The Cliches Of It Market Research

The old saying that you should approach your IT market research with a multi-faceted strategy is a rather tired cliche

. Few financial investors would invest all of their assets into one stock or commodity -- why then would you ever consider putting all your market research eggs into one proverbial basket? The key to getting effective market feedback depends on investing in a diversified demographic portfolio.

Many businesses and would-be marketers get caught up in the promise of market research. Sure, you will be able to get reams of feedback from a wealth of participants ranging the spectrum of demographics. But, it's not so much the information as much as it's what you do with that information. Having a library of books will do you no good unless you know what you're searching for.

What are your long-term and short-term marketing goals? Answer those two questions and then you can begin to make sense of all that valuable market research you're paid an arm and a leg for. Justifying budgets is the biggest time and resource drain for most marketing departments -- and for good reason. When the board of directors wants to know why millions of dollar were spent soliciting so much information, it's best to have a convincing talk-tract.

Most marketing department or independent firms have no idea what their long or short-term goals entail. What are their goals for the next three months? What are their goals for the next twelve? Failure to answer these time-frames will invariably mean loss of precious time, resources, and most importantly, money. What is surprising is how this lack of decisiveness cuts across all companies, large or small, from multi-nationals to mom-and-pop shops.

If you're an IT marketer or a business owner, you will need to come through the dark night of your marketing soul with some definitive answers. You will need to know who you want to target (at least initially), what markets you want to penetrate. Knowing these things will do more than simply justify your budgets and positions, they will help you increase your profits and sustain a viable future.

by: James Pynn

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