After completing more than 200 market research projects worldwide, here are my random observations:
- If the results of the research are good, everyone is happy; if they are not, they often try to undermine the research itself
- There is probably not a single department in the organization that wouldn’t benefit from market research
- There are clients who ‘do’ market research just to cross it off the checklist
- Most of the people are not aware of how market research is actually done
- People are often not aware of how big the market research industry is
- A lot of people in the market research industry accidentally fell into it
- There are many different methods of conducting market research
- When done right, market research can and should improve sales
- You don’t need to always listen to the results of market research
- In the market research industry, everyone works with everyone
- Customer-centricity and data-driven are not the same things
- Market research should be a third of your advertising budget
- Data quality is the most important thing in market research
- Market research will be a big industry in the future with AI
- Market research should influence the business strategy
- We often don’t need more data; we need better data
- ‘Insights’ is just a new name for market research
- Market research is still undervalued
- Data is not insights 🚶🏼