The Power of Market research
Why research?
Reaching the right audience, at the right time with the right message doesn’t happen by luck. Companies invest extensive energy into understanding what makes their audience tick and how to connect with them in a way that allows their brand to stand out. This is where market research comes in. Using a collaboration of behavioural science techniques market researchers are able to uncover and build an understanding of consumers’ behaviour and from that build effective strategies. Without market research brands can miss out on conversion opportunities and end up spending more on marketing without reaping the rewards.
Click the icons below to read about the main benefits of introducing research into your strategy.
Understanding your customers
A successful brand or creative strategy starts with a solid audience understanding. Knowing the needs and wants of your target audience ensures you can provide them with a product or service that meets those needs, in turn encouraging brand loyalty and association. Carrying out research is a great way to gain insight into your target audience. Whether that is carrying out surveys or looking at past consumer data and understanding what has resonated with consumers previously. Sometimes we can miss judge who our product or service is reaching and can find ourselves disregarding a huge part of our target audience without even realising. Research allows the consumer to share their thought rather than a brand having to guess or make assumptions. Once a clear understanding of your target audience has been collected, a strategy can be built to effectively communicate with them.
Click here to learn more about how to build brand awareness.
Measuring the effectiveness of your marketing
The journey doesn’t stop when your launch your campaign. To truly get the most out of your campaign it is worthwhile examining the outcome of your campaign. What did the consumer like about it? What parts of it provided the best reactions? What could make it better? These are all questions research can answer, offering insight into your brand’s perception and awareness pre and post-campaign. Post campaign evaluation is vital to understanding the overall success and provide insight into what has had the best impact on ROI.
Looking for new opportunities
With research, you can unlock untapped potential and never miss a trick. Carrying out market research can help your brand identify new marketing opportunities. No one knows more about what they would like to see in the market than the customer themselves. Using research tools such as focus groups and co-creation workshops can help your brand retrieve insight and promote innovation. Not only that but carrying out this research can help uncover areas of your current strategy that can be further developed to yield even better results.
Improve your branding
Your branding is the lifeblood of your company, it is the way in which you communicate your purpose and position in the market. Consumer research can allow for the opportunity to make improvements to your brand. It is important to understand how your branding is perceived by your audience and if it communicates the right message.
For further reading check out our article on What Makes a Great Ad Campaign.
What next?
Our Market Research agency can help you navigate and understand a saturated market. Through our methods of both quantitative and qualitative methodologies, we can help you uncover insight and better adapt your strategy.
What our client had to say:
"We wanted to create a campaign that would really engage with our customers but to do that, we needed to understand our place in the community and why people use us. The Research and Insight team were fantastic to work with. They took the time to really understand what we wanted to achieve from our research and guided us through every single stage, enabling us to create the perfect advertising campaign that would resonate with our target audience. I highly recommend the team to others; we are already looking at our next project! "
Hilary Kidd MCIM,
Marketing Manager
Get in touch to speak to one of our team about how research can boost your next campaign
