Monday, 18 June 2012

Market research essential for small businesses in tough times

Market research essential to
 small businesses in tough
times, says Voice Group.
Market research is essential to all businesses - but particularly so to small businesses when economic times are tough.

With the future of the economy uncertain, especially now the UK is back in recession, market research has never been so important, says Sheffield-based company Voice Group. It can cast a light on areas of darkness that the economy has overlooked or forgotten.

Speaking to consumers about new products and services and asking how they feel about them, what they like and don't like, is the best way to navigate the murky future, says the company. Market research enables a company to be prepared. It can also help with budgeting and product and service planning.

Voice Group is able to help small businesses understand what their customers want and what they are looking for in a product or service. Small businesses don't have big budgets that can cover over mistakes and misguided product or service launches. Everything needs to run smoothly first time around.

Voice Group can conduct this essential market research on behalf of small businesses. They have a highly trained team of staff that carry out in depth, qualitative and quantitative research using industry accredited methods. All the results of the research are collated, interpreted and reported in easy to understand ways.

Although small businesses have to pay for this service, the return on investment (ROI) is huge. By understanding its customers a small business can offer a better service or product, thus resulting in greater sales and with any luck customer loyalty.

Market research is particularly useful for advertising and marketing purposes. It provides small businesses with the tools they need to create campaigns that convert into sales. Voice Group has expert knowledge of marketing research. It can find out what consumers want and how they want it presented and what they do and don't respond to.

Just as scientific research enables scientists to reach conclusions about a drug or disease, market research can help small businesses make conclusions and summations about the success of a product or service. It is invaluable to all businesses, but particularly small businesses that don't have the safety nets of larger companies.

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