Why doing the homework matters

books_webGood marketers do their homework. Homework goes by different names: due diligence, research and discovery among them. Whatever moniker you choose, it boils down to the same thing: work. Lots of work. Work to learn more and more about who your customers may be, what matters to them, where they go to get information, to shop, and on and on.

I’ve noticed many people want to skip this part. Eager to get to the “fun” parts like graphic design, tag lines and soundtracks, they barrel ahead at full tilt – often in the wrong direction.

It’s irritating as sand sometimes. The market and competition seem more active during the homework phase, and business owners often feel they are wasting time and their money with little to show for it. But, like oysters, it takes time for the discovery process to yield the pearls. By doing the work up front and learning as much as possible, you can avoid costly mistakes and instead capture opportunities you may not have known existed.

-Published April 13th, 2009

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