I recently ran into a terrific article by Christine Brown from Branding Marketing about Marketing your Market Research. Her main observation is that companies cut market research budgets because they see it as a luxury. But if they were able to use that research in a variety of ways — call it recycling or re-purposing — they might be able to justify those projects.
She goes on to give several examples that inlcude:
- YouTube Video of the BART seat lab surveys
- Blog post about survey results from Word of Mouth Association WOMMA
- Create a separate brand and URL for the information and research service that you will provide — literally treat it as a separate product line.
- Start a subscription section of your web site. You can use WordPress and their Wishlist membership plugin to create a subscription function that allows you to take payments and distribute information based on membership or subscription level.
- Run YOUR research and use some of your data for your own decision making and the other data for re-sale to the industry.
- Offer to run surveys for customers or competitors in your industry. This might freak out your management, but it’s simply called “contract manufacturing” it happens in manufacturing all the time — companies who have tools and capabilities built into their infrastructure will make another company’s product just to keep the equipment running — it’s selling unused time and space.
- Run regular tracking surveys and sell the reports and data. Simply include general market and industry question in your surveys and run them regularly and then sell the results. One area of research that is always difficult to get for specific industrial segments is market share information. By simply asking a few questions, you can generate this valuable data and sell it.