Discovery Survey Template Overview

A Discovery Survey is an efficient way to learn more about your market.

We recommend using Discovery Survey if you want to:

  • Learn more about your existing customers
  • Verify that your existing product fits within your market
  • Validate a new product idea
  • Conduct market research in a new industry

Once you choose the Discovery Survey Template, these elements will be automatically added to your builder.

The Single Most Important Question (SMIQ):
  • The SMIQ is your main tool for extracting market data. Try to frame the question in a way that asks about a challenge or frustration people have experienced before: "When it comes to [X], what is the single biggest challenge, frustration or problem that you’ve been struggling with?" (For X, insert the market OR product you’re trying to learn more about.) What does your service or product solve or help with? That can be your X.
  • The SMIQ is a long form text element which allows for open ended responses. The question included in this template is structured so that you only need to replace the text inside the brackets. This field is mandatory, so text will need to be included to move on to the next question.

Example: Business coaching company "ABC Coaching Services Inc." specializes in helping C-level executives reach peak performance. ABC Coaching Services would use the following SMIQ: "When it comes to reaching your peak performance as an executive, what is the single biggest challenge, frustration or problem that you’ve been struggling with?"
Pro-tip: Allow enough space for the answer input field (3 or more lines) so your prospects don't feel restricted in their answer length. The goal is to get them to answer the question but also provide rich, meaningful feedback.

Demographic question:
  • The Demographic Question is what you use to gather the information that’s going to help you hone in on your prospective customers. You might ask them to provide things like age range or gender. If used in a B2B context, you could request information on the size of the business or number of employees. Make sure the answers are easy to choose, yet provide you with the most meaningful data to use in your analysis. In order for this to work perfectly, answers must be mutually exclusive (like gender, age range, revenue made last year).
  • The demographic question is a "radio button" element where only one answer can be selected. The question included is an age range question.  This can easily be replaced with a different demographic question by editing the text within the brackets for both the question and the answer options.

Example: ABC Coaching Services wants to better understand who their potential customers are in order to customize their service offering and launch a new segmented marketing campaign. The Demographic Question uses age ranges to put SMIQ answers in useful context, so upcoming marketing campaigns and product offerings can be customized by age range.

The Demographic Question becomes "Which of the following best describes your age?" with the following answer options. Notice how non-threatening they are:
- I'm in my 20's
- I'm in my 30's
- I'm in my 40's
- I'm in my 50's  
- I'm in my 60's

Pro-tip: There can be more than one Demographic Question in the Discovery Survey (you might want to collect information on gender or last-year revenue range too). Feel free to add another Demographic Question to the survey. However, avoid adding too many questions because the more questions you have, the more people drop off without completing your survey.

Product Demand Question:
  • The purpose of the Product Demand Question is to help you learn what products your market might be interested in, either to find new opportunities or discover gaps in your existing product or service offering. Use it to see what new products you might consider offering.
  • The product demand question is also a "Radio button" element where only one answer can be selected. The question included is a future product FORMAT question and can also be customized by editing the text within the brackets to fit your needs.

Example: ABC Coaching Services want to use the Product Demand Question to get more clarity around the format of their future product idea because they are unsure what their market will be likely to purchase.

Their Product Demand Question is:
"If we were to create a paid program that helps you overcome your specific Peak Performance challenges (and you had to choose just one), which of the following are you most likely to have signed up for, if it was already available?”
Here are the following options:
- A physical book sent in the mail
- An online course
- A live workshop event
- Personalized one-on-one coaching
- Honestly, none of the above

Alternative variation:
As well as understanding what format your product needs to take, as an alternative, you can also use the Product Demand Question to identify new product ideas worth pursuing.
For example, if ABC Coaching Services wanted to expand their product offering and find out what percentage of the market might be interested in their new coaching programs, their Product Demand Question could be as follows:

"If we were to create a paid program on one of the following topics (and you had to choose just one), which of the following are you most likely to have signed up for if it was already available?"
- Efficient delegation without hiring more staff
- Get 500% more done by focusing on key 5%  
- Run your meetings - stop meetings running you
- Company culture: rebuild to re-bloom
- Honestly, none of the above interests me enough to sign up.

Pro-tip: The last option here is used to validate your options against no desire to purchase at all. Not having it will invalidate your data and you will not be able to measure the market response to your product ideas at all.

Contact Information Question:
  • The Contact Information Question gathers the name, email and phone information of your Survey Takers which are optional for them to answer. Note: The optional phone number field gives you the opportunity to potentially call people you want to interview in person in an effort to gain more in-depth information regarding their responses.
  • The contact information screen  includes the name, email and phone information, which are optional questions for Survey Takers to answer. The optional phone number field, when completed, indicates a higher level of responsiveness for those survey takers and bucket.io will automatically take that into account when calculating the value of the responses in your reporting.

The thank you page:
Thanks your survey taker and lets them know they’ve completed the survey successfully.