Role of survey firms and data in times of COVID-19 crisis

The global pandemic caused by the novel corona virus has had a severe impact on
the global economy. The Indian GDP as predicted by IMF is expected to grow at
1.9% for FY21 which a stark decrease from 5.8% as predicted earlier. It is expected
that this pandemic will significantly affect the supply-chains, consumption habits,
global dependence on countries, social behaviour with impact on lifestyles, markets
and economy.

A survey is a data collection tool to gather information, consumer preferences,

behaviour pertaining to a product or service.
These unprecedented times have led to numerous changes in the lifestyle of all the
people around the world. Corona virus presents a number of challenges to brands
and policy makers. The operating procedures of companies, buying pattern, product
preferences have changed. In order to further develop the product, increase their
usage or develop new products surveys have to be performed to get desired results.
This is where survey and data companies come in the picture. The survey
companies can create: -
 Market Research Survey:
o Help determine how, where and what types of products are being
purchased
o Help understand consumer behaviour, buying journey and post
purchase behaviour
o Will be a major tool to identify needs and then go for product
development
o Help identify the success of a campaign

 Customer Satisfaction Survey:
o Help companies and organizations to measure quickly and accurately
the customer satisfaction levels
o This will help reduce will churn and increase customer lifetime value as
company can change product accordingly.
o Measuring the satisfaction and tackling any negative input, will reduce
the voicing of negative feedback in more public spaces like social
media channels
 Lead Generation Survey:
o Help generate leads and create a database in these tough times
o Help understand a basic preference for further study
 Employee and Job Satisfaction Survey
o Help determine the stress level of employees
o Help identify the employee satisfaction
o Can help improve employee efficiency by identifying the pain areas
o Can get clear & direct insights into how a colleague feels and operates
within their team.
o Data will help visualize where additional training or guidance is needed.
 Survey Pertaining to Training and its Evaluation:
o The new operating procedures would require change in training
methods which can be identified and designed using the best practices
 o This will help improve training aspects, ensure the quality of training
and evaluate trainers as well as trainees
 Brand Awareness Survey:
o Helps evaluate strategies and marketing of companies
o Spot new trends and business opportunities
o Helps identify brand perception

So, a survey firm would be something that would be in high demand performing
various types of surveys to help the clients in these tough times and create a better
living world.