7 tips for your market research

INNOVATION IN YOUR MARKET RESEARCH !

#1 Working with consultants?
Ask them how they research your market. They all use strategic information provided by research firms, you should maybe have a look at these directly before.

#2 Use an RSS news aggregator
It sounds harsh, but it is worth it. You will read 100s of headlines everyday. Google Reader is very good.

#3 Mix sources
You're just a UK based clothing retailer? Maybe you could find opportunities in high-growth markets or get innovative ideas from foreign countries (ie private labels, store formats). And these ideas can even come from other sectors, so don't narrow your scope too much.

#4 Read annual reports
Don't say it's boring, they are among the more reliable sources. You can learn a lot about your competitors and develop an out-of-the-box insight.

#5 Step to action
Sum up your research in a few key facts and figures and implement findings at every level of your company. Everyone should be able to get a clear insight of your market.

#6 Get out, attend events!
Researching your market is good, but nothing is better than attending to conferences, workshops, etc. Identify key speakers on your topic, these people will reinvigorate your management's vision and energize your team.

#7 Share and exchange your research
Like a business plan, your market research will gain a lot by being validated by your peers. And you are at the best place for sharing, selling and buying market research !