Pricing
The cost of buying research can feel alarmingly high.
But if you were to consider it as an investment – ie. something that delivers a return – you may see this ‘cost’ a bit differently.
The impact of great customer insight on your bottom line is potentially huge.
Let’s look at a hypothetical example, Company Z.
If customer insight improves the number of leads, the conversion rate and the average customer spend by just +10%, the overall impact on revenue is +33%.
How much would you be willing to invest into customer insight to improve your revenue by +33%?
But if you were to consider it as an investment – ie. something that delivers a return – you may see this ‘cost’ a bit differently.
The impact of great customer insight on your bottom line is potentially huge.
Let’s look at a hypothetical example, Company Z.
If customer insight improves the number of leads, the conversion rate and the average customer spend by just +10%, the overall impact on revenue is +33%.
How much would you be willing to invest into customer insight to improve your revenue by +33%?
"Gideon was a delight to work with. He went above and beyond and held our hand through the whole process"
Anonymous
Client feedback
"From the first minute Gideon was more of a partner than a supplier. He took time to understand the nuances of the brief and after that the work was completed rapidly and to a high standard"
Consultant
We aim to be fully open and transparent around pricing, in order to help build trust with customers.
To really dig into the costs of doing customer discovery research, we have written a blog post which gives much more detail about what drives cost and therefore how you might reduce overall fees.
Essentially, our costs boil down to:
- Research time – including set-up, interviewing, analysis and communication of results
- Sample costs – aka ‘people’ – making sure you have the right kind of people taking part
- Analysis time – ensuring that the data collected has been thoroughly sifted for fresh insights and new thinking
- Other costs – largely access to tools and platforms to help do all of the above
If you have a budget of £3,000 – maybe even £5,000 to £10,000 – you can buy a serious amount of research to that will keep your organisation satiated with customer insight for a long time to come. Â
Some resources designed to help you with the cost of research:
- Our research calculator tool
- Our blog post on pricing is well worth reviewing
For some free, no obligation advice on how you might spend your research budget in the right way, please book in a quick call with Customer iQ’s founder, Gideon Barker.
If Customer iQ can’t help you, Gideon will be in a position to help and advise you on the best course of action.