical but comes with its own challenges. To truly bring value, companies need to go beyond a readout of survey data to provide the “So what?” Think of it this way: If your company is a concert hall, the survey is the searchlight and marquee that draw people’s attention and get them in the door. Once they’re inside, you need to give them a reason to stay (and hopefully come back). Those are actionable recommendations that showcase your company’s acumen on a given topic. And that requires the engagement of senior leaders and subject matter experts.
Once companies have a piece worthy of publication, they need to ensure it actually reaches their target audiences. As we’ve noted before, many companies fall short on this step: Simply posting a report to your website won’t get the job done. An effective, extended campaign is the way to go but requires action on several fronts:
- Up-front planning and an articulation of objectives and audiences, along with metrics to gauge progress and success
- Creation of content tailored to these audiences and their preferred channels, developed in a more campaign-oriented fashion—helping connect dots and provide more interesting ways into the insights
- Activation of internal ambassadors to maximize reach
Such efforts are crucial to extending the shelf life of survey-based content and improving the odds of cutting through clutter.
Maximizing ROI from surveys
It takes a lot of coordination and effort to get the most out of investments in surveys. Companies that fall short in any of the areas mentioned above can severely erode their ROI.
To find where companies are excelling and also struggling, we undertook a joint research project with TrueDot, an online survey platform, and J&L Communications, a marketing and communications consultancy. We fielded a survey of marketing and comms professionals and drew on our firsthand experience in working with clients to compile a list of best practices and recommendations.
One of our initial findings is that respondents are doing a lot of surveys, with half doing six or more in a year. When asked if they’re satisfied with the ROI on their surveys, though, half of respondents said, “Not sure.” For the amount of time and money they’re investing, we are aiming to help them get to “Yes.”
At our upcoming live virtual event on June 17, we will share this knowledge in a discussion with our survey coauthors.
Our goal is to help companies increase the ROI on their survey investments by making the process more efficient, increasing the quality of the initial output, and extending the duration and reach of the resulting integrated content campaigns. We hope you can join us.