April 18, 2008, Newsletter Issue #92: Build ROI Measures Into Your Market Research

Tip of the Week

Return on Investment (ROI) is the holy grail of market research. After all, if you're considering spending what could be a significant chunk of cash on industry trend and analysis from a commercial provider, you are going to want to know if it's worth the investment. But there's really no way to tell without making the investment and then measuring the success of your campaign, as opposed to previous campaigns that did not use commercially purchased market research. Obviously, there are lots of businesses out there willing to pay for market research, or the commercial market research providers wouldn't be successful. So it's safe to assume there's some inherent value. But the exact ROI for your business is the unknown factor until you measure it yourself.

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