Here’s Why Market Research Is Key to Your Brand’s Success
Two words no CEO of a seven or eight-figure company ever likes hearing from me are “market research,” as in, “I feel it would be helpful to clarify our value proposition, our strategic advantage, and our audience if we conducted some market research.”
It’s so toxic; I keep those two words in my back pocket at all meetings like an emergency fire alarm in case I want to cut the session short. I could probably write the most concise best selling book in history titled, “How To Make All Your Meetings End Promptly” with just those two words.
So why does someone who bills hourly continue to use those words? Because proper market research is the same as the controls on an airplane or the helpline at any technology company. You can certainly get lucky and land that plane, but it would be a helluva lot easier if you could tell the difference between a runway and a cornfield.
The simple fact is the better and more in-depth the research, the better I am at my job, which is to communicate that singular message of differentiation that matters to a specific group of people.
What’s Market Research?
There are several different market research taxonomies, not all suited for every company. Retail outlets might want to examine a user’s experience…
