The importance of Market Research

Whether you run a hairdressing salon or a garage, knowing your customers is vital to the life of your business. Learning about them can help you target your marketing and ensure you are providing the product or service they will buy. Market Reseach doesn’t have to expensive and the money spent can be repaid several times over.

• When you know who wants your product/service you can specifically target them rather than waste money trying to reach everyone. Save money and increase sales
• Research techniques such as interviews and questionnaires will help you find out what your customers want and what they may be interested in buying in the future. You save money by not bringing in products that won’t sell
• Gain as much information from your customers as you can. What are their favourite products, what do they like or dislike about your offering? Find out their ages, gender, dates of birth etc. This way you can target specific messages to them via email or direct mail
• Collect information about the reasons your customers buy certain products above others. Knowing why someone buys something means you will know how and what to sell
• Finally, do they buy particular products at certain times of year. You may find you can introduce new products to coincide with buying patterns.

For help contact DLH Marketing. Text your name or call 07790 012893. email david@dlhmarketing.co.uk

One of the organisations I recently starting working with has happily been producing communications and marketing material about which feedback suggested was doing a good job. The problem was that no-one had ever really analysed where the feedback was coming from.

As part of a funding audit, I prepared and conducted some market research amongst all the groups that could or did utilise the service and the results were very illuminating. You see, the feedback had always came from larger groups who often used the service and consequently there were more involved and their opinions were  regularly taken on board.

My client assumed that everyone felt the same way.

The research however, showed that there was a large group of people who felt totally disenfranchised and new little about what was going on. We discovered that there  was a growing feeling of resentmant amongst the very groups my client was supposed to support.

Needless to say that this has resulted in a complete overhall of the communication methods and processes ensuring that everyone has a chance to be heard.

This example is based around a support service but applies to any business and organisation. Stand back and ask yourself if you actually know what your customer wants or are you really only assuming you know. Simple market research can make a tremendous difference in helping you get more business.

Get in touch by calling or texting your name to 07790 012893

Alternatively email me david@dlhmarketing.co.uk