Is Marketing Research a Waste of Money? Our Research Says: No

In today’s changing business landscape, planning is no longer just about strategy, it is about strategy informed by solid research.  As you start preparing for the new year, I wanted to remind you about the role research will play in propelling your organization forward with a more targeted success.  Here are six ways that Business Development Directives can help you with your business planning efforts.

  1. Informed Decision Making – Research provides a fact-based foundation for decision making, thus reducing risks and increasing your ability to seize opportunities to make better decisions with confidence
  2. Identify Changing Market Trends / Conditions – Helping you keep abreast of market trends and changing customer preferences and behaviors.
  3. Customer Focused Approach – Access to reliable data and insights gives you a better understanding of your target audiences’ preferences, pain points and needs and allows you to have a competitive advantage.
  4. Better Resource Allocation – Research will help you allocate resources much more efficiently and effectively.  In other words, research will help you find the best ways to reach your target customers in the most cost-effective way.
  5. Reduce Uncertainties – The business landscape has changed dramatically since the pandemic.  Having solid research will help you navigate the unknown challenges in a much more proactive way.  It also allows you to realize potential risks before they become overwhelming.
  6. Help Develop a Long-Term Vision – Research will help you focus on a longer-term perspective.  This will assist you in seeing the big picture and make better decisions for the future.

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