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Your perceptions vs. market perceptions: How well do they align?

Generalizing one’s own experiences and opinions to the rest of the world has its pitfalls, and is one of the fundamental reasons to do primary market research.  Case in point: Heat, a San Francisco based ad agency, recently released data from its own study comparing use of social media among ad agency professionals to “normal people”.  The results show a huge difference in use of social media platforms:  For example, 92% of ad agency professionals have a Twitter account versus 39% of the general population.   Major differences also exist for social media services like Google+, Instagram, Pinterest and others.

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Enhancing forecasting with primary research

On February 13, 2012 the Wall Street Journal released its annual rankings of economic forecasters. None fared all that well in a relative sense, Tim Gill, director of economic analysis at NEMA placed at the top of this year’s list but the accuracy of his team’s forecast (based on a methodology developed by the federal reserve) would have ranked 35th in the 2011 rankings.

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Bright spots in technology spending

Despite a relatively pessimistic outlook for the economy as a whole, most CFOs expect to boost their technology spend in 2012 by an average of 10%. The bulk of the spending will be in three distinct but related areas: mobility, business intelligence and cloud computing.

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From the Isurus Archives: The strategic IT function

At Isurus, we’ve noticed an evolution in organizational behavior with implications for marketers of enterprise technology. In a growing number of organizations, senior business executives and senior IT professionals are developing a common vision and understanding of the strategic role of technology.

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Using market research effectively in product development

In many product development organizations, new concepts are market-researched to the nth degree before being brought to market. And it is true that market research results can kill good ideas because, sometimes, people don’t know what they want until you show it to them. While all of these problems exist, market research can still play a critical role in getting new offerings to market more quickly and cost effectively. Here are two recommendations based on our experience at Isurus.

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Satisfaction, NPS, Share of Wallet and other Holy Grails

At Isurus we believe that the best approach is to keep tabs on many facets of the relationships you have with customers and prospects and use these metrics to help inform business decisions rather than on managing around a set of high level metrics.

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Vanilla Installations

The February edition of CIO magazine profiles the Maple Leaf Foods, inc. decision to move to a “vanilla” installation of its ERP system as it merged the legacy systems from the 35 business units it had acquired over the years. This trend towards out-of-the-box installations is one that we have seen developing across sectors and organizations.

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