Interesting facts can reveal business opportunity.

In this video, Philip Derham outlines how interesting facts can suggest a business opportunity that can be validated as a potential business opportunity if marketing research is undertaken to ensure the facts are more than just interesting.

 

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

Keeping your online surveys focussed by pre-loading customer data.

August 5, 2014

Transferring-DataThe stimulus to commission an online survey is often the need to know the answer to a particular burning question, which, when answered, will strengthen your business.

Online surveys can be quick, targeted and effective. (Our 20 Questions One Topic Monitors™ are examples of precise, targeted online surveys.)

In our online surveys, we can ask new questions and incorporate information you already know about your customers. This combination can give more useable knowledge about them, enabling more targeted responses to identified concerns.

The additional information may known to the customers (e.g. their postcode) or may be some construct you use (e.g. the value of their business to you, or the segments you group them into).

We can pre-load such information when we load in their email addresses for the online survey invitations.

Then we can analyse pre-loaded details with the survey questions that answer the burning question that stimulated the survey. This additional analysis capacity can show whether there is a need to do more with particular groups.

For example, if 90% of your customers are satisfied, is worth trying to convert the other 10%? That is a reasonable post-survey question.

But if the pre-loaded data showed us that 10% dissatisfied were your least valuable customers, you may take one decision. If the analysis showed them to be your most profitable customers, you may make quite another decision.

Hence, our online surveys can answer both the burning need question, and also the “and what next” questions that can follow.

If you’d like to know more about how our online surveys and particularly our 20 Questions One Topic Monitors™ can assist you, by adding pre-known information, please call or email Philip Derham.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

Self perceptions and your advertising

February 24, 2014

“I used to be the only wog in town” lamented Joe when we interviewed him, in person, for an hour. His interview was one of a dozen personal, face-to-face interviews we did to identify how our client could get more business.

In this long, personal interview, Joe went on to say “Now, there are lots of wogs here and I’m not special – except for my job (he was a highly paid professional). I eat out most nights, have a little farm and a flat in town, and pay the girls’ private school fees.”
Joe’s mother came to Australia as a 2 year old and 44 year old Joe was born here. He has lived in the town for all his life, and so in the town’s Census stats, Joe counts as Australian-born, of European ancestry – and little different to John Howard or Bob Hawke.

 Yet Joe’s comments show he sees himself as an outsider in the town, not part of it, and so not a potential customer for the client’s business. Joe’s affluence made him an ideal prospect, if only he could see himself as part of his town and so a prospective customer.

white coupleAs we probed further in the interview with Joe, we found that he resented seeing only mainstream Anglo people pictured in the local advertising. We also found he rarely used local businesses that did not address him by including people who look like “wogs” in their advertising visuals.

Gaimulticultural-teamning or losing Joe’s hobby farm mortgage was worth $5 million, and, as he noted, there were lots more wealthy wogs like him in the town now.

The simplicity of the solution – showing real customers from a range of ethnic backgrounds in normal situations, doing normal things, was quick, cheap and easy for the client to do.

Joe did re-mortgage with the client a year or so after we interviewed him, and his motivation to enquire and then convert was the simple solution of showing some relevant ethnic diversity in the ads.

Identifying these sorts of barriers and these sorts of solutions comes from talking at length and in depth with people in person. While surveys count the “who” or the “how” many effectively, they may not get to the underlying emotions that are barriers to business – and which can provide solutions.

When looking to further strengthen your business, we can use personal interviews to uncover some effective motivational cues for you as well. Please call or email Philip Derham now to find out more.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

When planning your marketing research

March 14, 2014

When planning your marketing research program, different techniques can be used to get you the knowledge you need to strengthen your decisions.

Online focus groups are a three to five day long computer/tablet/mobile phone-based discussions between the moderator (me), and twenty or so of your customers or prospective customers or staff. We talk (type) twice a day about the issues you want to know about and get clear, cost-efficient responses.

By using online focus groups, we’ve included participants from Karratha (WA) in the same online groups as participants from Redfern (NSW), from Toorak (Vic) and from Mt. Gravatt (Qld) – and saved just that client over $10,000 in research project travel costs.

