Losing customers is an inevitable part of running a business, but when more customers start leaving than expected, or retention becomes a growing concern, understanding why is essential.
One of the most common questions when planning a market research project is how many people you actually need to speak to. But the right number depends on what you're trying to find out, who you need to speak to, and how you intend to use the results.
A good customer segmentation can be hugely insightful; it gives you a much clearer understanding of the different types of customers in your market, what they need, what motivates them and how their behaviours and attitudes differ. By the end of a project, teams often feel they understand their customers in far more depth than they did at the start.
Concept testing sounds fairly straightforward; you have an idea, you show it to some potential customers and you ask what they think. If the response is positive, then surely you’re onto a winner? However, to get this research right, there's a fair bit more to consider.
Every August, many retailers prepare for one of the biggest moments in their calendar. Parents begin buying uniforms, stationery, shoes, backpacks, lunchboxes, and technology, while brands compete to be found first when shoppers start searching.
Most of the clients we work with have ideas about what their customers value, what's likely to encourage someone to buy and where the biggest opportunities for growth are. These early conversations are often one of the most valuable parts of any new project, as it helps set the context for our project team.
One of the first questions businesses ask when considering market research is: "How much is this going to cost?"
Most business leaders would agree that making decisions based on evidence is better than relying on instinct alone. Yet, when it comes to launching a new product, changing prices or investing in marketing, gut feel still plays a surprisingly large role.
Many businesses associate market research with launching a new product or service, but in reality, it can provide value at every stage of a business' journey.
If you’ve not found yourself looking at home air conditioning over the last couple of weeks, you’re probably in the minority. With another spell of exceptionally hot weather, keeping cool has become a priority for many households.