Recession Proofing Your Research
With the downturn in the economy, I've been asked by at least a dozen people recently how that will impact research budgets. Its too soon to tell for sure, but Forrester recently released a report with ten ways to "Recession-proof Market Research." Four jumped out at me: Require a clear business outcome for every primary study... This one I learned years ago from Chadwick Martin Bailey's John Martin. Never conduct a study if you don't know how the information is going to be used. And from a provider standpoint, don't assume an RFP is completely thought through. Put revenue focus in every survey you field... Another key to successful designs is focusing on key outcome behaviors (e.g., trial, purchase, cross-purchase, advocate) and their attached revenue. Its nice to know what people think, but satisfaction doesn't necessarily drive revenue. Reduce sample sizes based on the level of confidence needed in the results... Ask yourself how many respondents yo...