What is market research?
No matter how well you think you know your market, it’s all a gut reaction without the proper research to back up your thoughts. Market research takes a scientific look at understanding your audience, their drivers and the current state of awareness of your product, service or issue.
When to use it:
The first step in creating a successful marketing or public relations campaign is research. Without it, you could be wasting money implementing tactics that simply won’t work. While market research is an additional cost, the depth and methods in which it is conducted can vary greatly. At the lowest levels, market research may entail secondary research of industry trends, competitors and opportunities. From there, vehicles can include focus groups, one-on-one interviews, omnibus surveys and polls. If you want to lay a strong foundation before you begin pumping money into your marketing strategy, market research is simply a “must.”
Why it works:
Getting a third party, scientific perspective on your market ensures you’re looking outside the bubble of what you assume to be true. This information is invaluable in helping you develop messages and marketing strategies that will resonate with your target audiences. If you’re like most, marketing dollars are limited, and we all like to know we’re getting a return on our investments. Market research helps set the benchmarks and the foundation to ensure you’re hitting your goals.
Contact us today and we can assist with your market research.