1. Your goals are not well defined.
What do you want or need to learn from your market research? How will the data affect your business? Your goals should be specific, measurable and actionable. All the data in the world won't help you if it's not related to your short and long term goals.
2. Your target audience is not well defined.
If you're talking to the wrong people, it doesn't matter what research results you get because they're irrelevant. Take the time to identify the specific target audience you need to communicate with in order to get information that can accurately help you create your marketing strategy.
3. Your research is too limited.
If you only talk to a few people, that's probably not enough feedback to hang the success of your marketing strategy on. Of course, the number of people you should survey or communicate with for your specific research initiatives varies depending on your business, but one thing remains constant for all businesses - make sure you speak with a statistically significant portion of your target audience before you implement any sweeping marketing changes.
4. Your survey or research tool is substandard.
The data you collect through research is useless if you're using a survey or research tool that stinks. Make sure you take the time to develop a survey or research tool that will deliver the information you truly need. Hire a market research company or consultant with deep experience in developing surveys and research tools in order to ensure yours is the best and most effective it can be.
5. You massage the results to support your predetermined opinions.
Most people have an idea of what they want to hear from their audiences. This applies to market research, too. Let's face it. Data can be interpreted in many different ways. It's the glass is half empty vs. half full theory. Be careful when you analyze your results that you do so from a 10 foot, unbiased view. Your investment is worthless if you don't listen to the real results.
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