It's All About the Question — Market Research
A conversation starter, by Combined Arms Consulting — is this a conversation worth pursuing for your enterprise? Please reach out.
Data collection is very dangerous; if you collect the wrong information, that process could lead you further away from where you want to be without you even knowing it.
It's all about the question.
Think about your last survey. A bank, a telco, a retailer; 10 questions, a progress bar, a thank-you screen. Do you ever wonder if the answers are actually giving the questioner any actionable information?
One of the things my doctorate taught me in data collection is to know why you are doing it, ensure the questions are easily understood, concise, and targeted, and most importantly, ensure that the data collected is digestible.
Companies today are awash with data without focus, which is a problem, especially where important information can be lost in the noise.
This reality is not only costing money — it can also potentially lead companies to ruin.
Our experience suggests that few SMEs effectively plan for data collection, and even fewer apply the information collected for direct planning and product innovation.
As General Eisenhower noted, plans are nothing, planning is everything. You need the right data to build a case, but before that, you need the right questions upon which to build that collection methodology.
Most businesses design their research to validate existing assumptions. A confirmation bias. Or they ask questions that are generic in nature, questions that do not offer insights or highlight future directions.
The harder questions will try to help the leader illuminate the future, and that takes creative thought and commitment.
That's a different kind of research. Research focusing on the future, rather than just reviewing the past — although that is also important.
So what is the process:
1. Define objectives in line with the company
2. Identify target sample
3. Construct easily understood and concise questions
4. Ensure data collected is easily understood and manageable
Put simply, the RAT Principle — Relevant, Actionable, Timely.
Data capture is not about volume. It's about relevance.
Your customers are not hiding the truth from you. They just haven't been asked the right question. Put yourself in their shoes and appreciate their needs; now that's a good starting point.
It's not the budgets that matter; it is how well they are targeted.
D-Day took 2 years to plan, and it was based on meticulous data. Gallipoli took 35 days to plan, and they did not even have maps. You know the outcomes; Eisenhower was right, it's all about planning.
Asking questions never asked — Combined Arms Consulting
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1. High-level meeting — we listen before we advise
2. Assessing what may not have been thought of yet in the strategy
3. Making recommendations for the gaps