Every entrepreneur and business manager knows that market research is the cornerstone of a great business. After all, the most common cause of failure in the business world can be observed as a failure to plan ahead, which involves knowing what customer segment to target for maximum profit.
In light of this, startups and corporations alike turn to market research businesses to get the insights they need to become successful. One market research company that has been making headlines to date is Canadean.
Why Is Market Research So Important?
As stated previously, Canadean is one of the leading market research companies in the world – but what is the significance of market research in the first place? Some argue that many products are doomed to fail from the beginning, well before the business opens its doors to new clients. This is ostensibly due to the fact that people simply do not want to buy their products, which could be found out well before the business managers decided to open their doors.
Market research is one of the core planning activities of any successful business. Not only does the activity provide the needed information to decide to enter a market, it also identifies the specific advantages and weaknesses of a given product.
Market research can be conducted in a variety of ways, which can include online surveys or one-to-one focus groups, mystery shoppers and more. The data that is gathered is then interpreted by the the owner and other business managers. Although if one will actually pay attention to the findings is another story.
What Services Does Canadean Offer?
As previously stated, Canadean offers market intelligence services to businesses large and small. This means Canadean may be contracted to discuss strategy, offer consultative advice, or hold workshops on behalf of their clients. The company states that it has major clients all over the world, but their core customers reside in the United States.
In addition to the above services, Canadean reportedly sells raw data to marketing companies and call centres. What these companies do with this information is that they are able to conduct telemarketing and direct mail campaigns. The information that Canadean sells is allegedly segmented in various ways, for instance one can purchase the data of retired home owners in Michigan, or data for homeowners that reside in New York that have a mortgage over $300,000.
Like most market research companies, the data collection method that Canadean uses it often a point of contention among data-security advocates and consumers at large. The most common way that Canadean reportedly gets its information from is via opt-in surveys, where one is enticed to enter their data in exchange for a prize of some kind. These prizes can range from something like a coupon for Walmart to a $200,000 BMW.
All of this information is then stored and distributed to their clients. What the client decides to do with that information is clearly up to them, but there is a legal disclaimer on many of these surveys that be found usually in the fine print or terms and conditions.
How Do Companies Use The Data From Canadean?
As mentioned above, there are a variety of applications that serve the data gathered via market research. Call centres are usually the favorite clients, as they churn through sometimes thousands of numbers per day in the attempt to sell their goods for a profit. This can sometimes lead to complaints to government services such as the do not call register, where one can declare their number not to receive nuisance calls from telemarketers.
The other most common use of data is to produce direct mail campaigns, which is similar in nature to telemarketing. Direct mail involves sending offers to residents in specific areas, usually in smaller local areas rather than throughout the company. The most common form of direct mail campaign according to Canadean is a ‘Lumpy package’, where one will receive what looks like a small box or parcel in the mail.
Upon opening the package, one will usually find a time-sensitive offer such as 20% off for the next 2 weeks on a service. This is done to induce scarcity and thus make the offer more desirable. The most common clients of direct mail are business to business services and retail stores.
What Are People Saying About Canadean?
Canadean carries a solid reputation from the Better Business Bureau, which means that there have been no complaints lodged against the business. This is usually a solid indicator of integrity or lack thereof of an enterprise.
Another indicator of quality about Canadean is that it has an extensive list of clients all throughout the country and beyond. Smaller companies that are unethical usually don’t stick around, preferring to make as much easy money as possible and then simply disappearing. As a company with a solid track record, Canadean has managed to build up an extensive track record in delivering quality services.
The Bottom Line – Is Canadean Recommended?
There is enough evidence to suggest that Canadean is a quality enterprise that provides services that are both ethically sound and have a track record of delivering results. The company’s client list is both prestigious and extensive, boasting some of the most well-known consumer and enterprise brands that can be found in the country.
The business is accessible and reportedly easy to deal with, offering a means of communication through email, phone and live chat that can be found on their website. Their home page also features some of their featured testimonials and highlight the company’s key strengths and they were able to deliver results.
In conclusion, Canadean offers quality services that are trusted by clients all over the world. If one is in the process of finding a business to make a deal with, then Canadean may just be the comapny that one has been looking for. With the correct expectations and well as the flexibility of trusting their analysis, one may be pleasantly surprised with the result consulting with Canadean.
