Who has ever surveyed their Potential Customers for their Market Research?

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M

Marketester

  • #1
    Hi everyone,

    We are a market research company and we are curious to know how many entrepreneurs and startups have done some proper quantitative market research before launching their product/service, while developing their business idea, etc?

    Also, what their experience is with this kind of market research? What value does it have to you?

    The reason for this enquiry is that we are aware that despite the benefits of conducting quantitative market research, start-ups and small businesses rarely engage in such information gathering activities. Some entrepreneurs see quantitative market research as an activity for larger firms due to the commissioning costs of external company who conduct the research. This however is a misconception. Quantitative market research can be carried out to the same professional level without incurring huge costs. Due to technological developments, market research can now be conducted online with companies having their own panels, allowing companies to provide affordable online quantitative market research for start-ups for all budgets.

    We therefore wanted to find out from the you; the entrepreneurs and start-ups, to see what you all thought.

    We look forward to reading and responding to your replies.
     
    J

    JandJC

    Free Member
    Feb 10, 2012
    499
    61
    City of London
  • #3
    Before I went into business I had the knowledge of how imperative market research is; spending 5 years conducting Social and Economic Research.

    Possessing the knowledge that our Financial Institutions contact their client base and collecting values and opinions which focused on existing and new products was actually a benefit for further customer engagement and brand development was a natural route for our business to act upon.

    Due to the then nature of our business idea - it was fundamental to undertake research as we were dealing with people who experienced accessibility issues; for our services to work quantitative research was paramount.
     
    Upvote 0
    Ammon

    Ammon

    Free Member
    Jun 14, 2013
    25
    5
    Newhaven, Sussex
  • #4
    Having worked with a Market Research company (Skopos) myself, helping them transition from a German company to a multinational back in 2001, I do understand your pains and frustrations.

    The problem is that companies often fail to appreciate how much dilligence and effort goes into proper selection of the sample to ensure it is representative. Instead, they only see how many 'Free Polls' are online and think that is much the same thing.

    The answer is to do what other marketing companies and services do - devote some of your work into generating business for yourself.

    Here's the question to ask yourself, right now, today: "What studies have we published this week that 'wow' entrepreneurs and SMEs we'd like to attract?"

    You wouldn't have an SEO company that didn't publish its own SEO articles and work to attract customers and show how effective they are. You wouldn't hire a Content Creation agency that didn't publish plenty of free, great content to showcase their excellence. Why would you expect to be different?

    If you want those companies to value you, you start by showing them that value for free. Use your expertise to create studies they will want to read, link to, and bookmark, and they'll see the value.
     
    Last edited:
    Upvote 0
    XLIN.Ltd

    XLIN.Ltd

    Free Member
    Apr 22, 2013
    84
    9
    London
  • #5
    Hi, there

    Since you are into Market Research, you should give away or offer free downloads for some basic Market Intelligence Reports based on your own research experience.

    This will enable you to reach out to more start-ups who may appreciate advantages of market research and come to you for your services.

    I am also sure you must have done market research and competitive analysis to find out what is market size and what demand you can expect.
     
    Upvote 0
    M

    Marketester

  • #6
    XLIN.Ltd said:
    Hi, there

    Since you are into Market Research, you should give away or offer free downloads for some basic Market Intelligence Reports based on your own research experience.

    This will enable you to reach out to more start-ups who may appreciate advantages of market research and come to you for your services.

    I am also sure you must have done market research and competitive analysis to find out what is market size and what demand you can expect.
    Click to expand...

    Thanks for your feedback.
    We do offer free partial results to our existing reports so visitors can get some free market information and can get a better idea of the market research services.

    We have done some research indeed but it is always good to get some continuous feedback throughout the years.
     
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