I had a leak in my roof last year. A clearly identified, defined problem. Something had to be done. Urgently.
I called in the roofing guys. Having done a thorough inspection, they told me, “The roof batons are rotten. The nails are corroded. It’s 50 years old. You need a new roof.”
Now here is the conundrum: I could repair the leak for about £3k. Chances are another repair would be needed in a couple of years, then another. One day, inevitably, I gathered, I would have to replace the roof or the house would be wrecked. And the new roof would be way better than the old one, and look far nicer!
On this occasion, did the roofer persuade me to buy a new roof? No, because it was £40k. To me spending smaller sums was far easier; £40k was a big lump of cash to find. Secondly, I don’t know how long I will be in the house (can I get away with it?) and thirdly, I could have no certainty if and when such a significant replacement was needed. My suspicion was “he would say that wouldn’t he?”
Very honestly, this wasn’t a great decision on my part. Sure enough, this winter, it started leaking again.
So why am I writing this? Well to be very frank, Shopper Research can be a bit like this. Bear with me; I will explain why.
You can limp along fixing up your plans and proposals with old data, second-hand information, quick and dirty research, or just “judgement”. You probably won’t “fail”. You can get by spending minimal money. It will keep your business trucking along “OK”. For now. But in reality, you need to invest in understanding the shopper properly, so your “house” is bulletproof and fit for purpose for the next X years, and you look far better to your customers and start winning more business. The question is, when do you do it? Like a roof, actually the sooner you do it, the more money you save, and the better your outcomes are, sooner.
Our philosophy at Shopper Intelligence is to make the “new roof” of insights way more affordable and much less of a hurdle. So you don’t need to keep “fixing your plans up” on the cheap. Good quality insights that drive business growth need not break the bank.