Balancing Research Priorities

Strict limits on research dollars have become a way of life for IT and services marketers. Research was one of the first categories to take a hit with the marketing cutbacks a few years back and marketers at even the largest technology firms have learned to make do with fewer sources and studies.

A common response to the cutbacks has been to focus on less expensive, more tactical-oriented research. Generic subscriptions, broad market forecasts, and worldwide tracking studies are out; targeted initiatives to support sales efforts are in.

Specifically, this means smaller and more customized studies in such areas as:

• Understanding customers business issues in targeted segments
• Analyzing top priority vertical markets
• Testing value propositions and messaging
• Assessing the competition, especially in relation to new offers
• Evaluating opportunities with small and medium-sized businesses

The narrowing of many companies’ research agendas is understandable given current conditions. And in many cases, marketers have turned the necessary budget constraints into more effective programs. Back in the days of more lavish spending, reams of data simply gathered real and virtual dust—which was sometimes a good thing given the wacky visions and guesstimates that often passed for legitimate research.

A key question, however, is whether companies are striking the right balance in their research agendas. There are at least three issues to consider.

1. The research mix. Even with a shorter-term focus, do you have the right mix of research activities to gather the right data and to do it fast enough to make a difference? Is the research program rigorous enough to give you high confidence in the results? Are you using both qualitative and quantitative methods in the most appropriate ways? Are you paying at least some attention to all key audiences and constituencies—not just customers and prospects but also employees, partners, and third-party influencers?
2. Static data vs. actionable information. Are you devoting enough energy to analyzing, sharing, and explaining the data internally to make sure it has an impact on strategy and planning? Are you reality-testing findings with sales, delivery, and other organizations? Are you putting enough time into turning the findings into thoughtful and actionable recommendations? Less expensive studies that are not used are just as wasteful as more expensive ones.
3. Tactical Execution vs. Strategic Vision. Are you still paying enough attention to the medium- and longer-term threats and opportunities that will affect the business beyond the next few quarters? Focusing limited research dollars on existing customers, prospects, and competitors is sensible, but not to the extent that it totally crowds out assessments of broader trends, emerging competitors, and opportunities for future growth.

“It’s not surprising that marketers are concentrating scare research dollars on projects that help generate more business as soon as possible,” notes 5, ITSMA’s vice president of research. “The problems come either when they move too quickly without thinking through the best approaches, or when they do it to the exclusion of all other research. Research is more important than ever in today’s market, and it is crucial that marketers maintain a sophisticated and balanced approach no matter what their level of resources.”

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