Struggling market research

[SimasP]

Dear more experienced colleagues,

I have a business idea in which I deeply believe. However, I understand that market research is necessary. The first market of my business will be London as that will help me to scale later. At the moment I don't live in London and I came there a few days ago to carry out a market research. I suppose that end user of my product should be quite busy, medium or above medium funded, traveling person. I went to the streets of City with my questions and that is where all the troubles began.

Everybody was just running past me, I couldn't interview anybody. But the biggest trouble appeared to be my modesty (if I could say that) as it was really really hard for me to go to an unknown person and try interview him. So I quit interviewing with almost zero results and started giving away the leaflets with the link to my online survey. But it seemed that it is even hard to make Londoners take those leaflets, it was psychologically hard for me too. And, of course, almost nobody actually took the survey.

So this is my situation. Could you give me some advice? How can I have my market research done? Should I continue giving away leaflets?

Thank you in advance.

 

[SimasP]

By the way, I didn't mention that I almost ran out of time - I have to leave London on Tuesday. So I'll need to carry out my research or at least a part of it online.

 

[StevensOnln1]

What sort of questions are you trying to answer with your research? What are you going to be selling?

 

[SimasP]

It is more a service. I'd call it a holidaypirates adjusted for busy people. Principle is simple - travel deals should fit the schedule of people, not opposite. So I want to focus on providing people best travel deals for every weekend - weekend is the only time wen busy people generally have free-time.

I can't post the normal link to my survey but you'll see the questions if you delete the brackets: (surveymonkey.)com/s/weekendtrip

I'd like to find out my target customers, a group which travel most during weekends. I'd also like to confirm that there is really a problem - there are many travel deals services but busy people can't use them as deals usually don't fit to their schedule.

 

[LowPrices.uk]

Set up a little stand somewhere and give something small away for doing your market research, e.g. free can of coke, free bar of chocolate.

 

[SimasP]

Thank you, a little bit lack of time but I think I will do that in the future. Waiting for others advice too.

Apart from advice, maybe you can fill the survey. Once again, the link is:

(surveymonkey.)com/s/weekendtrip)
Please delete the brackets.

I would also be very happy to receive critic about the survey as it is my first time doing market research.

 

[SimasP]

If you don't have advice for my case, maybe you could just share your market research experience?

 

[The Byre]

The information is freely available and in great depth. All you have to do is use search engines and travel industry sources such as trade magazines and you will find it.

 

[beasty]

Put your questions on one side of a leaflet, make the other side look approx like a 50gbp note

Hi, I am just handing these out put it in someones hand, couple of quick questions
QUESTION ONE
ah TURN OVER you will see them

Easy to do but it is about how you approach the people and how you can engage with different personalities.

Stick a code on the leaflet with 50 quid off if they book 4 people simples

or

Get yourself a fit female to help, how can i say this without being sid the sexist, er, well i have measured up to 20x higher response rates from males when working with a model type female, they introduce something and then someone else takes over..

 

[SimasP]

Wow, Beasty, great and creative ideas. That will definitely help me in my future.

I am so excited to see responses like beasty's that I am asking again - what are your secrets for successful market research? I am sure that there many others who have done amazing researches.

Thanks for your answers.

 

[SimasP]

The Byre, thanks for your advice. Maybe you could be more exact? Which sources you suggest to look at?
Of course, I used Google Adwords, also researched web but that doesn't seem enough for me. That doesn't give me the sense if there actually is a pain point for the customers.

 

[AllUpHere]

Put your questions on one side of a leaflet, make the other side look approx like a 50gbp note

Hi, I am just handing these out put it in someones hand, couple of quick questions
QUESTION ONE
ah TURN OVER you will see them

Easy to do but it is about how you approach the people and how you can engage with different personalities.

Stick a code on the leaflet with 50 quid off if they book 4 people simples

or

Get yourself a fit female to help, how can i say this without being sid the sexist, er, well i have measured up to 20x higher response rates from males when working with a model type female, they introduce something and then someone else takes over..

Not really a recipe for high quality research data though is it.

There is a little more to research than simply encouraging people to talk to you.

@SimasP what kind of information are you looking for?

 

[The Byre]

The Byre, thanks for your advice. Maybe you could be more exact? Which sources you suggest to look at?

There are trade magazines that commission exactly the kind of research that you are trying to perform. Anybody working in the travel industry will be aware of the titles. There are also trade associations for the travel industry that have also done this type of research to great depth. All you have to do is contact them and join the right ones that give you access to this research.

The government has also conducted research into just about every aspect of the tourist and travel market, from the impact of wind farms, to road and rail improvements.

 

[David Miralles Pérez]

Hi SimasP,

Have you tried to conduct your market research online?

Travelling to London, printing out leaflets and spending a whole day giving them away can be very time consuming. What I would recommend is to set up an online survey and offer something in exchange. Maybe you can set up a contest and give something (a free ebook, a free trial of your services/products, anything...) to X winners. This way you will encourage people to take your survey and will gain time (and money).

If you want to research your audience in a more general basis, you can always start your market research online. Set up a profile for your ICA (Ideal Customer Avatar) and find people in London that share the same features that your ideal customer. This way, you will be able to analyse your audience without asking people one by one.

I wrote a blog post about market research that may be of interest: circalingua[dot]com/market-research-define-your-niche-market/

Hope that I brought some light in this issue!

 

[Phil Richardson]

Hi I have just completed your survey and a few pointers

There are too many questions
You need some kind of indicator to know how far through the survey you are
You are asking for too much personal information - sexuality, type of phone, company work for, job title, age, number of children etc. etc. I would not fill in these details online, are they really important
It wasn't very interesting to complete, I don't really know what I mean by that but some surveys get you to think more. Yours seemed very basic in the questioning

Doing research on the street takes a certain personality to engage with people very quickly and get them to give up their time. Like most things that you think are simple it takes skill and practice/training to get right.

Good luck with it.

 

[NickGrogan]

Very strange questions, not really going to tell you anything. I lost interest part way through and the questions at the end are far too personal and irrelevant.

 

[John_Adams]

Sometimes online surveys can give skewed results if you give something away as a result of filling it in.

Your problem with street surveys maybe you are a bit to close to the idea to really feel comfortable to approach people.

Why not stick an ad in gumtree and get a couple of students on minimum wage to do it for you.

If you give clear questions for them to ask, it would help.