Magic Numbers in Market Research
With the magic of the holidays upon us, we got to thinking about “magic” in market research, or the lack thereof. So our just- published quarterly newsletter focuses on magic numbers in market research, arguing that certain “magical” numbers seem to guide much of what we do, whether we realize it or not. The best researchers know the difference between the real magic of numbers and the not-so-real. We hope you find our commentary useful.
There is also, of course, the magic of story-telling, which market research can embrace, but rarely does. We were inspired by a recent New York Times interview with Aaron Levie, CEO of Box.net. What could be more boring than online file storage? But as Levie said:
In middle school, I did magic shows. It actually applies to what I’m doing now [leading a company] because it’s all about getting in front of people and telling a story. . . It’s all about capturing people’s imaginations and getting them excited about what’s possible.
Market research, too, can be exciting and interesting if it is communicated effectively. There is nothing inherently boring about numbers (in fact, they are fascinating). Nor are numbers inherently complicated (in fact, they always boil down to the simplicity of counting).
At Versta Research we are here to help you with both the wizardry of numbers and the magic of stories. Plus we can help you see through the smoke and mirrors of black box “methodologies” and “magic numbers” that are all too common in market research. Give us a call, and we would be happy to share with you our secrets. In the meantime, take a look at the December 2010 Newsletter for our take what’s magic and what’s not magic in market research.
—Joe Hopper, Ph.D.