UNDERSTAND YOUR CUSTOMERS AND MARKET
Explore the possibilities in the market.
Encouraging customer conversations and practical experience can be a valuable starting point. We build on them to explore where an offer fits, how needs are changing and what a next step could look like.
When it is worth checking first
A closer look can be useful when a market question could influence the next investment. This might involve:
- Considering a new offer, market or customer group.
- Hearing mixed signals from customers, prospects or partners.
- Seeing less demand than expected after launching.
- Wondering whether to invest more time or money in an early idea.
- Bringing an outside perspective to the experience already in the business.
What we try to understand
The point is not to gather as much information as possible. We try to understand how people deal with the problem today, what matters enough to change and where the offer may or may not fit.
- Who has the problem, and how often does it affect them?
- What do they use or do now instead?
- What would have to change for them to choose something new?
- Which alternatives or competitors matter to them?
- What is still unknown after the research?
From research to decision
We start with the decision you are trying to make. Then we collect only the information that could change it. Before the work begins, we agree what would count as a reason to continue, adjust the idea or stop.
Research can support a decision to continue as planned, make an adjustment or explore another option. We discuss patterns and differences openly, so the conclusion reflects what we find.
The method depends on the question
There is no standard research package. A question about entering a market needs different work from a question about why an existing offer is not selling.
We may speak with customers, look at competitors, review sales figures or try the offer on a small scale. We stop when more information is unlikely to change the decision.
Example: testing a new customer group
Imagine an offer that receives positive comments from people in a new customer group.
- Situation
- The first conversations suggest interest. The next question is whether the offer fits well enough for people to change what they use today.
- What we check
- Talk to people in the group. Ask what they do now, what it costs them, which alternatives they considered and what would make them change.
- Decision
- Decide whether to keep pursuing the group, change the offer or stop before more time and money are committed.
THE OUTCOME
A useful basis for your next choice.
At the end, we bring together what the research supports, where views differ and what may be worth checking next. You can use that picture alongside your experience when deciding how to proceed.