At start, I’d like to point out few market research axioms:
Or to quote some of the opinion leaders:
Without data you're just another person with an opinion.
How true. So many business decisions are made on gut reactions. While many pay off, many force bankruptcy and debt too. You just don't hear about them as much. Use research to gather aggregate data and see how other opinions compare to yours.
Your most unhappy customers are your greatest source of learning.
In the proverbial 0-10 scale, companies love their 9s and 10s. But a company can arguably learn more from their 1-6 ratings than those on the high-end of the scale. Identify your drivers of dissatisfaction to improve overall satisfaction. Seems too simple, right?
Hopefully you agree with some, or all of those statements. But are you wringing the most out of your market research investments to help your organisation achieve its strategic goals? It can be beneficial to ask yourself honestly about your practices and procedures, and how you implement actions following research initiatives:
My top recommendation for using market research effectively is therefore simple. Make sure you are using it!