The Boedeker Group

At TBG we pride ourselves on the efficiencies that we realize for our clients because of our focus on repeatable and tested standard operating procedures for every type of project we manage. These types of unsolicited comments *make. our. week*! If you need a trusted partner to help you get the insights you need from your target market to help your products succeed, reach out to us here and we'd be happy to see if we can be of help #marketinsights #marketreserach #insights #marketdevelopment

Hot off the press from our second retrospectives: We worked with an ed tech company without (yet!) name recognition in the industry. We just received a *62%* response rate for them on an activity that got their product in front of hundreds of their target customers. If interested in learning more, reach out. Would be happy to give a best practice to help you get these results. #marketinsights #marketresearch #marketdevelopment #insights #research Photo by Glenn Carstens-Peters on Unsplash

We are so thankful to support clients who take the time to proactively share their experience working with us. Never underestimate how much an out of the blue email can mean to your partners, to your colleagues, to your employees. If you are looking for a team that cares as much about the success of your projects as you do, we'd love to talk. #marketinsights #idis #marketresearch #productdemonstrations #insights #customersatisfaction

We get asked frequently to conduct pilots. And frequently we ask a number of follow-up questions to see if this is the best activity for where they are in the (not yet) customer journey. Typically companies see from *their* perspective why a pilot is an attractive market development touch. What they don't always see, though, is the time commitment, the potential tech issues, the lack of confidence that a customer has to implement something for such a short time that has an impact on their learner's grades. We love running pilots for our clients, but it's our job to make sure it's the right touch, it's the right time, and it will have the right outcome. Reach out if you have questions on if a pilot is the right decision to get the sales you want from your offering. #marketdevelopment #marketinsights #marketresearch Photo by Brooke Cagle on Unsplash

Are you missing out on blowing out your sales by ignoring a specific demographic or potential market?  Take a lesson from a 110 year old company - Stanley - that's going viral. How? They are blowing it out of the water with a new target audience. A new demographic, and new product features *specifically* to match what that demographic cares about. Stanley has been in business since 1913. They historically targeted workmen in their marketing. They said their products resonated with a "30 year career veteran policeman" and a "retired Army soldier." (Retail Dive). What changed? Three women who run The Buy Guide who loved the quality of the cups, who had a wide audience on Instagram, and who believed their audience would be so interested in it that they were willing to shell out money to purchase 10k cups wholesale. They sold out in two days. And demand kept growing. As did their sales. TikTok and IG took off and happy consumers are showcasing their Stanley Quncher collections all over the place. Sales of the company went from $73M in 2019 to - get this! - $402 million in 2022 when they redesigned a Quencher model with a streamlined design and a new array of colors and finishes. $402 million.  Let that sink in.  More or less the same high quality product, but tweaked based on what a *specific demographic* cares most about. What can you take away with your product or service? What could be that hidden market for you? Where could you be missing big opportunities? And what slight tweaks could help you scale? #marketresearch #marketinsights #marketdevelopment #growthstrategy

Market research, done well, never is and never should be a one and done approach. The goal is continuous, iterative feedback built into the product development plan. Why? Here's 5 Reasons. 1. Better Understanding Customer Needs. Iterative market research allows for a deep understanding of evolving customer needs. For instance, the failure of the infamous "New Coke" in the '80s was a result of insufficient market research. Coca-Cola failed to gauge customers' emotional connections to the original taste. 2. Adapting to Market Shifts: Markets fluctuate. Failure to adapt leads to pitfalls. Nokia's inability to foresee the smartphone revolution and adapt their strategy is a classic example. They rested on their laurels, assuming their market dominance would persist. 3. Refining Product Development: Iterative research aids in refining products. Consider the struggles of Google Glass. Despite early excitement, its failure stemmed from Google's oversight of consumer discomfort with privacy concerns and the device's appearance. 4. Staying Ahead of Competition: BlackBerry's decline illustrates the danger of disregarding iterative research. They underestimated competitors' advancements and overestimated the loyalty of their customer base. 5. Enhancing Marketing Strategies: Pepsi's failed '90s ad campaign featuring Crystal Pepsi overlooked customer preferences. The absence of iterative research led to a campaign that didn't resonate with their audience. Iterative market research is not an expense but an investment. It's a continuous cycle that fosters adaptability, innovation, and customer-centricity, ultimately steering businesses toward sustainable growth. *What other examples can you think of where insufficient iterative research led to setbacks or failures in the market? Share in the comments* Photo by Brett Jordan on Unsplash

TBG will be conducting a survey with faculty about their thoughts on and usage of Generative AI in their classrooms. What questions do you have that you would want to see answers to? Feel free to write in the comments below or send a DM to Gina Boedeker. #ai #highered #generativeai #chatgpt #edtech #marketresearch #marketinsights #insights #research

Users don’t hire Spotify to browse, download, and stream media. They hire Spotify to easily and affordably listen to the music they love during the most mundane—and the most important—moments of their lives. Users don’t hire Verizon to make phone calls. They hire Verizon to reliably connect with their loved ones, no matter how far away they might be. Don't think of your product as just features and benefits. Think about what "jobs" your market needs done. What are their high level goals? What do they want to accomplish that may lead them to choose (or "hire") your product as a means to get there? By identifying these jobs and understanding in detail what the “job” entails, businesses can better design and position their offerings to address customer needs more effectively. If you're not sure how to start, we can help. #jobstobedone #marketresearch #marketinsights #consumerinsights Photo: Brooke Cagle on Unsplash

❓ Why are your biggest customers using your products? ❓ Out of all the options that they had for what your product or service provides, why did your customers choose *you*? ❓How do you know? Have you asked them? ⭐️ There is *gold* to be found in Win/Loss interviews.  ⭐️ Insights can be uncovered to help you determine what changes may be needed to your product to be more competitive, ways to market your product more effectively, and often strategic business decisions are made based on what’s uncovered.  By using a trusted research partner, you get the information that you need, unfiltered from your target audience. Reach out to see how we can help! #insights #marketinsights #marketresearch #winloss #winlossanalysis #customerjourney #customermapping #consumerinsights

There's no reason to hire a third party if you have to wind up doing the work on your own. We spend a lot of time at the outset of a project to ensure we are aligned on overall goals and expectations, and then we take the reigns and do our work. We only bring value when we can truly take work off a client's plate and give them insights they can trust. Reach out to us if you are looking to gather insights to inform your product, marketing, or overall business strategy. We'd love to share with you how we partner with teams to help them reach their goals. We're thankful for this client for sending this today about how we're helping them reach theirs. #marketinsights #marketdevelopment #marketresearch #insights #research #development #projectmanagement