Personas: almost real
Their benefits to your customer behavior analytics: oh so real
If you’re not single, pretend you are. Would you go on a date with someone based solely on this information: “Female, early 20s, enjoys cats and music.” Or, “Male, early 40s, likes sports and travel.”
Didn’t think so. Not only is it not nearly detailed enough, but the facts could be misleading. Like maybe the woman is 14 cats over city code. Maybe the only “travel” the man likes is an annual trip to Duluth. People are complex – they can’t be summed up in a five demographic bullet points. Yet in the business world, it’s remarkable how little is known about current customers.
At ColemanWick, our clients often ask us, “What type of market research should I conduct?” There are three types of market research, and what you choose depends greatly upon how much you already know about the research problem and your research goal.
The three main goals of research are to: (1) use background information to develop hypotheses; (2) measure the factor(s) of interest; and (3) test hypotheses to learn about the relationships between two or more factors. Depending on your research problem, you will need to use one or more market research types, so let’s learn the basics of each design.
Explaining the importance of customer data-driven decision-making is usually met with little backlash. Who doesn’t love “big data” and big numbers? But sometimes the most useful insight can materialize from “small data.”
Enter: focus groups. “Wait a second,” you may be thinking, “what can a small group of people sitting around a table tell me about my product or service that I don’t already know?!”
A well-defined problem is a problem already half-solved. The right definition of a customer research problem sets the direction for the entire project. Although every researcher and analyst understands the importance of correctly defining the problem, it is not always so easy to uncover where the problem really resides. Moreover, it’s vital to uncover the root of the problem so that you’re tackling the entirety and not just treating a symptom of a problem.