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"Our business has a bright future because we will always need data and analysis," Serge Mumbu, 10 years of Target.

On Monday, October 11, 2021, the market research firm Target celebrated its 10th anniversary. An event that comes at a time when the Covid-19 pandemic hits the world. The company's General Manager, Serge Mumbu, explains that his structure had to adapt to the evolutions of his sector of activities. In the interview, he talks about Target's opportunities and challenges while remaining optimistic for the future. Interview.

Target turns 10 years old this Monday, October 11, 2021. What is your biggest takeaway from this anniversary date?

Some years ago, we tended to be lumped together with other market research firms. In the Democratic Republic of the Congo, this is an area where results are seen as not credible or manipulated. Today's greatest satisfaction is that Target is not considered one of those firms. We are seen as a credible firm. We receive much encouragement on social networks and from many officials who ask us to continue to be credible, serious, and independent in what we do. And that's very important to us.

What has worked well over the past decade for Target?

We can adapt to our client's requirements because the market research industry has evolved significantly. And the expectations of our clients have also changed a lot. For this reason, we have attended seminars, training sessions, and conferences. This is a factor that has helped us to evolve our approaches and working methods. The other aspect that works is communication. We have tried to popularize our work, especially on social networks (Twitter, Linkedin, and Facebook), where we have thousands of followers. They are regularly informed about Target's activities and the different facets of market research. We've been able to get buy-in and business through this communication.

And what didn't work out so well?

There are human resource challenges first. Our universities do not train staff in market research. Instead, we have to train our staff. And it's not always easy, and it often takes a long time for the people we train to understand the principles and techniques of our business. The results are sometimes not there. And sometimes, we train employees who become wildly successful and then go on to offer their services to other companies. We don't benefit from this. The other challenge we have encountered is related to the self-financing of studies. Many clients do not pay the advance when they order the studies. Prices are already relatively low, but they pay their invoices usually weeks or even months after the work has been delivered. We have real problems with this situation because we have fixed expenses to meet every month.

Covid-19 has taken down several companies around the world. How are you doing?

We have experienced a significant drop in the volume of activities and orders. Many projects initiated with our partners have been canceled or significantly reduced. As a result, we had to reduce our costs and expenses, including staff remuneration, at the risk of creating dissatisfaction. In response to the Covid-19 pandemic, we have expanded the less expensive aspects of our business. I am referring to online surveys and training, telephone surveys, desk studies, and the data mining we are trying to develop. For every difficulty, there is always an opportunity. The opportunity here is for us to develop methodologies and techniques that can satisfy the needs of our clients with small budgets.

Target continues to grow. What are your prospects for growth?

Prospects are good in the sense that opportunities are coming. More and more, there is a need for market information. These are the needs in terms of information and statistics that we must be able to satisfy in addition to the classic market studies such as image surveys, communication assessments, and brand perceptions that we are used to doing. In addition to these standard surveys, we are called upon to become a data provider. An organization that offers different information to enable companies to be more competitive. There are fewer and fewer barriers between different countries when conducting online surveys. This is why documentary and online surveys will also allow us to offer services in other countries.

What is your message to your company's staff on the occasion of these 10 years and to the many young people considering launching their careers in market research?

My first message is to say: thank you to all the staff at Target. Despite the decline in business volume related to Covid-19, the staff has continued to sacrifice and strive to be the best they can be. And our customers are happy. We are in an industry that is continually reinventing itself. That's why we must be open-minded enough to continue training and adapt to avoid routine. As for young people interested in market research, they should know that it is an exciting profession that allows you to gain knowledge in many areas at once. It is not easy to master market research overnight.
You have to make many sacrifices, especially to improve your English. This profession has a future because there will always be a need for data, statistics, and analysis.
Friday, October 15, 2021 - 12:39