The Best, Least Expensive Marketing Research A Small Business Can Do

When sales slow down small business owners generally put their marketing hat on, try a new idea or two and hope for the best. I’ve been a small business marketing consultant for more than two decades and have come into businesses after owners have searched for answers to their marketing questions. When the subject of doing some marketing research comes up, they usually dismiss it as too expensive and/or of questionable value. And, actually, for most small businesses, I’d agree.

But there is a type of marketing research you can do that I’ve seen work time and time again: talking to your customers. Let’s call it “homework” and not marketing research—that’ll make it a bit easier for you to consider doing.

You probably have several ideas regarding what needs to be done to crank sales back up. However, you don't have the time or money to try everything. Doing some homework first will help point you in the right direction.

"Homework" in this case is going out and talking with your customers, and in some cases, prospects. My experience is that when an owner starts to feel like his or her sales should be higher but aren't sure how to change things, their marketing is starting to wear out. But which part?!

That is, their marketing is falling out of sync with their target market. When's the last time you changed your positioning? Message? Distribution channel? If it's been a while for any or all of those elements, your marketing may be aimed at where your customers were, not where they now are.

How to do your homework? Sit down either in person or on the telephone and ask your customers questions. About them. Don't ask how you can sell more to them. Ask about them. Remember, they don't care about you, they care about them. In doing so you will get clues to how you can be of more service to them and, as a result, how you can sell more to them.

Ask:

• What's going on in their market, with their customers? What kind of pressures or opportunities are they faced with?

• What are they doing about all that? What are their plans or focus for this year? Downsizing? On a growth spurt?

• Is anything happening specifically around how they use your product or service?

• How can a vendor like you help them right now?

• What criteria did they use when selecting you as their vendor?

• How would they expect to hear or learn about a new vendor such as you?

• What is important to them, right now, about your product or service?

• How would they suggest you let more people like them know about your company?

Best case, your customers will tell you how to change your current marketing approach. Worst case, they will give you clues that will suggest what changes can be made. Ask. Listen. You will be pleasantly surprised with what you learn and the changes you can make.

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