Have you ever bought a "one size fits all" item of clothing? While the concept seems convenient and fail-safe at first, the reality is often disappointing (and at times let’s face it, downright funny! After you've finished reading this blog visit: 15 Times People Ordered The Wrong Size Online (buzzfeed.com) and you'll see exactly what I mean!).
These products rarely actually fit anyone properly, leaving us out of pocket and still searching for something more tailored to our unique body shape and preferences.
While this is a minor inconvenience, small waste of money and possibly a bit of a giggle with clothing, unfortunately when it comes to market research for your business, some research companies try to offer the same “one size fits all” approach, with far more costly and frustrating results.
For the UK fenestration market, with its distinct challenges and requirements, relying on off-the-shelf reports or prescribed research methods can leave businesses feeling ill-fitted. Instead, working with a research company that invests time to understand your business and tailors the research to suit your specific needs leads to a much more useful final result. Let's explore why a bespoke approach to market research is crucial for fenestration companies.
In-depth Understanding of the Industry
Partnering with a research company that possesses a solid foundation of knowledge in the fenestration industry offers a significant advantage. We are already familiar with industry dynamics, trends, and challenges specific to fenestration companies. As a result, we can provide valuable insights that generic research reports may overlook.
Tailored Research Methods
One of the key benefits of bespoke market research is the ability to adapt research methods to suit your requirements perfectly. Unlike off-the-shelf reports or a set of business tools that adopt a standardised approach, bespoke research allows for customisation. At Keystone we take the time to get to know your business, its unique objectives, and the target audience. Using decades of experience in your industry, we then design the research methodology to effectively capture the insights you need, whether it's through surveys, interviews, data analysis, or a combination of methods. This tailored approach ensures that you obtain the most relevant and accurate data to inform your business decisions.
In a competitive industry like fenestration, gaining an edge is paramount. Off-the-shelf reports often provide generic insights, that your competitors also have access to. On the other hand, bespoke market research provides you with unique insights and a competitive advantage. By investing in tailored research, you position your company as an industry leader committed to understanding its customers. This differentiated knowledge can help you stay ahead of the curve, identify groupthink biases, and make informed decisions.
Just like "one size fits all" clothing in reality should be called “one size fits nobody well”, standardised market research can leave you feeling frustrated. But it can also be a lot more serious for businesses, as in the worst cases you could be relying on incomplete or inaccurate data to make critical business decisions. Instead, investing in bespoke market research projects tailored to your specific needs can help you gain clear, actionable, and accurate insights, and a competitive edge. By embracing the power of customisation and using bespoke market research as your keystone in business, you can make informed decisions that propel your success in a rapidly evolving market.
Have you got a data-driven project that could benefit from an extra pair of experienced hands? Please contact Keystone today, I look forward to speaking with you.