How Market Research Can Help Your Business

Posted by m4bmarketing under Marketing
From http://www.m4bmarketing.com 5308 days ago
Made Hot by: psprofess on October 12, 2009 1:42 pm

It seems with market research is not perhaps used often enough by us in small businesses. Market research can help you make better business decisions and it can provide you with new or better ideas.

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Comments

Written by ShawnHessinger
5306 days ago

Susan,

I've always liked bootstrap startup advocate Greg Gianforte's concept of sales as a form of market research...and what a time saver! When launching his company RightNow Technologies, Greg reportedly cold called customer service managers with an idea for a new piece of software that automatically responded to customer queries then, if they said they didn't want it, he asked them why and added whatever extra functions they wanted to his list of features and built them into his final product. The story of Gianforte's startup adventure can be found by searching "Greg Gianforte Inc.com Start with Nothing".

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Written by m4bmarketing
5306 days ago

The interesting thing is that he had the idea, fine tuned it with customers and took the assumptions out of the equation. Also what we sometimes forget to to proactively get regular feedback from customers by staying in touch.

The only word of caution is that it is important not to just take what your customers say literally as it can sometimes be misleading. One way around this is to do what he did and ask why, what reasons etc to gain deeper insights.

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