We need to gain customer insights but don't want to pay for traditional market research.?

Question

What do you think are the most effective techniques and tools to use to engage your customers without spending money on 3rd party research?

Answer 1

You could do the research yourself, if you think you understand the techniques.
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Answer 2

You create a "Customer Advisory Committee" wherein you distribute a series of surveys asking questions on how your customers feel about doing business with you. You also find out what they like and don't like about doing business with your competitors.

When/if you introduce anything new in your business that was a result of customer input...you prominently display that fact in your place of business...customers want to know that you take an active role in being customer oriented.

Any business can claim to be customer oriented...but when they know that you practice what you preach...you will become the clear choice for customers.

Answer 3

Simply ask your customers. Before you waste your time trying to engage them, figure out what information do you really need to make a business decision. Anything you ask of your customers they'll be doing as a favor to you - don't abuse the goodwill. Make it painless/quick to have them provide information. Allow it to be anonymous.

Most of the time businesses do market research they really know what they want to do, they just want some external validation of it. If that's the case, instead of market research, do focus tests instead.