Do mailing lists work for market research?

Question

I am considering opening a new business and to determine whether there is a need for such business. I was planning on sending out surveys to the families in the geographical area where the business will be. I looked into mailing lists and thay are a bit expensive, the question is: are they worth your investment? I would send out 5000 surveys, would people email the reply back if I offer an insentive (discount) and a return envelope? Has anyone done this before and worked? I am trying to get an idea from my community as to whether my business could be profitable. Thank you to everyone for your answers.

Answer 1

Think of it this way, would you take time out your already busy schedule to fill out a survey that is going to maybe get you a discount if this location opens? And also if you dont even need anything that this place is going to offer than what would be the point of the discount wouldn't affect you in the first place. Not meaning to be harsh but mailing lists can really be a waste of time and money. The probabilities that you would have a majority of the people reply back are so slim, that it would be a waste of your money. Instead try hosting some type of event, or getting permission to set up a table or booth at a shopping outlet or mall and just get people to fill out your survey. This way people are forced to acknowledge you and they get automatically rewarded. Good Luck!

Answer 2

It might take less money to do a focus group--advertise with flyers in local stores and wherever you can post. You can offer snacks and beverage. I would save the 5,000 mailing to announce the opening of your business!

Answer 3

I would research your type of business anywhere it currently exists.

What are those companies doing in their advertsing?...get on their mailing lists so you can receive any mailers they put out. Ask for any materials they have available.

contact them as if to be a customer....ask questions, let them tell you about their services...from this you can learn what is working for them....you may even find things that havn't occurred to you yet.