Step away for a moment from the idea that just because you know your products and services, you’re qualified to go out and tell the people what they want to hear. How can you when you don’t know what they want to hear? You only know what you would want to hear if you were in their shoes! Market research is absolutely vital if you’re going to maximize your ROI.
The Research Ruckus
Are you making the most of your market research?
Yesterday I had the opportunity to attend “Unveiling Market Research’s Future Online”, a virtual event hosted by the American Marketing Association. I have to take a moment to say, no matter where you are in the business world or what role you play in your company, if you ever get a chance to attend an AMA event, go for it. They host numerous events each year, so there’s bound to be one that appeals to you! Click here to see their full calendar of events.
In my oh-so-unexpert opinion, the most fascinating part of yesterday’s presentation was the Tweet Off between well-known Twitterers from around the country. Market Research was the topic of the day, and, of course, the significance of market research and what it can do for your company’s ROI. Let me ask you this-what do you think market research can do for your company?
The answer to that question is the springboard for what I like to call “The Research Ruckus”. There’s a tremendous amount of conflict out there about investing money and company resources to do market research when it’s such a strictly intellectual pursuit. What can market research really do for your company?
The Research Resolution
If you always do what you’ve always done, you’ll always get what you’ve always got. You know that. I know that. But how are you going to know what direction to drive your company in if you don’t do a little market research to back it up?
It’s easy to get so busy being busy that you forget to step back and take the time to connect with your customers. You figure that since everything’s rolling along smoothly it’s going to continue to do so. Unfortunately, when you do that you cut yourself off from the greatest asset your company can possibly have-two way communication with the people who keep it afloat! You don’t know what people like an what they don’t, or what they’d like to be getting from your company that they’re not, if you never take the time to figure it out.
Market research can do that for you, helping close the gap and open the door to unparalleled growth for you and your company. What kind of market research is your company doing? Is it enough? What other opportunities are out there waiting?
When you ignore the potential of market research you ignore the golden goose, a mistake no company can truly afford.
What has market research done for your company? Let us know! As always, all comments welcome.