One thing you don't want to cut back on

There was a thought-provoking story in my local newspaper a while back. More of a question, really: The Minneapolis Star Tribune asked some folks, “What’s the one thing you are NOT cutting back on right now?” I’ve been asking questions like that for quite some time, and the answers I’ve heard range from “my daughter’s education” to “Starbucks” (the person I spoke to had cut down, but was not about to cut out her daily caffeine fix). From the newspaper story, one lady was still indulging in fresh cut flowers, three times a month. One gentleman refused to give up on his favorite beverage: “Beer.”

The justifications were as diverse as the sacred cows: “She’s the most important thing in the world to me,” or, “This is like one of the last little indulgences I’m hanging on to.”

Implications: Humans are fascinating people. Our priorities are as diverse as our personalities. And now more than ever, it is incumbent on each of us to know both, when it comes to the consumers we serve.

The irony of economics is that some companies are cutting back on consumer research at a time they need it most. If you work for one of these intelligence-dependent companies that are cutting back on the research budget, sulking does little good. Instead, explore whatever effective, cost-efficient means you can find… to benefit from the feedback of your customers.

A recent story by Marketing Daily offered suggestions for low-cost research methods. But beyond those you’ll find in the article, it might be time to go back to the basics: Subscription-based secondary research, such as Scarborough Research, Nielsen, The Media Audit, or RTS. Maybe you could ask consumers for their input via the good old-fashioned counter-card, or today’s digital cousin, the online survey.

While there are lots of folks out there who can help you with survey design, good research is anything that helps you understand how to retain old customers and obtain new ones. (And sometimes, just asking for a little input from your consumers is a good first step toward both!)

• Of all their options, why did the consumer choose you?
• If they’re new to you, whom did they used to buy from before they found you?
• If they’re a long-time customer, what is it you provide that keeps them coming back?

Since customer loyalty is one of those things you can’t afford to cut back on, listening to the customer is one of the things you can’t afford to stop doing. So think of some questions worth asking… to customers worth keeping.

Mike Anderson