6 Reasons to Help Businesses Use Market Research

Too many small business owners are operating with no data to inform strategic decision making, and this has serious financial consequences for them and our community. What tools are you using to guide your clients towards profitable and sustaining businesses?

1) Avoid Building a Business No One Wants:

42% of failed startups admit there was no market need (CB Insights).

Tip: Research demand to make the most of your time, money and energy.

2) Know Your Industry Profitability

Profit margins range from <5% (restaurants) to 20%+ (consulting) (NYU Stern).

Tip: Use market research to choose a model that builds wealth - not just sales.

3) Impress Funders & Lenders

Market-researched business plans are twice as likely to get funded (SBA + SCORE).

Tip: Funders want data - not just dreams.

4) Spend Smarter on Marketing

26% of small biz marketing budgets are wasted on the wrong audience (HubSpot).

Tip: Research who your best customers are, and where they spend their time.

5) Price with Confidence

80% of owners underprice their products (Intuit QuickBooks).

Tip: Know your competitors & customer expectations before you set your rates.

6) Make Smarter, Faster Decisions

Businesses that use market data are 3 times more likely to survive past year 5 (Kauffman

Foundation).

Tip: The most resilient businesses don't guess - they measure.

Ask about our market research toolkit to help your clients build better, more profitable businesses.