There’s no denying that market research is a valuable tool. The data gathered from mobile surveys, focus groups, and concept tests can help you make informed decisions about everything from your business marketing campaigns to whether your new product is ready to launch or needs tweaking. Yet, some business owners are hesitant about conducting consumer research because there are some unfortunate misconceptions about the industry. Here are five common myths about market research, and why your business should be doing it anyway.
How well do you know your competitors? Whether you manage a restaurant in your local community or run a large e-commerce site, one thing is for certain: there’s another company out there vying for your customers’ attention. Don’t get me wrong, a little competition is always a good thing. It helps you stay on your toes and ensures that you’re constantly striving to improve your company’s level of service. But there’s also nothing wrong with wanting to be the best company in your industry! If you’re interested in staying ahead of the game with competitors, here are a few ways market research can help. Continue reading
If you’ve been following the news lately, you’ve undoubtedly heard about the recent major data breaches at Michaels, Neiman Marcus, and Target that have rocked the retail world. Arguably the most publicized and far-reaching incident was the one affecting up to 110 million Target customers. It goes without saying that these companies have not escaped unscathed. A recent blog post on Target’s press page indicates that sales for the fourth quarter of 2013 were down 2.5%, and the fallout is expected to continue into this year. Market research is a useful tool for businesses rebuilding their image. Companies facing any kind of brand repair issue should ask these four key questions: Continue reading
Have you always loved cooking and dreamed of opening your own restaurant one day? Perhaps you’ve reached a point in your life where it’s a good time time to make those dreams a reality. One word of caution: the restaurant business is not for the faint of heart. There’s a fair amount of risk associated with opening a new eatery and the hours are long, especially when you’re just starting out. But it can be immensely rewarding for entrepreneurs who are truly passionate about the industry. If you’re thinking about opening a restaurant in the near future, market research can help you increase your chances of success. Here are three strategies for using market research to support your new business venture. Continue reading
Are you ready to take your business to the next level? This could be your year! Whether you’re interested in launching a new product line that targets your current audience, improving your customer service, or expanding into a new market, consumer research can help you build a strong foundation for achieving your professional goals. Here are three ways market research can help your business succeed in 2014. Continue reading
As a business owner, you understand the importance of creating a work environment that encourages productivity. I recently wrote about how businesses can spot inefficient processes that could be affecting productivity through conducting employee and customer surveys. But what if the core issue isn’t with the processes in place, but the team? This is a sticky subject for many business owners, but one that’s important to address. After all, strong teams are the backbone of strong businesses. Here are two different ways you can better manage teams and track projects. Continue reading
In the fast-moving world of public relations, deadlines are typically tight. Clients are constantly seeking insightful, fact-based information to help guide their business decisions. Traditional data collection processes tend to be time consuming, which can be a challenge if a customer needs immediate feedback about products or services they offer, or support for an upcoming launch. Research processes must move at the speed of customer needs.
A quick Google search for ‘small business cloud provider’ yields thousands of results. The abundance of options may be helpful for small business owners who want to save money and grow their business by moving over to the cloud. But what happens if you’re in the business of cloud computing? The industry boom has made it increasingly difficult for cloud providers to stand out from their competitors and identify their company’s unique selling proposition. It’s no longer enough to showcase your business’s enhanced security and 24/7 mobile access. While these features are obviously important, they are also offered by almost every company out there. Continue reading
Many marketers are focused today on developing stronger content strategies for their websites. Inbound marketing, or using tools such as blogs and social media, helps attract new customers. A fundamental component of a good inbound marketing strategy is understanding your audience. Market research, especially mobile surveys, can help you get a better handle on what content performs well with your audience. Here are some ideas to get you started. Continue reading
Do you have a great idea for a new business? Maybe you already know what products and services you’d like to offer and you’ve spent significant time thinking about your brand. Or perhaps you are finally considering taking the next step after years of putting off your dreams. No matter what stage you are in with regards to starting your business, there are a few critical questions that you need to answer before you hit the ground running. Conducting a market research campaign will help you uncover the answers to these five questions and increase your likelihood of success in your new venture! Continue reading