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Market Research and Understanding Customers: Everything That Matters, Briefly Print

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The whole category in one page.

MOST BUSINESS FAILURES ARE FAILURES OF DEMAND, NOT EXECUTION

The product worked; nobody wanted it enough. Research is how you find that out cheaply rather than expensively.

ASK WHAT PEOPLE DID, NEVER WHAT THEY WOULD DO

Past behaviour is evidence; intention is speculation, and people overstate willingness without any dishonesty. Walk me through the last time this happened is the most useful question available.

KEEP YOUR IDEA OUT OF THE CONVERSATION UNTIL YOU UNDERSTAND THEIR SITUATION

Once described, they respond to it rather than telling you what actually happens.

WHAT PEOPLE HAVE ALREADY SPENT MONEY ON IS THE STRONGEST EVIDENCE OF A REAL PROBLEM

So are workarounds. Nobody builds a spreadsheet to avoid something that does not matter.

CONVERSATIONS DISCOVER WHAT MATTERS; SURVEYS MEASURE HOW COMMON IT IS

Doing them in the wrong order means you can only ask about what you already thought of.

DECIDE IN ADVANCE WHAT RESULT WOULD MAKE YOU STOP

Otherwise you research until you find support for what you already wanted, and every result becomes encouraging.

YOUR REAL COMPETITOR IS USUALLY DOING NOTHING, AND IT WINS MOST OFTEN

READ NEGATIVE REVIEWS OF COMPETITORS, BECAUSE THEY DESCRIBE UNMET NEEDS

AND CALCULATE HOW MANY CUSTOMERS YOU NEED TO BE VIABLE, BECAUSE THAT NUMBER MATTERS AND IS FREQUENTLY SMALLER THAN YOU FEARED


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