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Market research for small businesses

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Rob Greenland
Rob Greenland

This document provides guidance on how to conduct DIY market research for a new business start up. It outlines a 7 step process: 1) Decide what market you are in, 2) Agree on the research aim, 3) Track findings, 4) Analyze research, 5) Research the market, customers, competitors and collaborators, 6) Review findings to develop intelligence, 7) Make judgments and decisions. Key advice includes focusing on customer needs, discussing findings with others, and viewing research as an ongoing process to understand an evolving market.

Business
1  sur  28
Market research Business Start Up Old Broadcasting House 24 February 2010 ,[object Object],[object Object]
What we’ll do today ,[object Object],[object Object],[object Object],[object Object]
I work with social entrepreneurs ,[object Object],[object Object],[object Object],[object Object],Photo from Ant Smallwood via flickr.com
www.thesocialbusiness.co.uk Named UK’s top social enterprise blog
DIY market research ,[object Object],[object Object],[object Object],[object Object],[object Object]
Why bother? ,[object Object],[object Object],[object Object]
Step 1 - Decide what market you are in ,[object Object],[object Object],Picture from flydime via flickr.com
Why this is helpful ,[object Object],[object Object],[object Object]
Step 2: Agree aim ,[object Object],[object Object],[object Object],[object Object]
Step 3: Agree how to keep track of what you find out ,[object Object],[object Object],[object Object],Photo from koalazymonkey via flickr.com
Step 4: Decide how you will analyse your research ,[object Object],[object Object]
Step 5 - Start your research ,[object Object],[object Object],[object Object],[object Object]
Your market ,[object Object],[object Object],[object Object],[object Object]
Your market - ideas ,[object Object],[object Object],[object Object],[object Object],[object Object]
Your customers ,[object Object],[object Object],[object Object],[object Object]
Customers - ideas ,[object Object],[object Object],[object Object],[object Object]
Surveymonkey.com
Your competitors ,[object Object],[object Object],[object Object],[object Object]
Competitors - think about… ,[object Object],[object Object],[object Object]
Collaborators ,[object Object],[object Object]
Step 6: Research  Intelligence ,[object Object],[object Object],[object Object]
Research Mind Map
Step 7: Make judgments, take decisions ,[object Object],[object Object],[object Object]
To recap ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Don’t stop now ,[object Object],[object Object],[object Object],From quinn.anya via flickr
Questions and Comments From db*photography via flickr
What will you do next?
www.thesocialbusiness.co.uk @TheSocBiz

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