Manizesto

Market research can take many forms and price-tags. Some companies hire research firms to investigate the competition and marketplace, conduct surveys and hold focus groups, while other companies go for something cheaper simpler. But the end goal is the same: find out what people want and how you can be the best at providing it.

So upon reading today that one of the globe’s largest automakers, Toyota, has decided to break the mold in their approach to market research, I had to share. The auto giant is currently designing a new compact sports car and really wants to get the formula right on the first try. How to find out? Well, instead of taking the traditional big-business approach at research, Toyota sent a senior R&D official to simply ask sports car fans what they wanted. 

The engineer (still nameless) went to the founder of the Club4AG forum, Moto Miwa, and asked him to get feedback from forum members. The request was simple: 

“…voice your opinions. Wishes you have for the Compact Sports car of Toyota. What can drive them and their creations to something of a cultural icon.”

It’s Brilliant. It’s Simple. And best of all, it’s free. Which means any small business owner can (and should) do the same. The benefits of just asking  are clear:

• Fans love being a part of the development process, so you’ll get a lot of quality feedback from people who are “in the trenches”. (Just look at all the feedback Toyota’s getting)
• People will see that you’re open for feedback and will more often tell you the truth.
• You’ll get great ideas on how to improve.
• You’ll build trust with customers and prospects
• You’ll build buzz and anticipation around your new product or offering.

There is one caveat: You actually have to listen to what people have to say and incorporate their feedback in your product, or you’ll quickly lose trust. But if you’re not going to listen anyway, don’t bother asking.

Subscribing to the Manizesto feed is the best decision you’ll make all day. Do it.

Photo courtesy of otama.