You might be wondering how and why a small business like yours would even consider marketing research. But small business can do effective marketing research. Granted it won’t be as elaborate and thorough as what the marketing research firms can do, but a little can go a long way, and it needn’t cost a lot of money either.
Questions come up from time to time with things like the introduction of a new product or service, the decision to acquire a new business, rebranding, or even expand to a new location. Easy ways to obtain relevant marketing research to help answer these questions include:
- offering samples and gathering opinions
- asking for feedback on Facebook from your fans
- creating an online survey for your current email subscribers to take
- consulting with your “personal board of directors” or key referral partners
- starting a discussion on LinkedIn with one of your Groups
- researching your competitors
While it may be that a credible and reputable marketing research firm is needed to make the bigger decisions, smaller ones can benefit from the research you do yourself. Don’t overlook the benefits of reaching out to your circle of influence – to those who already support your business and you.
Keep it simple.