In this present fast-evolving marketplace, businesses increasingly rely on consumer insights toshape their strategies, refine products, and enhance customer experiences. Globally, giants likeCoca-Cola, Netflix, and Procter & Gamble have leveraged survey data to anticipate shifts in consumer behaviour, course-correct failing strategies, and build competitive advantages. InNigeria, where rapid economic,demographic, and digital changes define consumer markets,the importance of this survey data is growing.
What is a Consumer Survey?
A consumer survey is a research method used by businesses and organisations to collect information directly from their customers or target audience. The importance of this survey stems from the fact that it helps businesses make informed decisions by providing insights into market trends, customer satisfaction, and areas of improvement. If you want to stand out in business and make target policies for growth, this piece explores how data-driven insights from consumer surveys have saved businesses from collapse, both
globally and within Nigeria’s dynamic business ecosystem which can guide you on your own path for growth.
Global Success Stories: How Consumer Data Made the Difference for these businesses.
These multi billionaire dollar businesses may sound familiar, but their success wasn’t an easy journey. Despite applying various growth strategies, one of the most important tool applied was the targeted consumer survey.
Let’s hear them out:
Netflix: Transitioning to Streaming with Data
Netflix’s shift from DVD rentals to a subscription-based streaming service was not accidental. Through consumer feedback and viewing behaviour surveys, Netflix discovered an increasing preference for on-demand content over traditional rentals. Today, Netflix is a streaming powerhouse, with survey data continuing to shape decisions on content production, pricing, and customer satisfaction.
Coca-Cola: Responding to the “New Coke” Backlash
In the 1980s, Coca-Cola launched “New Coke,” hoping to revamp its brand. However, surveys
revealed consumers’ emotional attachment to the original formula. Faced with backlash, CocaCola quickly reintroduced the classic product, using survey data to maintain customer trust and loyalty. This pivot not only salvaged the brand’s image but also deepened consumer connections.
Unilever: Refining Product Lines Based on Local Preferences
Unilever utilizes consumer surveys to tailor its products to specific markets. In regions likeIndia and Brazil, feedback revealed preferences for affordable, small-packaged products. This insight drove the company to introduce sachet packaging, which became a key driver of its
success in emerging markets.
Lessons from Nigerian Businesses: The Power of Listening to Customers
Now let’s delve a little closer. These Nigerian businesses have a similar success story after applying the consumer survey. Let’s hear them out too:
1. Jumia: Adapting E-Commerce to Local Realities
Jumia, Africa’s leading e-commerce platform, learned early on that replicating Western ecommerce models would not work. Consumer surveys revealed that trust, payment methods, and delivery were key concerns for Nigerian customers. This feedback led Jumia to introduce cash-on-delivery services and local partnerships, which helped it recover from initial losses
and scale across multiple African markets.
2. Dangote Cement: Tackling Customer Experience Issues
Despite being a market leader, Dangote Cement faced a downturn as customers complained about product quality and distribution issues. Survey insights revealed gaps in supply chains and concerns over adulterated cement. In response, the company revamped its distribution
strategy, improving access and transparency, which restored customer confidence and stabilized its revenue streams.
3. Kudi Bank: Innovating in Digital Financial Services
Kudi, a digital banking platform targeting unbanked populations, faced a rocky launch due to low adoption rates. Survey results revealed that many potential users had poor digital literacy and limited trust in online platforms. The company shifted its strategy by introducing physical agents in rural areas and launching educational campaigns. As trust improved, so did user adoption, allowing Kudi to expand rapidly and gain a foothold in Nigeria’s competitive fintech sector.
Why Consumer Surveys Matter in Business Rescue Strategies
The value consumer survey has to offer to businesses cannot be overemphasized. Consumer surveys provide invaluable insights that can help businesses:
1. Identify Pain Points Early: Understanding customer dissatisfaction can prevent small issues from escalating into crises.
2. Shape Product Development: Feedback on products allows companies to adjust designs, features, or pricing to better suit consumer needs.
3. Refine Marketing Strategies: Surveys help businesses understand consumer behaviour, enabling them to run targeted campaigns.
4. Predict Market Trends: Anticipating future trends through survey insights allows companies to stay ahead of competitors.
The Future of Consumer Survey Data in Nigeria
It is no news that Nigeria is quickly into the fast-paced digital world. With this rapid growth of digital platforms, consumer surveys in Nigeria are shifting from traditional methods to online data collection tools. Social media polls, SMS surveys, and web-based questionnaires are becoming popular, especially among younger demographics. Furthermore, businesses are beginning to integrate survey data with analytics tools like Power BI and SQL, enabling more sophisticated insights. The use of consumer survey data will be essential in sectors such as fintech, e-commerce, and manufacturing, where customer preferences change quickly. Startups and established companies alike are realizing that survival in Nigeria’s competitive landscape requires staying
connected to their customers. Thus, having a well-structured consumer survey that aims to answer the relevant questions about consumer preferences and purchasing style is important both for new and existing businesses. It is important that you get connected to consultants who can deliver these wellstructured surveys. Reach out to www.seedbuilders.com to get your well-structured and targeted surveys to get your businesses to the next level!
As businesses globally and locally embrace data-driven decisions, those that leverage consumer insights will not only survive but lead in the future.
