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Thread: Market Research - do small businesses need it?

  1. #1

    Default Market Research - do small businesses need it?

    Hello!
    First time here. Wanted to introduce myself and right away ask a question, because I am puzzled.
    I have been working in the field of Marketing Research for the past 12 years working at one of the leading Market Research companies in the world. Recently I decided to open my own business targeting small businesses with low cost option.
    I have a vision that all business sizes can benefit from Market Research. So I created a website, started promoting it with ads, social, and... nothing. Over 500 people visited and 0 leads.
    So just wanted to understand what is the problem? Do small businesses need Marketing Research? What am I doing wrong?

    Just to give a bit of a background here is the link to my website. Maybe it is the website?
    http://www.customxtrack.com/

    Thank you for your help.

  2. #2
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    I suggest to start networking on linkedin. Your post is vague. I don't know how you are marketing and what you are stating. Maybe you are spamming. Are you using social media, etc? I see you write that you are but how? I personally don't think ads are useful but that does not mean it does not work. Check out rachel miller on fb and tap into her program.

    Maybe if you focus on one sector instead of ALL businesses. Not all businesses need or want. 500 is not alot.
    AND WHY do businesses need market research. If you answer that question and go backwards then maybe you can target better.

    I have 3 businesses and I don't need market research. Hone in on one industry to start and then take off from there. Hope this helps.

  3. #3
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    It always seemed to me that most of the market research done by large companies was junk. I have to think that an affordable option for small companies isn't really going to bring any value but I would also expect that there are small companies that would go with it.

    I tend to think that small companies should have a better feel for what is going on with their market and their customers because they tend to be more hands on.

    Perhaps a large company where the executives sit in their "ivory tower" and are many steps removed from the end user have more to gain but I do question the value of much market research.

    Still there are smaller companies that will bite, I am less sure if they will gain much from the experience.
    Ray Badger, Turbo Technologies, Inc.
    www.TurboTurf.com www.IceControlSprayers.com

  4. #4
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    I viewed your site again. Do you give the company TOOLS to do the market research or does YOUR company conduct the market research?

  5. #5

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    Quote Originally Posted by beetee View Post
    I viewed your site again. Do you give the company TOOLS to do the market research or does YOUR company conduct the market research?
    The idea is to provide Market Research services, so we conduct research based on the client's business questions or problems.
    Thank you for the previous comment. It was good thinking. I guess I relied too much on ads, not enough on social media.

  6. #6
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    Doesn't matter the size of the company, if you don't know who the target market is for your products and services, and how to speak to them you will never attract them.
    I've been working with small businesses for over 12 years and most think marketing is just putting it out there, all over the place, and waiting to see who will bite. They usually fail.

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