Feb 01 2010
Doing the legwork: Why research is key to sound strategy development
We’re always keen to stress just how much work we put into the initial research stages of any project we undertake, how getting and then interpreting the right information informs how we develop an appropriately effective marketing strategy further down the line. But just what do we mean by research – and is it really worth investing time and effort into finding out stuff our customers might already know anyway?
The answer is yes! As strategic marketing consultants we strive to ensure we get the strategic thinking right, and to do this we need to have a clear understanding of the market and of our client’s customers. Whilst we also dig deep into the hidden recesses of our clients to gain a profound understanding of how they work and why, we also take the time to really get to grips with the outside world too. So just what sort of information do we look for and where do we find it?
Firstly, we identify who we want to talk to. Current and lapsed customers as well as potential customers all provide valuable insight from different angles – some not always favourable but nevertheless critical to understanding the role our client plays in their lives. We also might speak to industry bodies or organisations as well to build as full a picture as possible of the landscape in which our client competes both in the present and in the future.
Once we’ve identified our targets, what are we going to ask them? Generally, in order to really make the most of each contact without eating into too much of their day, the information we gather falls into 3 main categories:
1. Their take on the particular market sector – any trends, issues, challenges which are impacting on them.
2. Specific issues to them within their organisation relative to the are we’re researching – their opinion, understanding, experiences in order to build a full picture of the challenges they are facing.
3. If they are/were a customer, an in-depth, warts-n-all look at their take on the client in question. Here it’s important not to shy away from asking any questions which may elicit a negative response. A client needs to be able to respond to all feedback, positive or negative. It’s surprising how many clients who perceive no real issue with their current service offering find out just what their own customers really think about them when they talk to a third party! Painful but necessary stuff.
And there you have it – hopefully an honest insight into how a particular customer perceives a product or service. Armed with this information, we can then set about interpreting just what this means for our client. But without this information, any strategy development would remain a meaningless, academic exercise with very little chance of successful implementation in the real world. And that’s from our own research, not just a wild guess!