Online focus groups get more open and honest comments from junior staff in hierarchical organisations because the nom-de-plume each participant is given saves them from either suppressing comments or risking career-limiting repercussions. Ideas generated have improved distribution and branding – even when senior managements were sure all was adequate.

Participants log in to our secure site twice a day (for 10 to 20 minutes a time). In each session, they answer questions from us and then see the answers others gave, and then comment on those too, building up the layers of insight.

We get around 30% more words for analysis than we do from face-to-face-face focus groups, which gives more and richer information to answer your questions.

So if you are looking to further strengthen your business, depending on the need, online focus groups could be the approach to use.

To discuss this method’s benefits for you, further, call or email Philip Derham now.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

Reported changes that can affect your business may not be the real changes you need to manage.

April 7, 2014

The CommonBank-queueswealth Government is considering plans to change the law to allow tellers to give general financial advice and sell financial products on commission.

Journalists reporting this say it may be good for financial institutions/bad for consumers or financial planners and shouldn’t happen.

The problem not addressed in the news: – Branch-based activity is diminishing rapidly.

The marketing research evidence:

Data suggests that over the last fifteen years:

*   The proportion of customers visiting a branch has declined to just about half of the total customers.Online-payment

*   Over the same time, Internet bank and smart phone app use has grown from almost nothing to use by half the customers.

*   And of Internet users, three quarters Internet bank at least monthly while only one in five visits a branch at least monthly.

The response needed

The important response for the finance industry is to establish how to engage with and to sell to the fast increasing number who Internet or app bank, while still engaging with the declining proportion who are branch visitors.

There may be similar changes in your industry, with reporting concentrating on those that may nor be the core ones that will generate more business for you.

We can help you to identify what your customers are doing and what motivates them, so you can sell to them more effectively.

To discuss how we can assist you further, please call or email Philip Derham now.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

Making interesting facts reveal business opportunity.

June 5, 2014

When you are looking for new business opportunities, lots of interesting facts leap out, and they can point to new directions, but can they help get morOpen-signe business?

One client came to us with lots of interesting facts and an expectation they pointed to new business opportunities.

The (public domain) facts they provided were that there were 11,764 cafés and restaurants in NSW and only 177 in the Northern Territory (1.6 cafés per 1,000 people in NSW and only 0.7 cafés per 1,000 people in the NT).
And that NT people earn more than people in NSW – $1,906 a week in NSW but 15% more in the NT ($2,184).

These “interesting facts” lead to the question of why are there fewer cafés per 1,000 people in the NT than in NSW?

The steps that followed from the interesting facts were to identify why there were fewer cafés per head in the NT, what barriers there were and particularly what would motivate NT people to eat out, and more.

Answering these and other questions required focus group and survey research.

So, when you need to go beyond the interesting facts, and know whether there is an opportunity, please call or email Philip Derham.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!

Thank heavens it’s Tuesday!

July 1, 2014

Monday morning management meetings are usually good starts to the week.

You’re back at work, refreshed, rejuvenated and the management team is firing on all cylinders. Ideas and questions race through the meeting, and you are ready to decide, to act and get everything moving.

And then someone says “If only we knew for sure, then we could..…”

Talk about stopping momentum, slowing enthusiasm, and making this new week just another week.

But there is a solution.

When you need to know the answer to just one question, to just one issue, you’ll probably find our 20 Questions One Topic Monitors™ can get you the answers you need.

Quickly.

If you call us straight after your Monday meeting, you can check and see if one of our pre-existing 20 Questions One Topic Monitor™ surveys covers your need.

If one does, and you commission it by Monday night, subject to receiving approval to proceed and the sample by lunchtime on Tuesday, we’ll report your answers on Friday afternoon.

When you know the answers, and are ready with those, your weekend can again be as refreshing and rejuvenating as the last, because you know that your next Monday management meeting can know, decide and act effectively.

We are able to help quickly and cost-effectively. To find out more, please call or email Philip Derham.

To find out more, contact Philip Derham – by email at Philip.Derham@derhamresearch.com.au    or by mobile phone 0414 543 765 or by telephone (+61) 03 9897 3011.

Or use the form below!