HOW TO: Use customer insight to test new business ideas

Maximise your market research budget to deliver genuine insight. Jonathan Salisbury, managing director at 100%Cotton provides five top tips

When finance is hard to come by, it is more important than ever to demonstrate how your new business idea will make money. Many new companies flounder because they have failed to fully understand their customers and make a sound business case. The problem is when it comes to testing new business ideas, traditional research tools, such as surveys, polls and customer segmentation, are limited.