Magazine article Marketing
OPINION: Marketing Society - Market Research Must Be Pushed at a Senior Level
'Why should we go on measuring customer satisfaction when our scores keep going up and our market share keeps going down?'
A lot of companies commission market surveys without seeing any measurable commercial benefits from their activities. Why do they do it? The traditional rationales for carrying out research are still bandied around, but at the end of the day, if it's not hitting your bottom line is there really any point? How do you make market research truly effective?
Firstly, why measure for measurement's sake? Tracking surveys are critical for supplying trend data - particularly in advertising, brand and customer satisfaction. But tying current research into historical data means nothing if you're asking obsolete, irrelevant questions. Stick with a tracking dinosaur and slowly become extinct with it.
Stop adding irrelevant questions into an otherwise perfectly good survey.
For example, in a lot of car customer-satisfaction surveys, recent purchasers are asked how likely are they to buy this model again. Surely it would be better to ask them six months before their next purchase or to ask this question to owners of competitive makes? Trying to get your research to do too many things is a classic and costly mistake.
Most of us have mountains of data about our customers. But surveys continue to be commissioned independently of each other. Most data, when analysed, linked and modelled more objectively, can reveal untold wonders that had hitherto been buried in computerised survey records. So spend a bit of money making the most of what you've got - don't ignore it because it's last quarter's news. …