Market Research: A Tool for All
Posted on July 6, 2016
In business, it’s never bad to have more information.
The more you know about your customer — or potential customer — the better your revenues, the more efficient your marketing efforts and the more optimal your brand relationship. Market research fills the gaps in your business strategies, allows you to see around the corner and anticipates demand. At Communica, we are dedicated to helping our clients be better informed.
Market research makes your sales strategy more efficient.
These days, everything is about targeting. With refined consumer targets, companies can use social media and custom content to communicate the right attributes to entice purchase. Technologies even exist to communicate with consumers when they are on-site, in-store and considering whether to buy.
Segmentation is a good way to establish customer targets. Most brands can separate their consumer audience into four to seven segments of varying priority. This gives marketers more ways to connect with key constituents. For example, if you know how a segment gets its information, what it buys, how frequently it buys and which attributes are most important, you can customize communications to appeal to them.
Market research helps clients to optimize impact.
A client once asked me why we do market research to test ads that were developed by expert designers. He said, “Don’t I pay the designers because they know what we need to say?” He’s right: advertising lived for a long time without market research. My answer, however, was: “Why not?”
Why not learn more? Doing research helps us polish the small details: use a better image, pick a better typeface or make the copy more colorful. When we research, we optimize our communications, giving them more stopping power among the intended viewers. It helps us to fine-tune our creative and avoid unexpected pitfalls.
Market research reveals known unknowns.
As business leaders, we tend to focus on the things we know — and know well. Many seasoned marketers don’t like talking about the things they don’t know. But imagine if we did. Imagine how much better our decisions would be, how much smarter our businesses would run. We could work smarter, not harder.
If your research just confirms what your team already knows, then it’s time to do research differently. Research should be a you-heard-it-here-first kind of moment. We seek answers to your “known unknowns” and use the firm’s extended resources to bring new marketing strategies to life through advertising, creative design, digital content, social media, trade shows and public relations.
Market research for all.
It used to be that only big, consumer brands did market research. They were the most consumer-oriented and concerned about appealing to their target markets. That’s all changed.
Our researchers have done research for a variety of firms, from blue-chips and heritage brands to start-ups and non-profits. As long as we can find a representation of your target market, we can collect their opinions, hear their needs and use their information to inform your business strategy. The research world is open to all organizations.