"He who fails to plan, plans to fail"
When we started on the quest for a diagnosis for my son to understand why his behaviour was different from other children we were met with the response from some people that you shouldn’t give people labels. As I have been segmenting and profiling customers for clients for years, this is rather like... Continue Reading →
It is always worth taking time to think about your customers and collect as much information as you can without harming the customer experience. Here is a good way to structure information so you can understand what you do know and what you need to find out.
A couple of years ago, I (along with Andy Madeley of Swiss Peaks) asked local business in Staffordshire how much they would spend on various elements of the marketing mix if they had a £10,000 budget. The result for market research was around £500 or 0.5% which is probably more realistic for most firms than the 1% of turnover that is often cited.
In fact if you had a budget of £5,000, I would recommend spending £500 on market research and in most cases that figure would not change if your budget was £20,000.
But what does £500 (+VAT) get you these days?
The simple answer is whatever information you need to create an evidence-based marketing strategy or business plan. You can do a lot of this yourself – a good researcher may be quicker in knowing where to find information, but once you have the framework you can…
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Longer post on the various jobs to be done techniques and how these can be used by any company to transform the way they do business.
"I don't know about you, gentlemen, but in Oxford I, at least, am known by my face" C M Bowra The now apochryphal story about legendary scholar Sir Maurice Bowra (CM Bowra) tells us a great deal about how, when you understand the job to be done, you can come up with an improved solution.... Continue Reading →
Whenever you interview people about needs statements or how they would improve a product or service at least one person says something akin to "Cheaper, Better, Faster". Such a statement is rarely possible to turn into any meaningful action because you have to interpret what each of the three words means. You are likely to... Continue Reading →
"Opinion is half way between knowledge and ignorance" Plato There are a number of ways to deal with fake news or alternative facts but the best way is to appreciate real "experts" in journalism and other areas of life. The problem is arguably a bigger problem in the UK than in the US as we... Continue Reading →
In the Grit Report (a report looking at the market research industry) one thing that always catches my eye - it is this table on what makes good research and it rarely changes in the way that skills needs do. To me, conducting the research is all about the basics- bias, sampling, validation etc. It... Continue Reading →
After a short twitter conversation, I was flicking through Tony Ulwick’s “what customer wants” the other day and was reminded of one of a number of reasons why I decided to focus my business on utilising this framework. In a word it can be summed up by one word: “Pushing” Not pushing in terms of... Continue Reading →
Recent research from Crowdfunders shows that in some sense nothing has changed when you are looking to start a business – it is either to put your hand in your own pocket or rely on the banks. This gives the impression to people looking to become a entrepreneur need to be rich or well-connected. Before... Continue Reading →
