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Sep29
Market Research on a Budget

I just read an interesting article in an e-newsletter about doing market research on a small budget.  While the focus audience is "home based business", I think this would provide some tips for those of you operating small businesses outside of the home, or building a business as a franchisee. 

Take note, also, of the changes described in the editor's comments about changing the name of the newsletter.  (For full disclosure, let me state that I am that former Public Relations Director who was nicknamed PR Mama and that I was in the employ of the publication for more than three years, prior to the staff changes that led to my own freelance ventures.  I've worked with Nancy Carter, the current Marketing Manager, and am thrilled to see the strides she has made for their company.) 

It seems to me that this fall, many of the small- and home-based businesses owners I know, as well as freelance folks, are making changes to their business operations.  Frankly, I think change is good, in small, productive doses.  The most important part is to plan things out in advance; get them all mapped out, decide where you'll change and adapt, then let your customers know.  If you are just beginning to establish your brand identity, it's vital that your customers understand that you are making positive changes, not just flailing around hoping that any change you make will do something, anything, to build your business. 

If customers get that perception, or see an organization that changes very frequently, they will not see your company as being as trustworthy as the competition, who may be sitting back learning from your mistakes and making gradual, in-house adjustments, tweaking them to perfection, then announcing and implementing them.  I may not always hit that mark myself, but it's certainly what I strive for.

Is change in the air at your office too?  What, and why, are you adjusting or remodeling?  Are you redoing your physical surroundings?  (I sure am!)  Are you reconsidering your business practices or ending unproductive contracts in the interest of better service of the productive ones?  Let me know what changes are brewing as the leaves change this fall!  When I'm done getting my new digs set up and my new projects underway, you can bet I'll announce them here as well.


2 Comments/Trackbacks




I'd like to add one more resource not mentioned by the article. For those who rely primarily on their online presence, PEW Internet provides powerful research on American online habits.

You may also wish to send out surveys to your existing customers the next time you send out your next email newsletter too. All things small businesses can do to get a bit of a business edge.

I've recently changed my business from doing statewide dollhouse & miniature shows on top of being home based to just doing the shows. My husband retired, my parents are getting older, and the grandbabies are getting older also. The hours I had to devote to the business have been totally reversed.
I think the idea of a survey to my "regular" customers may be a very good idea. I've got a large group of customers who look for us at all the shows. I've also got customers who are used to coming here to make purchases.
I have carried some of the periodicals that pertain to the miniatures hobby for years, but since we are only doing shows they are starting to stack up.
For years I have only contacted customers by mail if I was having a sale. I think the idea of a survey might be a pleasant change for my customers and myself.

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