…Research

Before you clam up at the idea of market research over the phone, know that there are good ways and bad ways of conducting it, and that massively influences whether you get a happy chatter on the line!

Some principles of good market research:

Are you wanting to research a product or market fit? The two are very different, so keep them separate or you will muddy the conclusions from your data.
The few who engage with extra detail or passion are your niche. NOT the majority who give the same answers, and are not very invested in fixing the problem.
As many questions as you want to ask, stop. Best to ask a few open-ended questions than a laundry list of yes-no's. That way you can ask if they would mind another call at a later date to see if they can "give you further advice", once the current data helps you to know more about what direction you are going in.
Don't be a telemarketer. Yes that sounds paradoxical, but the reason people don't like market researchers is that they don't want to be pitched. Start the call by acknowledging straight up why they might feel resistance. Mirror their hesitation. Don't mention the word "research". Try saying you are looking for advice and would they mind asking (max) 3 quick questions.

Remember you are calling to listen to their opinion, not to talk about yours.

If they are a cold call, tell them who you are and what you do but keep it brief. But avoid pitching, even if they are a warm contact - better to get an agreement to contact them again or suggest you touch base to get their feedback when the data has created changes or a launch. Micro-commitments!

& Reach

Reach means focusing on exposure and building your list of contacts.

Make sure everybody knows you are in business!

Ask prospects

if you can have an appointment
to send them presentations
for opportunities to quote
for a specific type of referral - especially if the previous 2 points came up empty.

Look into the psychology behind an effective pitch so that they don't tune out when you tell them what you do - the aim is to have them ask questions about it so that you can tailor it to their interests, not to vomit up all the points you find exciting.

Whether you are in B2B, B2C or e-commerce, use your existing network to spread the word.

Ask friends, family, past colleagues and clients, social media contacts... to think of you next time someone is complaining about (insert problem you solve) or someone who is looking for (product you sell).

Ask them for a specific referral, whether its a type of person/company or an actual name you would love to do business with that they already have a relationship with.

Whether you do Reach calling in addition, instead of, or integrated with the Research strategy depends on nuances within your business.

Explore other options: Retention, Refinement

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