Listen or Be Left Behind

In his book Predicting Market Success, Robert Passikoff says “smart brands do more than survive. They grow through innovation, expansion, diversification or specialization. This growth is rooted in an understanding of what drives loyalty: customer and category values, customer’s expectation, and what customers are willing to believe the brand can actually deliver.”

How true! If you don’t understand what your customer’s expect from you and your product or service how can you hope to exceed their expectations and build loyalty?

Market research is the only way of understanding this. However, it doesn’t have to be hugely time consuming and expensive. It is about asking your customers some key questions and collating the feedback, grouping it under logical business areas and then deciding what you’re going to do with this information.

In The Small Business Marketing Toolbox we have allocated a couple of modules to market research so that small business owners understand how to use the principles of basic research to better understand their customers and therefore build brand loyalty.

This type of market research is ideal for the small business owner because it is practical and cost effective providing tangible results that can be auctioned quickly to give you a competitive advantage.

To find out more about a practical, step-by-step marketing programme for small businesses visit The Small Business Marketing Toolbox today.

Tags: asking key questions, brand loyalty, category values, collating the feedback, customer values, diversification, expansion, grow, innovation, Market Research, Predicting Market Success, smart brands, specialisation