Conduct your surveys or dive into web data, and learn the business insights. This may seem like a natural step, but you need to go further to understand the whole picture.
Researching your customers or analyzing data only from your website can limit the amount of information available to you. Surveys can be answered by the most responsive or positive of your customers. Website analytics show customer effectiveness, but don't take into account potential customers and their needs, and the objectives of their strategic planning.
Syndicated third-party work can cover the trends of all consumers, not just your customer base.
The use of market research to analyze customers on multiple levels, helps you assess product/service demand and determine if it's worthwhile for your company to enter a potential new market.