If wishes were fishes we’d do some market research

The Harvard Business Review recently published an article about how the Georgia Aquarium boosted revenue, increased the number of visitors to the aquarium and increased visitor satisfaction dramatically through some good old fashioned market research all without raising prices and through a modest increase in advertising budget.  The Georgia Aquarium focused on their current customer base and created a profile of the most valuable customers. Once this “buyer persona” was created, they researched where more of these types of buyers lived and how they preferred to receive promotional messages.

After the initial market research, it was easy to find the most cost effective advertising channels to reach prospects who fit the profile of the Georgia Aquarium’s most valuable customer.

With all the challenges facing business leaders today, it’s easy to forget that your best clients provide the perfect blueprint for reaching and attracting high quality prospects.  The Georgia Aquarium did that and they were rewarded for their efforts.