We think it’s pretty important that companies use market research when making decisions. If you don’t have some kind of contextual information, you’re just shooting in the dark. That can lead to lots of problems.
In fact, Brandon Hall Group Chairman and CEO Mike Cooke has this to say:
“Market research is really important; you need to use data to support and validate what you’re doing. We do it ourselves all the time, validating what we’re doing and what our audience is thinking. There is something to be said for gut instinct. You don’t want to have paralysis by analysis. But gut instinct is not guesswork. It’s actually a blend of experiences, relationships you’ve had, and history you’ve seen that illuminates your decision. Companies should pursue a marriage of the two. You need to rely on both for support and illumination.”
We’ve developed a TSC confidential brief on market research just for you —“Tweak Your Business Based on the Market Research.” It includes three things you can do to realign your business to the realities of the market:
- Do a status check of your place in the market
- Start seeing the gaps between your expectations and reality
- Take the right action for your business