This blog aims to share and stimulate dialogue around ideas for small business development and growth.
There has always been some uncomfortable feeling around market research. Apart from quantifying and qualifying it, the results are always a little more subjective than researchers would lead you to believe. Market research only gives you a measure on how people are feeling today, not several years down the road. It provides some insight but not foresight.
Asking people in the street or over the telephone what they think about you doesn’t give you the full picture. How many times have you given a quick answer to a survey question, even when you know the supplier, just to get through it as quickly as possible? How many times have you thought, what a daft question to ask? And how many times have you refused to complete a questionnaire because you don’t have enough time or actually can’t be bothered?
Anyone can go out and ask the same questions and get pretty much the same answers and where exactly does that leave you? Market research is important but if you are going to do it, do it properly and where any research activity is going to add value today as well as tomorrow.
Real insight and foresight comes from building a community around your products and services. It’s far better to have a group of people you survey on a regular basis who have volunteered, than to press gang someone for 15 minutes. Don’t survey 300 people who are not interested in engaging with you but those 30 who really understand and buy into what you do. That way you are in a better position to lead a set of customers towards an abundance of influence on both sides.