A major magazine article about "My Biggest Failures" quoted
major business leaders who made colossal mistakes. In almost
every case they blamed their error on jumping to a costly decision
without doing good market research first.
Most clients Lawrimore works for have never conducted any
formal research before engaging us. But they soon see it can
be tremendously valuable in helping make smart decisions and
discovering unknown facts. So we encourage you to review these
options, all of which can help establish a rock-solid foundation
for developing any kind of success initiatives:
(1) Customer/Prospect Survey - Nothing is quite as exciting
and energizing as having a clear picture of your customers'
or prospects' perceptions, needs, values, satisfactions, and
suggestions for improvement. Valuable results can be achieved with anywhere from 8 to 800
calls, depending on your budget and number of customers. Random
dial telephone surveys are the ONLY form of market research
that allow estimating statistical probabilities of results. (continued ->)
For example a random dial survey of 400 representative people
has a 95% confidence level of representing the entire target
population, plus or minus 5%.You can take that kind of confidence
to the bank.
(2) Mail Survey – Still the most cost-effective way
to get feedback from a large number of people, we can manage
all the work or team with your staff to save time and money
for best results
(3) Online Surveys are growing in popularity as more and more people have Internet access. These can be constructed so that responses can be tracked in real time. Results are almost as reliable as random-dial telephone surveys and a lot less expensive.
(4) Focus Group - A group discussion involving 8-12 customers,
prospects, or employees, allowing more in-depth probing and
creativity than telephone surveys; especially economical if
participants are within easy driving distance.
To enhance our focus group services, Lawrimore also owns and operates the Focus Group Recruiting Center, involving hundreds of diverse Charlotte area residents eager to participate in focus groups as needed.
(5) Information Searches - Locating
and analyzing the most current market information, especially
trends and innovations, accessing proprietary data sources
as well as the Internet, print material sources, trade association
libraries, expert interviews etc. If you need valuable information,
we are very experienced at finding it.
(6) Market Targeting - Analyzing your present customer base
by SIC or NAICS Code (industry category), size and other factors,
and selecting the most profitable market segments to target
for development. Obtaining qualified lists of actual prospects
in each target market and helping you import them into your
in-house computer database if desired.
For more information
about how Lawrimore's market research services can help you,
please contact us using our online contact form or call 704-332-4344.