Do you need a little help identifying places where potential savings may exist in your market research budget? If so, here are some great questions to ask.
The day I beat my data to death: I poked it, pulled it, pummeled it. I sliced, slashed and skewered it. I tore it up into a thousand pieces and glued it back together into a Frankenstein mess. I abandoned it. I restarted from scratch. Seven times. I created 43 new variables, each of them a total waste. It wasn’t analysis any more; it was an act of violence.
Has your market research budget been cut? If so, one of the programs most often impacted is Customer Satisfaction tracking. For firms accustomed to tracking on a continuous or quarterly basis, cutting back on this program is often a necessary, though unfortunate, reality.
Q: Our market research budget has been slashed. The greatest impact is on our Customer Satisfaction tracker, which we had to reduce from once a quarter, to once a year.
Are you thinking about a market research project? If so, you may be debating whether you should hire an outside market research agency or do it in-house.
Of course, working with a market research agency is a big investment. Depending on the scope of your project, you may be looking at a $50,000, $100,000 or greater budget. Then again, a DIY approach can also add up—perhaps far more than you expect…
Market Research is a big investment: taking the time and money to do it right. So how can you make that go/no go decision with confidence? Complete these 4 easy tasks and you’ll be in good shape.
