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You're in business to make money. If you're in business, you probably know your customers,
but do you really understand them? Why? Because you can turn a one-time customer into a loyal
customer. And that's what you want - keeping god customers that make you more money in
the long term. Here's how to understand your customers better and make more money through
market research. Yeah, yeah market research. Number one - How Do You Add Value To Your
Customers. If your market research doesn't help you figure that out then hit the brakes,
stop and think again. Number two - Focus. What are you trying to achieve? What information
do you need to understand what makes your customers tick? What motivates them to buy
from you and not your competition? Number three - Drill Down. Pick one key area you
wish to focus on, then get a deeper understanding of it. Bingo! Number four - Pick Your Method.
Do you need to conduct quantitive or qualitative market research? Always remember that market
research is part of an ongoing inquiry process to support your business planning, business
modelling and business strategy.