Business insights & decision making: Research Tips

There are several ways businesses benefit from talking with customers & potential customers, among them are the following:

  1. Getting a better understanding of market opportunities – what would these customers want from you?
  2. What do they think you can improve on?
  3. What are their pricing tolerance?
  4. What feature needs do these customers want?

business decisionsMost start-ups are focused on finding ways to gain new customers and testing different pricing, advertising and business model concepts. Thus talking to a representative sample of their target market (potential clients) can go a far way in their decision making process – deciding where best to allocate limited resources.

There several ways to find data and insights around key business questions, in order to gain the information required to push forward with growth and business development efforts.

Three Simple steps:

  1. Talk to customers & potential customers
  2. Determine the key business questions where feedback from a large audience would help you make better decisions
  3. Using a survey or even several recurring surveys to monitor trends that can help identify answers quickly
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