Communicating - Designing and delivering effective market research campaigns from one day to several weeks.
Market research is often overlooked to the extent that a couple of days' inexpensive research could often have saved thousands of pounds. A typical example is someone starting a business or opening a shop without even finding out if there is a demand for the product or service they are offering in that area.
Market research is often avoided simply on the basis of cost. Market research should be regarded as an essential tool to help your business provide a better service or to save time and money on a venture that simply will not work.
Communicating provide inexpensive and effective market research, for a wide range of clients. Research packages can be tailored to your exact requirements and include:
· Customer surveys and research to ascertain:
o Customers perception of your company o How satisfied your customers are o How dissatisfied your customers are, and with what o Why customers buy from you (a good way of establishing USP’s!) o How you could further develop your products and services o How you could win more sales o What projects are coming up and who is controlling them o How much the customer will spend over the next year o Customer price sensitivity
· Market analyses to determine:
o Whether or not there is a market for your products or services o Your main competitors and their USP’s o The media, professional bodies and exhibitions in your market o How to position your company for profit
· Sales analyses
o The continuum of behaviour o Incentivising the sales process o Pipeline management criteria o Sales research questions to ask prospects
Research examples:
A local professional company wanted to reposition themselves in the market for increased profitability. They asked us to analyse their competitors. Each of their 34 competitors was contacted and asked to send information. An analysis of the information clearly showed how the company could position itself uniquely in the market. The company was re-branded and a new brochure and website was designed. Everone who has seen the new brochure has commented on how striking the brochure is. Re-branding makes the company seem much more modern, interesting and friendly. The whole project took less than a week! – Chris Robinson, Communicating
One client divided their customers into two lists – one list of good customers they wanted researched and the other list of awkward customers they did not want. They gave the wrong list to us and away we went researching the awkward customers the client did not want. The results were astonishing – there were a couple of irate phone calls to the MD but a number of customers were so impressed with the researchers questions and their reaction to the answers that they placed substantial orders with the client and became much more appreciative of the service provided. The project took less than two days. – Chris Robinson, Communicating.
Communicating provides marketing expertise on a part-time or project basis.
"Chris cuts to the heart of quite complex issues and gives good honest advice." - Derek Caplen, DeeCee Upholstery, Portswood, Southampton
Marketing Tip
Under pressure, most companies reduce prices. But as prices are reduced and margins eroded, so quality and service suffer and the pressure increases. The best option is a review of the whole business with a view to formulating a strategy to maximise the remaining profit potential and reduce other costs accordingly.