Market research – I’m referring to primary market research — takes time and energy and sometimes money. But the results are amazing and don’t cost nearly as much as the time, energy and money you will waste by NOT doing it. When you ask open-ended questions to your customers, the responses you get will help you cut through the clutter and develop a communication that speaks directly to the audience you want to sell to (or whatever your goal is with that audience).
And this is where you, as a small business, have it over the big guys. Large companies are so invested in a point-of-view (usually management’s point-of-view, not that of their customers) that they can’t make an adjustment to respond to the information in front of them. Imagine being at the helm of a huge cargo ship and having to make a u-turn in a space as wide as 42nd St. Not only is it not easy, it’s almost not do-able. So when situations come up that require a quick response to get to the market, the big firms are basically out of luck. Which leaves lots of room for you … if you’ve done your research properly.
Check out Isaiah Adams’ post and how research can help you … and hurt you if you’re not listening to your audience.