Intelligence gathering and market/marketing research

The Chartered Institute of Marketing defines research as:

“The means used by those who provide goods and services to keep themselves in touch with the needs and wants of those who buy and use those goods and services… It is basically a fact-finding activity and services management by decreasing the field of uncertainty within which often vital business decisions are taken.”

Phew!

So let’s look at research in the light of investment for future development rather than yet another expense.

Why not start by using it to profile your existing customers:

• Group them into Best, Average and Worst
• Identify what traits characterise the three categories
• Discover whether it’s possible to raise a Worst to Average or an Average to Best

Then take it further and and conduct a Customer Satisfaction survey. Ascertain:

• What your customers like best about your products, services, or solutions
• How they could possibly be improved
• Whether or not they would recommend you
• And why

If your company is any good at what it does you should soon have at least a handful of bang up to date testimonials that you can use to:

• Independently proclaim the benefits of a particular product or service to an existing customer who who isn’t currently using that product or service
• Vouch for your company when dealing with a potential customer

Taken from training material originally developed by Linda Mattacks