We’ve all cut corners at some point in our lives. Whether its house cleaning or homework, sometimes you just can’t help but take the easy way out. However, this practice is far too prevalent when it comes to the world of marketing. It’s not uncommon to see managers slap together a marketing campaign based solely on hearsay and personal opinion. This phenomenon is especially common in cases when the managers are a part of or used to belong to the targeted consumer group. “Oh I’m a homeowner that’s married with preteen children; I know what these people like.” Its statements like these that oversimplify the marketing task and can set a company on a course to massive failure.
While personal experiences can often aid us in making crucial business decisions, one must be wary not to fall into the “lazy man’s” trap. If you’re finding that most of your marketing strategy cannot be corroborated by solid facts, then there is a strong likelihood that you’re relying extensively on personal opinion. This is a sign that your company requires consumer research before it embarks on an ambitious marketing campaign. A focused market analysis or a customer survey will help you determine what your target audience truly values. In addition, consumer research will provide insight into the customers’ decision making cycle. Without such information your marketing campaign will only rely on guesswork, and we know that you’re too smart to gamble your entire advertising budget on hearsay.
If you are interested in doing some market research, give us a call and we find the right research firm for your needs.