When you begin a new market research project, how do you determine which data points will be most valuable for your client's goals?

When I begin a market research project, I dive into understanding the client’s world—their goals, challenges, and what they’re ultimately hoping to achieve with this market research report. This initial conversation helped me uncover the essential data points needed to make a real impact, whether it’s for attracting new customers, positioning in a crowded market, or successfully entering a new space. By clearly defining whom they’re targeting, I can tailor the research to include insights into the audience’s behavior, preferences, and the unique triggers that drive them.

From there, I dig deeper into Industry size, segmentation analysis, industry trends, competitors, and any external factors that might influence their success. I also choose KPI’s that matter most to their goals, like market growth or retention metrics, funding and revenue history, pricing strategies, marketing strategies to ensure the research translates into actionable insights. Throughout, I keep in close touch with the client to validate that the research stays on track and remains adaptable, so they receive insights that genuinely support their strategy and vision.

When starting a new market research project, determining the most valuable data points begins with a deep understanding of the client’s specific goals and challenges. This step is critical because every client has unique objectives—whether they’re looking to enter a new market, refine a product offering, or better understand their customer base. The key is to align the research directly with their strategic needs.

By focusing on the client’s end goals, whether it’s improving product-market fit, expanding their audience, or gaining a competitive edge, I ensure that the data points we prioritize are directly tied to providing actionable insights. This tailored approach to market research has consistently led to more relevant, impactful strategies for my clients.

It all depends on their industry and their target market. Often, I find people too focused on the product or solution and not as invested in understanding their customers. I think customer data and market trends are the most important data points to focus on. I always encourage my buyers to focus on customer data, which is the most important. Competitors too. You have to differentiate yourself in the market, so knowing your competitors is vital.