Research Without Action Fails

Patrick Campbell shares insights about why research-based businesses often fail, drawing from his experience with pricing research and competitive intelligence. His perspective emphasizes the gap between information and implementation.

Key Points:

• Fatal Flaw in Research Companies:

  • Give people a "dopamine rush" of understanding something
  • People are generally bad at using the information effectively
  • Retention becomes poor unless you're a consulting firm like McKinsey

• Solution Requirements:

  • Must go beyond just providing research
  • Need to connect research to actual outcomes
  • Should remove the thinking process from customers
  • Must be "do it for you" rather than just informative

• Implementation Example:

  • Instead of just providing research
  • Connect it directly to actionable outcomes
  • Help customers hook it up to their ad targeting
  • Focus on getting actual results

• Business Model Evolution:

  • Traditional research companies give information
  • Successful companies help execute on the insights
  • Need to bridge the gap between knowledge and action
  • Must solve the "what next" problem for customers

• Customer Psychology:

  • People enjoy learning new information
  • Struggle with practical application
  • Need guidance on implementation
  • Value comes from outcomes, not just insights